Jun. 18 at 8:29 PM
$PRTA Prothena sees 2025 net cash burn from operating/investing at
$170M-
$178M
Based on the reorganization, Prothena is "revising its full year 2025 financial guidance and expects its 2025 net cash burn from operating and investing activities to be
$170 to
$178 million and to end the year with approximately
$298 million (midpoint) in cash, cash equivalents, and restricted cash.
The estimated 2025 net cash burn from operating and investing activities is primarily driven by an estimated net loss of
$240 to
$248 million, which includes an estimated
$36 million of non-cash share-based compensation expense and a
$45 million non-cash income tax expense to book a full valuation allowance against its U.S. deferred tax assets.
The estimated 2025 net loss includes
$105 to
$110 million of operating expenses associated with birtamimab and the Company's reorganization, including research, development, manufacturing and pre-commercial expenses, severance costs and contract termination fees related to manufacturing obligations, and approximately
$12 million of non-cash share-based compensation expense.
Therefore, the Company expects the discontinuation of birtamimab development will result in an approximate decrease of
$96 million (midpoint) in annualized net cash burn."
