Recent Updates — PRTA
Prothena Corporation reported a third-quarter 2026 net loss of $16.5 million, or $0.32 per share, compared to a $36.5 million loss in the prior-year period. Total revenue was $0.6 million, down from $2.4 million, as the company incurred $8.4 million in research and development expenses and $10.6 million in general and administrative costs. For the first nine months of 2026, net loss narrowed to $2.4 million on revenue of $52.7 million, driven by a $50.0 million milestone payment from Novo Nordisk. The company ended the quarter with $272.2 million in cash and no debt, while repurchasing approximately 501,492 shares under its buyback program. Prothena is a late-stage clinical biotechnology company focused on developing therapeutics for neurodegenerative and amyloid diseases.
Bristol Myers Squibb informed Prothena Corporation on October 28, 2026, that it will not advance the antibody candidate PRX019 further in clinical development following an internal strategic review. Consequently, Bristol Myers Squibb will terminate the exclusive global license agreement for PRX019 effective January 28, 2027, and will owe no additional development, regulatory, or sales milestones to Prothena. While Prothena previously received an $80 million upfront payment and completed a Phase 1 trial demonstrating a benign safety profile for PRX019, the termination eliminates eligibility for up to $617.5 million in potential milestone payments and future royalties. Bristol Myers Squibb continues to develop its separate Alzheimer's candidate moponetug under a different collaboration with Prothena. Prothena Corporation operates as a clinical-stage biopharmaceutical company focused on developing therapies for rare diseases.
Prothena Corporation plc announced that Chad J. Swanson, Ph.D., its Chief Development Officer, resigned effective October 9, 2026. Dr. Swanson is leaving to accept a position with one of the company's strategic partners, where he will assume a leadership role over a program partnered with Prothena. This executive departure involves key personnel and potential changes in clinical development oversight. The company operates in the biotechnology industry, focusing on the discovery and development of novel therapies for serious diseases.
Prothena Corporation reported second quarter 2026 financial results on August 6, 2026. The company posted a net loss of $18.6 million for the quarter and net income of $14.1 million for the first six months, compared to losses in the prior year period. Total revenue was $1.0 million in Q2 and $52.1 million for the first half, driven by a $50.0 million milestone payment from Novo Nordisk and collaboration revenue from Bristol Myers Squibb. Cash and restricted cash stood at $289.1 million as of June 30, 2026. The company updated its full-year 2026 cash guidance to approximately $259 million, reflecting share repurchases. Prothena is a late-stage clinical biotechnology company focused on developing therapeutics for neurodegenerative and amyloid diseases.