NASDAQ$PRTA
Prothena Corporation plc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results for the second quarter and first six months of 2023 and provided business highlights.
Prothena reported a net loss of $54.6 million, with total revenue of $4.0 million primarily from collaboration revenue from Bristol Myers Squibb. The company's cash and restricted cash position at quarter-end was $661.3 million. They revised year-end cash guidance to approximately $600 million.
- Net cash used in operating and investing activities was $45.7 million in the second quarter and quarter-end cash and restricted cash position was $661.3 million.
- Revised year-end cash guidance to be approximately $600 million in cash, cash equivalents and restricted cash, representing an increase of $88 million from prior guidance of $512 million.
- Bristol Myers Squibb (BMS) obtained the $55 million exclusive worldwide license to PRX005 in July, expanding on the exclusive U.S. license from July 2021.
- Phase 3 VITAL clinical trial results in Blood, the peer-reviewed journal of ASH; data showed a significant survival benefit for birtamimab in patients with Mayo Stage IV AL amyloidosis, as well as significant improvements across key secondary endpoints
Headline financials
Revenue & EPS history
Prothena · Revenue · Quarterly
$4.02M
Revenue by segment
Prothena · $4.02M total across 1 segment · Q2 2023
- Collaboration Revenue$4.02M+209.2%100.0%
Forward guidance
The Company is updating its projected full year 2023 net cash burn from operating and investing activities, and expects it to be $148 to $161 million, and expects to end the year with approximately $600 million in cash, cash equivalents and restricted cash.
Tailwinds
- Year-end cash guidance increased by $88 million from prior guidance.
- Increase in cash position is primarily driven by Bristol Myers Squibb obtaining the $55 million exclusive worldwide rights for PRX005
- Increase in cash position is due to financing proceeds received in the first half of 2023
- Increase in cash position is due to higher interest income.
Headwinds
- Projected full year 2023 net cash burn from operating and investing activities of $148 to $161 million
- Estimated net loss of $153 to $171 million
- Includes an estimated $42 million of non-cash share-based compensation expense.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.5%
Avg return
Earnings day
+0.4%
Avg return
5 days after
+0.2%
Avg return
30 days after
57%
30 / 53 earnings
Positive
+45.3%
Q4 2020
Best reaction
-12.0%
Q1 2016
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | -8.7% | -16.5% | |
| Q4 2025 | -0.2% | -1.7% | -3.1% | |
| Q3 2025 | +5.2% | +7.6% | +9.8% | |
| Q1 2025 | +5.2% | -3.0% | -23.8% | |
| Q4 2024 | +2.0% | -4.6% | -15.0% | |
| Q3 2024 | -4.7% | -22.5% | -23.6% | |
| Q2 2024 | +6.7% | +3.7% | +5.6% | |
| Q1 2024 | -6.5% | -12.0% | -10.2% | |
| Q4 2023 | +2.7% | +0.9% | -4.5% | |
| Q3 2023 | +2.4% | -0.7% | -4.9% | |
| Q2 2023 | -8.7% | -9.7% | -18.3% | |
| Q1 2023 | +17.2% | +13.0% | +2.9% | |
| Q4 2022 | +4.6% | +7.0% | -9.7% | |
| Q3 2022 | -8.8% | -6.6% | +8.6% | |
| Q2 2022 | -8.5% | -2.8% | -19.1% | |
| Q1 2022 | -4.7% | -13.7% | -12.0% | |
| Q4 2021 | -9.6% | -8.3% | +5.1% | |
| Q3 2021 | -0.7% | -4.8% | -21.5% | |
| Q2 2021 | +5.0% | +5.8% | +30.5% | |
| Q1 2021 | -6.6% | -1.8% | +90.3% | |
| Q4 2020 | +45.3% | +46.2% | +46.5% | |
| Q3 2020 | +20.9% | +7.3% | +1.5% | |
| Q2 2020 | +3.5% | +1.5% | +8.2% | |
| Q1 2020 | -7.9% | -0.8% | -11.7% | |
| Q4 2019 | -0.1% | +0.9% | -22.7% | |
| Q3 2019 | -3.1% | -3.0% | +32.7% | |
| Q2 2019 | +2.4% | -2.2% | -1.3% | |
| Q1 2019 | +2.7% | -1.9% | -16.2% | |
| Q4 2018 | +3.1% | +4.3% | +12.5% | |
| Q3 2018 | +0.6% | -4.1% | -9.8% | |
| Q2 2018 | +2.7% | +8.2% | +3.6% | |
| Q1 2018 | -2.4% | +13.1% | -1.2% | |
| Q4 2017 | +8.0% | +11.6% | +18.1% | |
| Q3 2017 | -9.2% | -8.6% | -34.4% | |
| Q2 2017 | -4.2% | -7.1% | -1.3% | |
| Q1 2017 | +11.2% | +12.2% | +3.2% | |
| Q4 2016 | +1.4% | +5.9% | +3.9% | |
| Q3 2016 | -5.6% | -8.3% | +14.3% | |
| Q2 2016 | +2.8% | +2.3% | -7.9% | |
| Q1 2016 | -12.0% | — | — | |
| Q4 2015 | +1.4% | — | — | |
| Q3 2015 | +10.9% | — | — | |
| Q2 2015 | -1.1% | — | — | |
| Q1 2015 | -8.5% | — | — | |
| Q4 2014 | -0.2% | — | — | |
| Q3 2014 | -6.0% | — | — | |
| Q2 2014 | +12.2% | — | — | |
| Q1 2014 | +1.0% | — | — | |
| Q4 2013 | +0.5% | — | — | |
| Q3 2013 | +4.7% | — | — | |
| Q2 2013 | -1.6% | — | — | |
| Q1 2013 | +11.9% | — | — | |
| Q4 2012 | +0.6% | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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