Published on 22 Oct 2023 on GuruFocus.com via Yahoo Finance
Prothena Corp PLC (PRTA) Reports Q3 2023 Financial Results
Prothena Corp PLC (NASDAQ:PRTA) reported net income of $21.9 million for Q3 2023, compared to a net loss of $45.8 million for Q3 2022.The company received a $55 million payment from Bristol Myers Squibb for exclusive worldwide license to PRX005.Prothena's cash and restricted cash position at the end of the quarter was $673.1 million.The company expects to deliver upcoming clinical milestones from wholly-owned and strategic partner programs over the next 15 months.
Warning! GuruFocus has detected 3 Warning Sign with PRTA.
Prothena Corp PLC (NASDAQ:PRTA), a late-stage clinical biotechnology company, released its financial results for the third quarter and first nine months of 2023 on November 2, 2023. The company reported a net income of $21.9 million for Q3 2023, compared to a net loss of $45.8 million for the same period in 2022. For the first nine months of 2023, the company reported a net loss of $79.6 million, compared to a net loss of $123.3 million for the same period in 2022.