Latest news with #PRTA
Yahoo
29-05-2025
- Business
- Yahoo
Citizens JMP Slashes Prothena (PRTA) to $29 from $78 After AFFIRM-AL Trial Fails
On May 27, Citizens JMP lowered the firm's price target on Prothena Corporation plc (NASDAQ:PRTA) to $29 from $78 but kept an Outperform rating on the shares. The notable price target decrease came after Prothena Corporation plc (NASDAQ:PRTA) announced negative results from the Phase 3 AFFIRM-AL trial for birtamimab in AL amyloidosis on May 23. The trial missed the primary and secondary endpoints, which is why the company plans to discontinue it. A biopharmaceutical facility with technicians working on a manufacturing line of treatments and preventions. The analyst told investors in a research note that substantial cost-reducing initiatives are expected to follow the discontinuation of the AFFIRM-AL trial, including a considerable workforce reduction. Citizens JMP also announced plans to remove birtamimab from its model. However, the firm is bullish on Prothena Corporation plc (NASDAQ:PRTA), primarily due to the potential success of PRX012, its anti-Abeta immunotherapy for Alzheimer's disease. Prothena Corporation (NASDAQ:PRTA) is a clinical-stage neuroscience company that discovers and develops novel therapies for serious diseases. Its clinical pipeline includes both partnered and wholly owned therapies for AL amyloidosis, Alzheimer's disease, ATTR amyloidosis, Parkinson's disease, and other neurodegenerative diseases. While we acknowledge the potential of PRTA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRTA and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Oppenheimer Downgrades Prothena Corporation (NASDAQ:PRTA) to Perform from Outperform
Oppenheimer downgraded Prothena Corporation plc (NASDAQ:PRTA) to Perform from Outperform on May 27 without a price target. This rating update came after Prothena Corporation's (NASDAQ:PRTA) May 23 announcement that its Phase 3 AFFIRM-AL trial for birtamimab in amyloid light chain amyloidosis failed to meet the primary endpoint of all-cause mortality. A doctor examining the results of a patient's medical scan displayed on a computer monitor. The analyst told investors in a research note that with a hazard ratio of 0.915, there was essentially an overlap between the survival curve for birtamimab and the control arm. Failing to meet primary and secondary endpoints, Prothena Corporation (NASDAQ:PRTA) is discontinuing the trial. Despite these negative results, Oppenheimer remains optimistic about the company's prospects, primarily due to its various partnered and internal programs. However, the firm did comment that the AFFIRM-AL catalyst was the key driver of its bullish thesis. Prothena Corporation (NASDAQ:PRTA) is a clinical-stage neuroscience company that discovers and develops novel therapies for serious diseases. Its clinical pipeline includes both partnered and wholly owned therapies for AL amyloidosis, Alzheimer's disease, ATTR amyloidosis, Parkinson's disease, and other neurodegenerative diseases. While we acknowledge the potential of PRTA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRTA and that has 100x upside potential, check out our report about the . READ NEXT: and . Disclosure: None.
Business Insider
24-05-2025
- Business
- Business Insider
Prothena announces AFFIRM-AL trial did not meet primary endpoint
Prothena (PRTA) announced the Phase 3 AFFIRM-AL clinical trial evaluating birtamimab in patients with AL amyloidosis did not meet its primary endpoint. Based on these results, the company will discontinue the development of birtamimab, including stopping the open label extension of the AFFIRM-AL clinical trial. In the Phase 3 AFFIRM-AL clinical trial, the primary endpoint of time to all-cause mortality was not met for patients treated with birtamimab. In addition, neither of the secondary endpoints were met: 6-minute walk test distance and Short Form-36 version 2 Physical Component Score. Birtamimab was generally safe and well-tolerated, consistent with its established safety profile. In June, the company expects to provide details of plans to reduce ongoing operating expenses. The results of the company's review of its business options will be communicated as appropriate once the analysis and plans are finalized. Confident Investing Starts Here:
San Francisco Chronicle
08-05-2025
- Business
- San Francisco Chronicle
Prothena: Q1 Earnings Snapshot
DUBLIN (AP) — DUBLIN (AP) — Prothena Corp. (PRTA) on Thursday reported a loss of $60.2 million in its first quarter. The Dublin-based company said it had a loss of $1.12 per share. The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 92 cents per share. The drug developer posted revenue of $2.8 million in the period. _____
Yahoo
23-02-2025
- Business
- Yahoo
Prothena Q4 Earnings Miss Estimates, Pipeline Progress in Focus
