Quarterly ResultAug 6, 2026, 04:30 PM
Prothena Q2 Net Loss $18.6M; H1 Net Income $14.1M; Pipeline Advances
AI Summary
Prothena Corporation plc reported a net loss of $18.6 million for the second quarter of 2026, or $0.36 per share, but achieved a net income of $14.1 million for the first six months of 2026. Total revenue for the first half of the year reached $52.1 million, significantly boosted by a $50 million milestone payment from Novo Nordisk. The company ended the quarter with $289.1 million in cash and updated its year-end cash guidance to $259 million, primarily due to share repurchases. Prothena also highlighted significant progress in its clinical pipeline, including the publication of prasinezumab Phase 2b results and ongoing Phase 3 trials for prasinezumab and coramitug.
Key Highlights
- Reported Q2 2026 net loss of $18.6 million and H1 2026 net income of $14.1 million.
- Q2 2026 basic and diluted net loss per share was $0.36.
- Total revenue for H1 2026 was $52.1 million, including a $50 million milestone from Novo Nordisk.
- R&D expenses decreased to $8.8 million in Q2 2026 from $40.5 million in Q2 2025.
- Cash, cash equivalents, and restricted cash totaled $289.1 million as of June 30, 2026.
- Updated year-end cash guidance to $259 million (midpoint), reflecting $12 million in share repurchases.
- Prasinezumab Phase 2b PADOVA results published; Roche's Phase 3 PARAISO trial primary completion expected 2029.
- Coramitug Phase 3 CLEOPATTRA trial by Novo Nordisk primary completion expected 2029; granted Fast Track designation.
Price Impact
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