Biotech firm Prothena's Q2 net loss narrows on lower expenses
PRTA•Outlook and analyst coverage
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Prothena now expects to end 2026 with about $259 mln in cash, down from $273 mln prior guidance
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Company continues to expect 2026 net cash used in operating and investing activities of $18-23 mln
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2026 guidance excludes a potential $55 mln milestone payment from Bristol Myers Squibb
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The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
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The average consensus recommendation for the biotechnology & medical research peer group is "buy."
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Wall Street's median 12-month price target for Prothena Corporation PLC is $20.00, about 135.6% above its August 5 closing price of $8.49
Q2 results and expense trends
- US biotech firm's Q2 revenue declined sharply from prior year
- Q2 net loss narrowed yr/yr, reflecting lower R&D and G&A expenses
- Company repurchased 1.45 mln shares in Q2, lowering year-end cash guidance
Company press release: ID:nBwbHnWmva
