Prothena Reports 2024 Financial Results and 2025 Outlook

Prothena Corporation ( (PRTA) ) has released its Q4 earnings. Here is a breakdown of the information Prothena Corporation presented to its investors.

Prothena Corporation is a late-stage clinical biotechnology company focused on developing therapeutics targeting protein dysregulation, particularly for neurodegenerative and rare peripheral amyloid diseases. The company has expertise in creating investigational treatments for conditions such as Alzheimer’s and Parkinson’s diseases.

In its recent earnings report for the fourth quarter and full year 2024, Prothena revealed key financial results and strategic advancements. The company reported a net cash usage of $47.8 million in the fourth quarter, with a total of $150.3 million for the year. As of the end of 2024, Prothena held $472.2 million in cash and restricted cash.

Prothena’s key financial metrics included a net loss of $58.0 million for the fourth quarter of 2024, a decrease from the previous year. The company also reported total revenue of $2.1 million for the fourth quarter, significantly higher than the $0.3 million reported in the same period the previous year. Additionally, Prothena highlighted its strategic partnerships and ongoing clinical trials, including the AFFIRM-AL Phase 3 trial for AL amyloidosis and collaborations with Bristol Myers Squibb and Roche for Alzheimer’s and Parkinson’s disease treatments.

Looking ahead, Prothena anticipates several clinical milestones in 2025, including new data from various trials and a potential transition towards becoming a fully integrated commercial entity. The company projects a net cash usage between $168 to $175 million for 2025, expecting to end the year with around $301 million in cash. Prothena remains committed to advancing its pipeline to address unmet medical needs in neurodegenerative and amyloid diseases.