Prothena Corporation PRTA reported fourth-quarter 2024 loss per share of $1.08, wider than the Zacks Consensus Estimate of a loss of $1.02. In the year-ago quarter, the company posted a loss of $1.26 cents per share. The bottom line improved year over year due to higher revenues and lower expenses. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. Revenues totaled $2.1 million, which missed the Zacks Consensus Estimate of $14 million. PRTA recorded revenues of $316,000 for the fourth quarter of 2023. The company's shares have lost 43.6% in the past year compared with the industry's decline of 5.5%. Image Source: Zacks Investment Research Research and development (R&D) expenses decreased 19% year over year to $50.2 million, primarily due to lower clinical trial expenses and lower manufacturing costs. General and administrative expenses amounted to $16.8 million, down from $16.9 million in the year-ago quarter. As of Dec. 31, 2024, Prothena had $472.2 million in cash, cash equivalents and restricted cash, and no debt. Prothena is evaluating PRX012 — a wholly owned investigational next-generation subcutaneous, single-injection once-monthly antibody delivered subcutaneously targeting a key epitope at the N-terminus of amyloid beta (Aβ) — for treating Alzheimer's Disease (AD). It has currently enrolled approximately 260 patients in the ASCENT clinical trials and expects to report multiple clinical readouts from the ongoing ASCENT studies beginning mid-2025. PRTA is advancing an early-stage pipeline of programs for several potential neurological indications with Bristol Myers BMY. BMS-986446 (formerly PRX005) is designed to be a best-in-class anti-tau, MTBR-specific antibody for the potential treatment of AD. Bristol Myers continues to enroll (approximately 475 patients) with early AD in the ongoing phase II study on BMS-986446. The study is expected to be completed in 2027. The company is responsible for all the development, manufacturing and commercialization of BMS-986446. PRX019, a potential treatment for neurodegenerative diseases with an undisclosed target, is also being developed in collaboration with BMY. PRTA has initiated a phase I first-in-human clinical trial on PRX019 to evaluate the safety, tolerability, immunogenicity, and pharmacokinetics of single ascending and multiple doses in healthy adults. The phase I study is expected to be completed in 2026. Prothena is also developing a dual Aβ-Tau vaccine, PRX123, a potential prevention and treatment for AD. It is a dual-target vaccine targeting key epitopes within the N-terminus of Aβ and MTBR-tau, designed to promote amyloid clearance and block the transmission of pathogenic tau. The FDA cleared an investigational new drug application. The regulatory body granted Fast Track designation to PRX123 for the treatment of AD. Prothena expects to update plans for the phase I study in 2025. The company is evaluating prasinezumab, in collaboration with Roche RHHBY, for the treatment of Parkinson's disease (PD). Roche reported that data from the phase IIb PADOVA study in patients with early-stage Parkinson's disease showed that it missed the primary endpoint but showed a numerical delay in motor progression and positive trends on multiple secondary and exploratory endpoints, suggesting possible clinical benefit. It will continue to evaluate the data and collaborate with health authorities to determine the next steps. Prothena is also evaluating birtamimab, a wholly-owned potential treatment for AL amyloidosis. It reached a Special Protocol Assessment agreement with the FDA and initiated a confirmatory phase III AFFIRM-AL study of birtamimab in Mayo Stage IV patients with AL amyloidosis. Top-line results from the study are expected in the second quarter of 2025. Novo Nordisk NVO acquired Prothena's clinical-stage antibody, Coramitug (formerly PRX004), a potential first-in-class amyloid depleter antibody for the treatment of ATTR amyloidosis with cardiomyopathy. NVO is conducting an ongoing phase II study in patients with ATTR cardiomyopathy. The study, expected to be completed in 2025, has completed enrollment of approximately 99 patients. Prothena Corporation plc Price, Consensus and EPS Surprise Prothena Corporation plc price-consensus-eps-surprise-chart | Prothena Corporation plc Quote Revenues totaled $135.1 million, up from $91.4 million in 2023. Collaboration revenues from BMY were primarily recognized from the license agreement for PRX019. Loss per share was $2.27 in 2024, marking an improvement from a loss of $2.76 in 2023. The company expects 2025 net cash burn from operating and investing activities to be in the range of $168-$175 million. It expects year-end cash, cash equivalents and restricted cash midpoint to be approximately $301 million. Net loss for 2025 is projected to be in the $197-$205 million range. PRTA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Bristol Myers Squibb Company (BMY) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Prothena Corporation plc (PRTA) : Free Stock Analysis Report To read this article on click here. Zacks Investment Research Sign in to access your portfolio
