Prothena Q3 2022 net loss $45.8M vs income $109.2M y/y; cash $497M; cuts FY22 net cash burn guidance to $108-120M

PROTHENA CORP PUBLIC LTD CO

2022-Q3 EPS reported -$2.63 revenue$3,982,000

Net loss $45.8M ($0.97 per share) vs net income $109.2M ($2.13 diluted EPS) in Q3 2021.
Total revenue $1.5M vs $139.2M y/y, primarily due to prior year BMS and Novo Nordisk milestones.
Cash and restricted cash $497.0M; no debt; shares outstanding ~48.4M as of Oct 26.
Updated FY2022 net cash burn guidance $108-120M (down from $120-132M); year-end cash ~$522M.
R&D expenses $39.9M in Q3 2022 vs $18.0M y/y, driven by manufacturing and clinical costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PROTHENA CORP PUBLIC LTD CO reported third quarter ended September 30, 2022 results: revenue $1.5 million, net income net loss of $45.8 million, EPS $0.97.

Period: third quarter ended September 30, 2022
Revenue: $1.5 million
Net income: net loss of $45.8 million
EPS: $0.97
Result: reported results

Exact text from the filing

For the third quarter and first nine months of 2022, Prothena reported a net loss of $45.8 million and $123.3 million, respectively, as compared to a net income o f $109.2 million and $100.2 million for the third quarter and first nine months of 2021, respectively. Net loss per share for the third quarter of 2022 and first nine months of 2022 was $0.97, and $2.63, respectively, a s compared to net income per share on a diluted basis of $2.13 and $2.12 f or the third quarter and first nine months of 2021, respectively. Prothena reported total revenue of $1.5 million and $4.0 million for the third quarter and first nine months of 2022, respectively, primarily from collaboration revenue from BMS.

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Source: SEC EDGAR

accession 0001559053-22-000046

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