Business
Prothena Reports Second Quarter 2024 Financial Results and Business Highlights
Net cash provided by operating and investing activities was $15.8 million in the second quarter and net cash used by operating and investing activities was
About this update from Prothena Corporation Plc
[{"type":"text","content":"\n\nNet cash provided by operating and investing activities was $15.8 million in the second quarter and net cash used by operating and investing activities was $57.3 million for the first six months of 2024; quarter-end cash and restricted cash position was $565.0 million\n\n\n\nRevised year-end cash guidance to be approximately $468 million in cash, cash equivalents and restricted cash, representing an increase of $63 million from prior guidance of $405 million\n\n\n\nBristol Myers Squibb obtained the exclusive global license for PRX019 for $80 million, a potential treatment of neurodegenerative disease with an undisclosed target; Prothena to initiate a Phase 1 clinical trial by YE 2024\n\n\n\nPartner Bristol Myers Squibb presented a poster for BMS-986446 at AAIC 2024 of the clinical trial design for the ongoing Phase 2 TargetTau-1 clinical trial to treat Alzheimer’s disease\n\n\n\nPresented poster for PRX012 at AAIC 2024 of the clinical trial design for the ongoing Phase 1 ASCENT clinical trial to treat Alzheimer’s disease; program update expected in 2024\n\n\n\nHighlighted poster for birtamimab at ISA 2024 of additional efficacy analysis from the VITAL Phase 3 clinical trial to treat AL amyloidosis; ongoing global confirmatory Phase 3 AFFIRM-AL clinical trial with topline results expected between 4Q 2024 and 2Q 2025\n\n\n\n \n\n\n DUBLIN, Ireland--(BUSINESS WIRE)--\nProthena 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 for the second quarter and first six months of 2024 and provided business highlights.\n\n\n“We continue to meaningfully advance our programs and move towards becoming a fully integrated commercial company, which will enable Prothena to deliver transformative medicines for people living with devastating diseases caused by protein dysregulation. We recently announced that our collaboration with Bristol Myers Squibb generated a clinical development program with their exclusive global license of PRX019 for $80 million. In addition, this quarter we continued to enroll our ongoing global clinical trials for our wholly-owned PRX012 and birtamimab programs as planned,” said Gene Kinney, Ph.D., President and Chief Executive Officer, Prothena. “Within the next 12 ...