PRTA earnings analysis
What we found in PRTA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Prothena Corporation reported a strong Q1 2026 with revenues of $51.08 million and earnings per share (EPS) of $0.60, significantly beating estimates of $2 million and -$0.31, respectively. The company has reduced its net cash used guidance for 2026 to between $18 million and $23 million, following progress in cash inflows from milestone payments.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Significant Revenue Beat
- Q1 revenue reached $51.1 million, substantially surpassing the estimated revenue of $2 million.
- Positive EPS Surprise
- Actual EPS of $0.60 exceeded the estimated EPS of -$0.31.
- Improved Cash Guidance
- Projected net cash used for the year has been lowered to $18-23 million from a prior estimate of $50-55 million.
- Milestone Payment from Novo Nordisk
- Received a key milestone payment of $50 million from Novo Nordisk.
- Strong Net Income
- Net income for Q1 was reported at $32.7 million.
- Cash Reserves
- End of quarter cash and cash equivalents totaled $329.5 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Ongoing Cash Burn Risks
- Despite revenue growth, the company projects continued net cash burn, raising concerns in the longer term.
- Dependence on Milestone Payments
- Future liquidity heavily relies on milestone payments from collaborations, which may not be guaranteed.
- Restructuring Credit
- The company faces potential investor concerns regarding restructuring efforts and financial stability.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.6
What they said about what is next.
Guidance reflects improved financial projections following milestone payments.
The filing reads better than the one before it.
What came before.
- 10-K · February 27, 2026
- Prothena positions itself as a late‑stage, biology‑directed biotech focused on therapies for protein dysregulation (e.g., Parkinson’s, ATTR amyloidosis, Alzheimer’s, ALS) and is advancing multiple partnered late‑stage…
- 10-Q · August 4, 2025
- Prothena reported Q2 revenue of $4.42 million and a GAAP net loss of $125.8 million (loss per share $2.34) driven by R&D, G&A and a $32.6 million restructuring charge. Cash and cash equivalents were $371.4 million at…
- 10-Q · May 4, 2023
- Prothena reported total revenue of $2,169 (in thousands) for the quarter ended March 31, 2023, up from $1,153 (in thousands) in the prior-year quarter, while R&D spend rose to $44,756 (in thousands) driving a larger…
- 10-K · February 28, 2023
- Prothena positions itself as a biology-directed discovery company focused on protein dysregulation with a diversified pipeline (including five therapeutic antibody programs) and multiple partner collaborations (Roche,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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