Prothena Q2 net income $66.9M; BMS licenses PRX019 for $80M; year-end cash guidance raised to $468M

PROTHENA CORP PUBLIC LTD CO

2024-Q2 EPS reported -$0.10 revenue$132,064,000

Q2 net income $66.9M (diluted EPS $1.22) vs net loss $54.6M in Q2 2023; revenue $132M vs $4M.
BMS obtained exclusive global license for PRX019 for $80M upfront; potential milestones up to $617.5M.
Year-end cash guidance raised to ~$468M from $405M; net cash used guidance reduced to $148-160M.
Topline results expected: prasinezumab Phase 2b (2H 2024), birtamimab Phase 3 (4Q24-2Q25), coramitug Phase 2 (1H25).
Cash and restricted cash $565M as of June 30, 2024; no debt; ~53.8M shares outstanding.

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