PROTHENA CORP PUBLIC LTD CO

Prothena Corporation plc announced that its Chief Development Officer, Chad J. Swanson, Ph.D., has resigned from his position. His resignation is effective October 9, 2026. Dr. Swanson is departing to take on a leadership role within a program partnered with Prothena at one of the company's strategic partners.

Prothena reported a net income of $14.1 million for the first six months of 2026, a substantial improvement from a net loss of $186.0 million in the same period last year, primarily driven by $50.1 million in license revenue. The company's total revenue for H1 2026 increased to $52.1 million from $7.2 million in H1 2025, while R&D expenses significantly decreased. For the second quarter of 2026, the net loss narrowed to $(18.6) million from $(125.8) million in Q2 2025. The company ended the period with $288.2 million in cash and cash equivalents and repurchased $22.5 million in ordinary shares.

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.

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.

Prothena Corporation plc reported a net income of $32.7 million for the first quarter of 2026, a significant improvement from a net loss of $60.2 million in Q1 2025. Total revenue for the quarter increased substantially to $51.1 million from $2.8 million in the prior year. The company received a $50 million clinical milestone payment from Novo Nordisk for coramitug, which also obtained Fast Track designation from the U.S. FDA. Prothena updated its full-year 2026 net cash used in operating and investing activities guidance to $18-$23 million and expects to end the year with approximately $273 million in cash, cash equivalents, and restricted cash.