Quarterly ResultMay 7, 2026, 04:33 PM
Prothena Swings to Q1 Profit of $32.7M; Revenue Jumps to $51.1M
AI Summary
Prothena Corporation plc reported a significant financial turnaround for the first quarter of 2026, swinging to a net income of $32.7 million, or $0.60 diluted EPS, compared to a net loss of $60.2 million in the prior year. Total revenue surged to $51.1 million, primarily driven by a $50.05 million revenue from license and intellectual property, likely a milestone payment from Novo Nordisk. The company also saw reduced operating expenses, including a substantial decrease in research and development costs, and repurchased $6.9 million in ordinary shares.
Key Highlights
- Net income was $32.7 million for Q1 2026, a significant improvement from a $60.2 million net loss in Q1 2025.
- Total revenue increased to $51.1 million in Q1 2026 from $2.8 million in Q1 2025.
- Diluted net income per ordinary share was $0.60 in Q1 2026, up from a $(1.12) loss in Q1 2025.
- Revenue from license and intellectual property was $50.05 million in Q1 2026, compared to $0.05 million in Q1 2025.
- Research and development expenses decreased to $12.6 million in Q1 2026 from $50.8 million in Q1 2025.
- Cash and cash equivalents stood at $329.5 million as of March 31, 2026.
- The company repurchased $6.9 million of ordinary shares during Q1 2026.
- Accumulated deficit reduced to $1.31 billion as of March 31, 2026, from $1.35 billion at December 31, 2025.
Price Impact
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