Business
Prothena Reports Third Quarter 2023 Financial Results and Business Highlights
Net cash provided by operating and investing activities was $9.1 million in the third quarter and net cash used in 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 $9.1 million in the third quarter and net cash used in operating and investing activities was $84.1 million for the first nine months of 2023; quarter-end cash and restricted cash position was $673.1 million\n\n\n\nReceived $55 million payment from Bristol Myers Squibb for exclusive worldwide license to PRX005\n\n\n\nRemain on track and expect to deliver upcoming clinical milestones from wholly-owned and strategic partner programs over the next 15 months\n\n\n\n DUBLIN--(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 third quarter and first nine months of 2023 and provided business highlights.\n\n\n“We continue to advance our programs across the pipeline to address devastating neurological and rare peripheral diseases caused by protein dysregulation which affect millions of people and their families worldwide. Our expertise in developing therapeutic approaches that target misfolded proteins to achieve clinical benefit has us well positioned with several expected milestones in the near future. We are excited for initial topline results from our ongoing Phase 1 SAD and MAD clinical trials of PRX012, an anti-amyloid beta antibody, and our IND for PRX123, a dual amyloid beta/tau vaccine, by the end of 2023,” said Gene Kinney, Ph.D., President and Chief Executive Officer, Prothena. “We also look forward to multiple milestones in 2024, including topline results from AFFIRM-AL, our confirmatory Phase 3 clinical trial of birtamimab, the first potential therapy to show a significant survival benefit in patients with Mayo Stage IV AL amyloidosis; Phase 2b results from Roche on prasinezumab; and Phase 2 results from Novo Nordisk on NNC6019.”\n\n\nThird Quarter, Recent Business Highlights and Upcoming Milestones\n\n\nNeurodegenerative Diseases Portfolio\n\n\nAlzheimer’s Disease (AD)\n\n\nPRX012, a wholly-owned potential best-in-class, next-generation subcutaneous antibody for the treatment of AD that targets a key epitope at the N-terminus of amyloid beta (Aβ) with high binding potency. Robust reduction of brain amyloid plaque has been demonstrated to likely predict clinical benefit for p...