| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 51.08 | 1705.0% |
| Total Income | 51.08 | 1705.0% |
| Expenditure | 21.05 | 69.2% |
| PBT | 32.72 | 153.3% |
| Net Profit | 32.72 | 154.3% |
| OPM | 58.80% | |
| NPM | 64.05% | |
| EPS | 0.61 | 154.5% |
Prothena Reports Q1 2026 Financial Results: Net Income $32.7 Million
08 May 2026 · 8 May, 1:54 am
Summary
Prothena Corporation plc reported a net income of $32.7 million for the first quarter of 2026, a significant improvement from the $60.2 million net loss in the same period of the previous year. The company's total revenue increased substantially to $51.1 million, driven by a $50 million milestone payment from Novo Nordisk. Prothena updated its full-year 2026 net cash usage guidance to $18 to $23 million and expects to end the year with approximately $273 million in cash. The company also initiated a share repurchase program for up to $100 million.
Key Highlights
- 1
Prothena reported net income of $32.7 million for the first quarter of 2026, compared to a net loss of $60.2 million for the first quarter of 2025.
- 2
Total revenue for the first quarter of 2026 was $51.1 million, compared to $2.8 million for the first quarter of 2025.
- 3
Net cash provided by operating and investing activities was $28.9 million for the first quarter of 2026, with a quarter-end cash and restricted cash position of $330.3 million.
- 4
Novo Nordisk obtained Fast Track designation from the U.S. FDA for coramitug (PRX004) and paid Prothena a $50 million clinical milestone payment related to Phase 3 enrollment.
- 5
Prothena updates projected full year 2026 net cash used in operating and investing actives to be $18 to $23 million and expects to end the year with approximately $273 million in cash, cash equivalents and restricted cash.
- 6
Prothena initiated a share repurchase program to be conducted in 2026 for up to $100 million if deemed appropriate.
- 7
Basic net income per share was $0.61 and fully dilutive net income per share was $0.60 for the first quarter of 2026, as compared to a basic and dilutive net loss per share of $1.12 for the first quarter of 2025.
Management Comments
Gene Kinney
“In the quarter we were encouraged by updates on our partnered Phase 3 clinical programs. Roche delivered several presentations highlighting the potential of prasinezumab for Parkinson’s disease at AD/PD 2026, including a ‘time saved’ analysis demonstrating approximately two years in delay of disease progression over a five year period from the PASADENA open-label extension study, longer-term data from the PADOVA open-label extension study showing a sustained effect of prasinezumab on disease progression, and exploratory biomarker analyses of the PADOVA trial suggesting that prasinezumab may impact the underlying disease biology. Novo Nordisk recently obtained Fast Track designation from the U.S. FDA for coramitug in ATTR-CM and delivered $50 million to Prothena upon achievement of a Phase 3 clinical milestone,” “In addition, we are engaged in multiple research collaborations with industry partners exploring the potential of our CYTOPE® technology. Finally, our team continues to explore additional research collaborations and licensing partnerships to further advance our programs.”
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