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PRTA

Prothena Corporation plc

PRTA

Prothena Corporation plc • NASDAQ
$10.75 ▲ 3.07% (+0.32)
Market Cap $578.67 M
52w High $17.66
52w Low $4.32
Dividend Yield 0%
P/E -2.07
Volume 288.73K
Outstanding Shares 53.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.415M ▼ $13.717M ▼ $-36.541M ▲ -1.513K% ▲ $-0.68 ▲ $-35.941M ▲
Q2-2025 $4.42M ▲ $89.036M ▲ $-125.767M ▼ -2.845K% ▼ $-2.34 ▼ $-51.782M ▲
Q1-2025 $2.828M ▲ $68.409M ▲ $-60.195M ▼ -2.129K% ▲ $-1.12 ▼ $-65.358M ▼
Q4-2024 $2.123M ▲ $67.02M ▼ $-57.956M ▲ -2.73K% ▲ $-1.08 ▲ $-64.676M ▲
Q3-2024 $970K $67.483M $-59.001M -6.083K% $-1.1 $-66.287M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $330.843M ▼ $352.628M ▼ $57.639M ▼ $294.989M ▼
Q2-2025 $371.435M ▼ $399.066M ▼ $74.735M ▲ $324.331M ▼
Q1-2025 $417.935M ▼ $495.336M ▼ $57.656M ▼ $437.68M ▼
Q4-2024 $471.388M ▼ $547.108M ▼ $60.182M ▼ $486.926M ▼
Q3-2024 $519.262M $595.254M $60.892M $534.362M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-36.541M ▲ $-40.565M ▲ $-10K ▲ $-17K ▲ $-40.592M ▲ $-40.575M ▲
Q2-2025 $-125.767M ▼ $-46.34M ▲ $-86K ▼ $-74K ▼ $-46.5M ▲ $-46.426M ▲
Q1-2025 $-60.195M ▼ $-53.363M ▼ $-42K ▲ $-48K ▲ $-53.453M ▼ $-53.405M ▼
Q4-2024 $-57.956M ▲ $-47.772M ▼ $-43K ▼ $-59K ▼ $-47.874M ▼ $-47.815M ▼
Q3-2024 $-59.001M $-45.186M $-9K $333K $-44.862M $-45.195M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Collaboration
Collaboration
 $130.00M ▲$0 ▼$0 ▲$0 ▲
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Prothena looks like a classic clinical‑stage biotech on the income side: very small, irregular revenue largely tied to partnerships and milestones, not recurring product sales. Profitability has been elusive, with operating losses in most years and only one year of meaningful profit, likely due to a one‑off collaboration event. Recent years show continued losses, but not explosive ones, suggesting a controlled spend rather than an uncontrolled burn. Overall, the income statement says this is still a development‑stage company whose financial story will only change meaningfully if and when one of its key programs reaches the market or delivers large milestones.

Balance Sheet

Balance Sheet The balance sheet is heavily dominated by cash, which is typical and generally reassuring for a company without commercial products. Total assets are mostly cash and short-term investments, with very little debt, giving the company flexibility and a relatively low financial risk profile. Shareholder equity is solidly positive, though it has drifted down from prior peaks as losses accumulate. In simple terms, Prothena still appears financially sturdy for a clinical biotech, but its strength is gradually drawn down over time as it funds R&D.

Cash Flow

Cash Flow Cash flow reflects a steady pattern of investment rather than income: most years show negative operating cash flow as the company spends on research, people, and trials. Free cash flow mirrors this picture because capital spending is minimal; almost all cash usage is operating and R&D related. One year stands out with positive cash flow, likely tied to a major collaboration payment, but that has not been repeated recently. The overall message is that Prothena remains a cash‑burning R&D organization, currently supported by a sizeable cash cushion rather than by ongoing business profits.

Competitive Edge

Competitive Edge Prothena’s competitive position rests on deep expertise in protein misfolding and a strong set of alliances rather than on marketed products. Its focus on difficult neurodegenerative and protein‑aggregation diseases, plus a sophisticated antibody engineering platform, gives it a specialized niche. Partnerships with Roche, Bristol Myers Squibb, and Novo Nordisk both validate its science and extend its reach, but they also mean Prothena’s fate is partly tied to partners’ priorities and decisions. The company operates in very crowded and high‑stakes areas like Alzheimer’s and Parkinson’s disease, where many larger players compete and clinical failures are common, so its scientific edge is meaningful but not unassailable.

Innovation and R&D

Innovation and R&D Innovation is Prothena’s core asset: it has long experience in targeting toxic, misfolded proteins and uses advanced epitope mapping and antibody design to go after disease drivers rather than just symptoms. Its pipeline spans partnered and wholly owned programs in Parkinson’s, Alzheimer’s, and amyloidosis, with several approaches that attempt to change disease course, not just provide temporary relief. At the same time, recent clinical setbacks and program discontinuations show how risky this strategy is; progress can be dramatic in either direction as trial data emerge. The company has already cut and refocused its R&D after failures, and its future will depend on disciplined prioritization of the most promising programs plus continued ability to attract partners for expensive late‑stage trials.

Summary

Overall, Prothena is a science‑driven, partnership‑heavy biotech with modest and irregular revenue, consistent losses, and a sizeable but gradually shrinking cash reserve. Its balance sheet looks relatively clean, with low debt and substantial cash, giving it time to pursue its pipeline, but not unlimited runway. The real value driver is the clinical and regulatory outcome of a few key programs being developed with major pharma partners, along with earlier Alzheimer’s and neurodegeneration assets that are still emerging. This creates a profile of high scientific potential but also high uncertainty, where future milestones and trial readouts are far more important than recent reported earnings in shaping the company’s long‑term prospects.

NEWS

November 19, 2025 · 4:05 PM UTC

Prothena Announces Poster Presentation on its TDP-43 CYTOPE® Program at Neuroscience 2025

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November 11, 2025 · 9:00 AM UTC

Prothena Highlights Phase 2 Data for Coramitug (Formerly PRX004) Published in Circulation, Official Journal of AHA

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November 6, 2025 · 4:05 PM UTC

Prothena Reports Third Quarter 2025 Financial Results and Business Highlights

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October 1, 2025 · 4:45 PM UTC

Prothena's Partner Bristol Myers Squibb Obtains Fast Track Designation from the U.S. FDA for BMS-986446 (PRX005), an Anti-MTBR-Tau-Targeting Antibody, for the Treatment of Alzheimer's Disease

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