Prothena reports Q3 net income of $21.9M; revenue surges to $84.9M on BMS license

PROTHENA CORP PUBLIC LTD CO

2023-Q3 EPS reported -$1.50 revenue$91,054,000

Net income of $21.9M ($0.38 diluted EPS) vs net loss of $45.8M in Q3 2022; first nine months net loss of $79.6M.
Revenue of $84.9M, primarily from $72.9M collaboration revenue from BMS tau license including $55M option fee.
Cash and restricted cash $673.1M at Sept 30, 2023; guidance for year-end ~$600M.
Upcoming milestones: PRX012 Phase 1 data by year-end 2023; AFFIRM-AL topline in 2024; prasinezumab Phase 2b in 2024.
R&D expenses rose to $57.9M (+45% YoY) due to higher clinical trial costs.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PROTHENA CORP PUBLIC LTD CO reported third quarter ended September 30, 2023 results: revenue 84.9 million, net income 21.9 million, EPS 0.38.

Period: third quarter ended September 30, 2023
Revenue: 84.9 million
Net income: 21.9 million
EPS: 0.38
Result: reported results

Exact text from the filing

Prothena reported net income of $21.9 million and net loss of $79.6 million , respectively, as compared to a net loss o f $45.8 million and $123.3 million for the third quarter and first nine months of 2022, respectively. Net income per share on a diluted basis for the third quarter was $0.38 and net loss per share for the first nine months of 2023 was $1.50 , a s compared to net loss per share of $0.97 and $2.63 f or the third quarter and first nine months of 2022, respectively. Prothena reported total revenue of $84.9 million and $91.1 million for the third quarter and first nine months of 2023, respectively, as compared to total revenue of $1.5 million and $4.0 million for the third quarter and first nine months of 2022

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Source: SEC EDGAR

accession 0001559053-23-000031

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