Business
Prothena Reports Second Quarter 2022 Financial Results and Business Highlights
Net cash used in operating and investing activities was $35.5 million in the second quarter and $72.9 million for the first six months of 2022; quarter-end
About this update from Prothena Corporation Plc
[{"type":"text","content":"Net cash used in operating and investing activities was $35.5 million in the second quarter and $72.9 million for the first six months of 2022; quarter-end cash and restricted cash position was $510.1 millionBroad Alzheimer’s disease portfolio continues to advance: FDA Fast Track designation granted in April for PRX012, a potential best-in-class, next-generation anti-Aβ antibody therapy; topline data expected by year-end from Phase 1 clinical study of PRX005, a potential best-in-class MTBR-specific anti-tau antibody DUBLIN, Ireland, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Prothena Corporation plc (NASDAQ:PRTA), a late-stage clinical biotechnology company with a robust pipeline of investigational therapeutics built on protein dysregulation expertise, today reported financial results and provided business highlights for the second quarter and first six months of 2022. “We are closing the first half of 2022 from a position of strength, with multiple clinical programs advancing and a solid cash position supporting a robust set of milestones anticipated in 2022 and beyond. We are grateful for the opportunity to quickly progress the development of PRX012, a next-generation anti-Aβ antibody, under FDA’s Fast Track designation, further reinforcing our commitment to Alzheimer’s disease patients and their families,” said Gene Kinney, Ph.D., President and Chief Executive Officer of Prothena. “We believe our anticipated progress in the second half of the year will continue to validate our biology-directed R&D strategy, with antibodies that have been engineered to target pathogenic proteins in a manner we believe will be most impactful for the treatment of disease. We expect to achieve multiple milestones, including topline Phase 1 data for PRX005, the initiation of a Phase 1 multiple ascending dose study of PRX012 and the continued advancement of the Phase 2 study of PRX004 by Novo Nordisk. Additionally, we remain focused on our confirmatory Phase 3 AFFIRM-AL study of birtamimab, the first potential therapy to show survival benefit in Mayo Stage IV patients with AL amyloidosis.” Second Quarter and Recent Business Highlights and Upcoming Milestones Neurodegenerative Diseases Portfolio Alzheimer’s Disease (AD) PRX012, a potential best-in-class, next-generation treatment for AD, is an investigational monoclonal antibody targeting a key epitope at th...