PROTHENA CORP PUBLIC LTD CO
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
PRTA$8.56-2.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements (unaudited)
ITEM 1. FINANCIAL STATEMENTS
Condensed Consolidated Balance Sheets (unaudited)
(in thousands, except share and per share data)
| September 30, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $271,368 | $307,531 |
| Prepaid expenses and other current assets | 2,494 | 7,662 |
| Total current assets | 273,862 | 315,193 |
| Non-current assets: | ||
| Property and equipment, net | 2,299 | 2,144 |
| Operating lease right-of-use assets | 6,017 | 8,125 |
| Restricted cash, non-current | 860 | 860 |
| Other non-current assets | 482 | 482 |
| Total non-current assets | 9,658 | 11,611 |
| Total assets | $283,520 | $326,804 |
| Liabilities and Shareholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $1,692 | $5,875 |
| Accrued research and development | 489 | 4,329 |
| Deferred revenue, current | — | 2,664 |
| Restructuring liability | 587 | 13,303 |
| Lease liability, current | 3,007 | 2,886 |
| Other current liabilities | 5,659 | 11,786 |
| Total current liabilities | 11,434 | 40,843 |
| Non-current liabilities: | ||
| Lease liability, non-current | 3,249 | 5,487 |
| Total non-current liabilities | 3,249 | 5,487 |
| Total liabilities | 14,683 | 46,330 |
| Commitments and contingencies (Note 6) | ||
| Shareholders’ equity: | ||
| Euro deferred shares, €22 nominal value: | — | — |
| Ordinary shares, $0.01 par value: | 513 | 538 |
| Issued and outstanding shares — 51,341,036 and 53,832,982 at September 30, 2026 and December 31, 2025, respectively | ||
| Additional paid-in capital | 1,617,128 | 1,626,369 |
| Accumulated deficit | (1,348,804) | (1,346,433) |
| Total shareholders’ equity | 268,837 | 280,474 |
| Total liabilities and shareholders’ equity | $283,520 | $326,804 |
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Collaboration revenue | $620 | $2,415 | $2,664 | $9,613 |
| Revenue from license and intellectual property | — | — | 50,050 | 50 |
| Total revenue | 620 | 2,415 | 52,714 | 9,663 |
| Operating expenses: | ||||
| Research and development | 8,427 | 28,938 | 29,852 | 120,266 |
| General and administrative | 10,594 | 13,238 | 34,159 | 46,746 |
| Restructuring costs | 420 | 479 | (1,410) | 33,088 |
| Total operating expenses | 19,441 | 42,655 | 62,601 | 200,100 |
| Loss from operations | (18,821) | (40,240) | (9,887) | (190,437) |
| Other income (expense): | ||||
| Interest income | 2,321 | 3,351 | 7,290 | 11,493 |
| Other income (expense), net | (7) | (23) | 231 | (306) |
| Total other income, net | 2,314 | 3,328 | 7,521 | 11,187 |
| Loss before income taxes | (16,507) | (36,912) | (2,366) | (179,250) |
| Provision for (benefit from) income taxes | 2 | (371) | 5 | 43,253 |
| Net loss | $(16,509) | $(36,541) | $(2,371) | $(222,503) |
| Basic and diluted net loss per ordinary share | $(0.32) | $(0.68) | $(0.05) | $(4.13) |
| Shares used to compute basic net loss per share | 51,437 | 53,830 | 52,422 | 53,828 |
Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net loss | $(2,371) | $(222,503) |
| Adjustments to reconcile net loss to cash used in operating activities: | ||
| Depreciation | 590 | 677 |
| Share-based compensation | 21,201 | 30,566 |
| Deferred income taxes | — | 43,239 |
| Reduction in the carrying amount of right-of-use assets | 2,172 | 2,083 |
| Reduction in restructuring liability - non-cash | (6,941) | — |
| Loss on disposal of fixed assets | 5 | 3 |
| Changes in operating assets and liabilities: | ||
| Prepaid and other assets | 5,221 | 9,178 |
| Accounts payable, accruals and other liabilities | (17,392) | (9,527) |
| Deferred revenue | (2,664) | (9,613) |
| Restructuring liability | (5,775) | 17,614 |
| Operating lease liabilities | (2,181) | (1,985) |
| Net cash used in operating activities | (8,135) | (140,268) |
| Investing activities | ||
| Purchases of property and equipment | (725) | (138) |
| Net cash used in investing activities | (725) | (138) |
| Financing activities | ||
| Repurchase of ordinary shares | (26,843) | — |
| Taxes paid related to net-share settlement of vested restricted stock units | (460) | — |
| Fees paid in connection with at-the-market offering | — | (139) |
| Net cash used in financing activities | (27,303) | (139) |
| Net decrease in cash, cash equivalents and restricted cash | (36,163) | (140,545) |
| Cash, cash equivalents and restricted cash, beginning of the year | 308,391 | 472,248 |
| Cash, cash equivalents and restricted cash, end of the period | $272,228 | $331,703 |
| Supplemental disclosures of cash flow information | ||
| U.S. Federal | $(967) | $900 |
| U.S. State and Local | 11 | 41 |
| Cash (received) paid for income taxes | $(956) | $941 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Right-of-use assets obtained in exchange for lease obligations | $64 | $224 |
| Acquisition of property and equipment included in accounts payable and accrued liabilities | $25 | $— |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the statement of financial position that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows.
