| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.01 | 98.0% | 77.2% |
| Total Income | 1.01 | 98.0% | 77.2% |
| Expenditure | 22.11 | 5.0% | 75.2% |
| PBT | -18.58 | 156.8% | 77.0% |
| Net Profit | -18.58 | 156.8% | 85.2% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.36 | 159.0% | 84.6% |
Prothena Reports Q2 2026 Financial Results and Business Highlights
07 Aug 2026 · 7 Aug, 2:00 am
Summary
Prothena Corporation plc reported improved financial results for the second quarter and first six months of 2026. The company significantly reduced its net loss in Q2 2026 to $18.6 million from $125.8 million in Q2 2025, and achieved a net income of $14.1 million for the first six months of 2026, a substantial turnaround from a net loss of $186.0 million in the prior year. While Q2 revenue saw a decrease, the first six months revenue surged to $52.1 million, driven by milestone payments. Operating expenses, including R&D and G&A, were substantially lower year-over-year. Prothena updated its year-end cash guidance to approximately $259 million and highlighted progress in its clinical development pipeline, including positive publication of prasinezumab trial results.
Key Highlights
- 1
Prothena reported a net loss of $18.6 million for the second quarter of 2026, an improvement from a net loss of $125.8 million in the second quarter of 2025.
- 2
For the first six months of 2026, Prothena reported a net income of $14.1 million, compared to a net loss of $186.0 million in the same period of 2025.
- 3
Total revenue for the second quarter of 2026 was $1.0 million, a decrease from $4.4 million in the second quarter of 2025, but first six months revenue was $52.1 million, up significantly from $7.2 million in the prior year period.
- 4
Research and development expenses decreased to $8.8 million in Q2 2026 from $40.5 million in Q2 2025, and for the first six months, decreased to $21.4 million from $91.3 million.
- 5
General and administrative expenses also decreased to $10.9 million in Q2 2026 from $15.9 million in Q2 2025, and for the first six months, decreased to $23.6 million from $33.5 million.
- 6
The company ended the second quarter of 2026 with $289.1 million in cash, cash equivalents, and restricted cash, with no debt.
- 7
Prothena updated its full-year 2026 guidance, expecting to end the year with approximately $259 million (midpoint) in cash, cash equivalents, and restricted cash.
Management Comments
Gene Kinney
During the quarter, we were excited to see Roche publish results in The Lancet from the Phase 2b PADOVA trial evaluating prasinezumab in patients with early Parkinson’s disease, further supporting prasinezumab’s potential as a disease-modifying therapy. Roche is currently evaluating prasinezumab in the Phase 3 PARAISO trial, with primary completion expected in 2029. In addition, Novo Nordisk is conducting the Phase 3 CLEOPATTRA clinical trial evaluating coramitug in patients with ATTR amyloidosis with cardiomyopathy, with primary completion expected in 2029. We also expect our partner Bristol Myers Squibb to complete the ongoing Phase 2 TargetTau-1 clinical trial evaluating moponetug (BMS-986446) in patients with early Alzheimer’s disease in the first half of 2027. In total our partnered programs could generate up to approximately $3 billion in aggregate future milestone payments, plus potential royalties. We also remain actively engaged with industry partners in multiple research collaborations evaluating the potential of our CYTOPE® technology over the next 12 to 24 months. We believe these programs reinforce the potential of our proprietary CYTOPE® technology and our ability to generate additional research collaborations and licensing partnerships.
Informational and educational content only. Not investment advice.