PROTHENA CORP PUBLIC LTD CO (PRTA) Form 10-Q — Aug 6, 2026
Prothena reported a Q2 2026 net loss of $18.6 million, or $(0.36) per share, on total revenue of $1.0 million, a sharp improvement from the $125.8 million net loss on $4.4 million of revenue in the year-ago quarter, as total operating expenses fell 75% following the birtamimab discontinuation and 2025 restructuring. For the six months ended June 30, 2026, Prothena swung to net income of $14.1 million on revenue of $52.1 million, up 619% year over year, driven by a one-time $50.0 million development milestone from Novo Nordisk tied to coramitug's continued advancement in the Phase 3 CLEOPATTRA trial in ATTR-CM.
Key figures
- Eps
- $0.27 basic / $0.26 diluted for the six months ended June 30, 2026; $(0.36) for Q2 2026
- Revenue
- $52.1 million for the six months ended June 30, 2026 (vs. $7.2 million prior year); Q2 2026 revenue was $1.0 million
- Guidance
- Full year 2026 net cash used in operating and investing activities expected to be approximately $18 million to $23 million; existing cash sufficient to meet obligations for at least the next twelve months
- Net Income
- $14.1 million for the six months ended June 30, 2026 (vs. $(186.0) million prior year); $(18.6) million net loss in Q2 2026
- Revenue Yoy
- 619% increase for the six-month period, driven by the $50.0 million Novo Nordisk milestone
- Total Assets
- $302.6 million
- Cash Position
- $288.2 million as of June 30, 2026
- Shares Outstanding
- 51744327
- Q2 2026 revenue
- $1.0 million (down 77% YoY)
- Working capital
- $280.4 million (up $6.0 million from Dec 31, 2025)
- Total liabilities
- $15.7 million
- Q2 2026 rd expense
- $8.8 million (down 78% YoY)
- Accumulated deficit
- $1.3 billion
- Roche earned to date
- $135 million, with up to $620 million in additional milestones and double-digit teen royalties on prasinezumab
- Buyback authorization
- up to $100.0 million announced February 27, 2026, expiring December 31, 2026
- Bms milestone potential
- tau/moponetug: up to $187.5 million regulatory plus $375.0 million commercial; PRX019: up to $242.5 million development/regulatory plus $375.0 million commercial
- Share repurchases h1 2026
- 2,243,888 shares for approximately $22.3 million at average ~$9.93 per share (Q2: 1,454,898 shares for ~$15.0 million at ~$10.30)
- Six month operating cash flow
- $3.8 million provided (vs. $(99.7) million used in prior-year period)
- Novo nordisk milestone received
- $50.0 million for coramitug advancement in Phase 3 CLEOPATTRA
- Novo nordisk remaining sales milestones
- up to $1.08 billion
Price after filing
Close on the filing date to close N calendar days later (from $8.49). Historical, not a forecast.
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