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash and cash equivalents | $271,368 | $330,843 |
| Restricted cash, non-current | 860 | 860 |
| Total cash, cash equivalents and restricted cash, end of the period | $272,228 | $331,703 |
Condensed Consolidated Statements of Shareholders' Equity
(in thousands, except share data)
| Ordinary Shares · Additional Paid-in Capital · Accumulated Deficit · Total Shareholders' Equity | |||||
|---|---|---|---|---|---|
| Shares · Amount | |||||
| Balances at December 31, 2025 | 53,832,982 | $538 | $1,626,369 | $(1,346,433) | $280,474 |
| Share-based compensation | — | — | 6,915 | — | 6,915 |
| Issuance of ordinary shares upon vesting of restricted stock units | 33,233 | — | — | — | — |
| Repurchase of ordinary shares | (788,990) | (8) | (7,486) | — | (7,494) |
| Net income | — | — | — | 32,721 | 32,721 |
| Balances at March 31, 2026 | 53,077,225 | 530 | 1,625,798 | (1,313,712) | 312,616 |
| Share-based compensation | — | — | 7,878 | — | 7,878 |
| Issuance of ordinary shares upon vesting of restricted stock units | 122,000 | 1 | (1) | — | — |
| Repurchase of ordinary shares | (1,454,898) | (14) | (15,006) | — | (15,020) |
| Net loss | — | — | — | (18,583) | (18,583) |
| Balances at June 30, 2026 | 51,744,327 | 517 | 1,618,669 | (1,332,295) | 286,891 |
| Share-based compensation | — | — | 5,442 | — | 5,442 |
| Issuance of ordinary shares upon vesting of restricted stock units, net of tax | 98,201 | 1 | (461) | — | (460) |
| Repurchase of ordinary shares | (501,492) | (5) | (4,324) | — | (4,329) |
| Reclassification of cash-settled restricted stock units from equity to liability | — | — | (2,198) | — | (2,198) |
| Net loss | — | — | — | (16,509) | (16,509) |
| Balances at September 30, 2026 | 51,341,036 | $513 | $1,617,128 | $(1,348,804) | $268,837 |
| Ordinary Shares · AdditionalPaid-inCapital · AccumulatedDeficit · TotalShareholders' Equity | ||||||
|---|---|---|---|---|---|---|
| Shares · Amount | ||||||
| Balances at December 31, 2024 | 53,826,982 | $538 | $1,588,729 | $(1,102,341) | $486,926 | |
| Share-based compensation | — | — | 10,949 | — | 10,949 | |
| Net loss | — | — | — | (60,195) | (60,195) | |
| Balances at March 31, 2025 | 53,826,982 | 538 | 1,599,678 | (1,162,536) | 437,680 | |
| Share-based compensation | — | — | 12,418 | — | 12,418 | |
| Net loss | — | — | — | (125,767) | (125,767) | |
| Balances at June 30, 2025 | 53,826,982 | 538 | 1,612,096 | (1,288,303) | 324,331 | |
| Share-based compensation | 7,199 | 7,199 | ||||
| Issuance of ordinary shares upon vesting of restricted stock units | 3,000 | — | — | — | — | |
| Net loss | — | — | — | (36,541) | (36,541) | |
| Balances at September 30, 2025 | 53,829,982 | $538 | $1,619,295 | $(1,324,844) | $294,989 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.