Prothena (PRTA) reported a Q4 FY2025 net loss of USD 21.6 million and a FY2025 net loss of USD 244.09 million. Q4 FY2025 total revenue was USD 0.02 million and FY2025 total revenue was USD 9.68 million, primarily collaboration revenue from Bristol Myers Squibb related to partial performance of Prothena’s PRX019 Phase 1 clinical trial obligation; FY2024 revenue included collaboration revenue from Bristol Myers Squibb tied to the PRX019 global license agreement, including an USD 80 million upfront payment. Q4 FY2025 R&D expenses were USD 14.59 million and FY2025 R&D expenses were USD 134.85 million, while Q4 FY2025 G&A expenses were USD 12.65 million and FY2025 G&A expenses were USD 59.39 million. Net cash used in operating and investing activities was USD 23.3 million in Q4 FY2025 and USD 163.7 million in FY2025; Prothena ended FY2025 with USD 308.4 million in cash, cash equivalents and restricted cash and no debt. For 2026, Prothena expects net cash used in operating and investing activities of USD 50 million to USD 55 million and expects to end the year with approximately USD 255 million in cash (midpoint), excluding potential to earn up to USD 105 million in aggregate clinical milestone payments from partners in 2026. On pipeline updates, Roche initiated the Phase 3 PARAISO trial of prasinezumab in early-stage Parkinson’s disease in Q4 FY2025 (primary completion expected in 2029), and Novo Nordisk initiated the Phase 3 CLEOPATTRA trial of coramitug in ATTR amyloidosis with cardiomyopathy in Q4 FY2025 (primary completion expected in 2029), with Prothena noting a potential coramitug clinical milestone in H1 2026 tied to Phase 3 enrollment criteria. Bristol Myers Squibb fully enrolled the Phase 2 TargetTau-1 trial of BMS-986446 in early Alzheimer’s disease (primary completion expected in H1 2027), completed a Phase 1 trial of a subcutaneous formulation, and received FDA Fast Track designation for BMS-986446. Prothena also highlighted its TDP-43 CYTOPE preclinical program data presentations and said it is developing PRX012-TfR in preclinical studies after Phase 1 ASCENT results showed robust plaque clearance at 400 mg but non-competitive ARIA-E rates. Separately, Prothena said shareholders approved a share capital reduction to create distributable reserves to support a potential share redemption program in 2026, subject to board discretion and financial condition.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Prothena Corporation plc published the original content used to generate this news brief via Business Wire (Ref. ID: 202602191605BIZWIRE_USPR_____20260219_BW016841) on February 19, 2026, and is solely responsible for the information contained therein.