Prothena Corporation plc has released its financial results for the first quarter of 2025, reporting a net loss of $60.2 million, which is an improvement compared to the $72.2 million net loss reported for the same period in 2024. The company's total revenue for the first quarter of 2025 increased significantly to $2.8 million from $0.1 million in the first quarter of 2024. This increase in revenue was primarily attributed to collaboration revenue from Bristol Myers Squibb, related to the partial performance of the PRX019 Phase 1 clinical trial obligation. Research and development expenses also decreased, totaling $50.8 million in Q1 2025, compared to $64.1 million in Q1 2024. As of March 31, 2025, Prothena reported having $418.8 million in cash, cash equivalents, and restricted cash, with no debt. Prothena has provided an update on its business operations, anticipating topline results from the confirmatory Phase 3 AFFIRM-AL clinical trial of birtamimab for AL amyloidosis in the second quarter of 2025. Additionally, multiple clinical readouts for PRX012, a potential treatment for Alzheimer's disease, are expected to begin around mid-2025 and continue throughout the year. The company remains on track to becoming a commercial-stage biotech firm, with significant developments anticipated throughout the year.