Prothena Corporation Reports Q3 2024 Financial Results

Prothena Corporation ( (PRTA) ) has released its Q3 earnings. Here is a breakdown of the information Prothena Corporation presented to its investors.

Prothena Corporation is a clinical-stage biotechnology company focused on developing therapies for neurodegenerative and rare peripheral amyloid diseases, leveraging its expertise in protein dysregulation. In its latest earnings report, Prothena Corporation highlighted its financial performance for the third quarter of 2024, which included a decrease in total revenue to $970,000 compared to $84.9 million in the same period last year. The company reported an operating loss of $66.5 million for the quarter, reflecting its ongoing investment in research and development. Notably, Prothena’s collaboration revenue for the nine months ended September 30, 2024, increased to $133 million from $91 million in the prior year. The company ended the quarter with $519 million in cash and cash equivalents, indicating a solid liquidity position despite the net loss of $59 million in the third quarter. Looking ahead, Prothena Corporation remains focused on advancing its pipeline of investigational therapeutics, with management expressing confidence in its cash position to support its operations and strategic initiatives for the near future.