PROTHENA CORPORATION Reports Total Revenue of USD 4.0 million, Net Income of USD -54.6 million for Q2 FY2023
August 11, 2023
🌥️Earnings Overview
For the second quarter of FY2023 ending June 30 2023, PROTHENA CORPORATION ($NASDAQ:PRTA) reported a total revenue of USD 4.0 million and a net income of USD -54.6 million, compared to the corresponding period in the previous year when total revenue was USD 1.3 million and net income was -41.2 million.
Share Price
This resulted in a decrease of 1.5% from the previous closing price of 67.5. The company’s stock opened at $66.8 and closed at $66.5, indicating a downward trend for the day. Despite the reported negative net income, the company was able to maintain its total revenue and keep costs under control in order to sustain its operations.
Going forward, PROTHENA CORPORATION is looking to improve its operational efficiency and increase revenues from other sources in order to drive profitability. The company is also actively exploring ways to reduce costs and streamline operations in order to maximize shareholder returns. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Prothena Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 57.63 | -140.87 | -244.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Prothena Corporation. More…
| Operations | Investing | Financing |
| -128.53 | -1.1 | 280.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Prothena Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 720.65 | 138.97 | 11.03 |
Key Ratios Snapshot
Some of the financial key ratios for Prothena Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 316.6% | – | -300.6% |
| FCF Margin | ROE | ROA |
| -224.9% | -18.2% | -15.0% |
Analysis
GoodWhale is here to provide you with an analysis of PROTHENA CORPORATION‘s fundamentals. After a careful evaluation, we have concluded that PROTHENA CORPORATION is a high risk investment in terms of financial and business aspects. We have detected four risk warnings in income sheet, balance sheet, cashflow statement, and non-financial areas. To get an in-depth look at the risks associated with this investment, become a registered user with GoodWhale. More…
Peers
In the biotechnology industry, there is always intense competition between companies as they jockey to bring new and innovative treatments to market. In the last few years, the competition has heated up even more, as companies are racing to develop new therapies for a variety of diseases. Among the companies vying for leadership in this space are Prothena Corp PLC, CytoDyn Inc, Cue Biopharma Inc, and NextCure Inc. All of these companies are working on cutting-edge therapies that have the potential to change the way we treat disease.
– CytoDyn Inc ($OTCPK:CYDY)
CytoDyn Inc is a biotechnology company that is focused on the development of immunotherapies for the treatment of cancer and HIV. The company’s most advanced product is leronlimab, which is in Phase 3 clinical trials for the treatment of metastatic breast cancer and non-small cell lung cancer. CytoDyn also has a number of other products in various stages of development, including a therapy for HIV that has shown promising results in early clinical trials.
The company’s market cap is $357.64 million as of 2022 and its Return on Equity is 89.73%. CytoDyn has a strong financial position and is well-positioned to continue developing its innovative therapies.
– Cue Biopharma Inc ($NASDAQ:CUE)
Cue Biopharma Inc is a clinical-stage biopharmaceutical company that focuses on the development of therapeutic antibodies for the treatment of cancer and autoimmune diseases. The company’s market cap is $90.93M and its ROE is -77.41%. Cue Biopharma’s products are designed to target specific diseased cells while sparing healthy cells, which may improve patient outcomes and reduce side effects.
– NextCure Inc ($NASDAQ:NXTC)
NextCure, Inc., a biopharmaceutical company, discovers, develops, and commercializes immuno-oncology therapeutics to treat patients with cancer in the United States. The company’s lead product candidates include NC401, an anti-CD19 monoclonal antibody that is in Phase II clinical trials for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), as well as other CD19-positive malignancies; and NC610, an anti-PD-1 monoclonal antibody, which is in Phase I/II clinical trials to treat patients with various solid tumors. NextCure, Inc. was founded in 2015 and is headquartered in Beltsville, Maryland.
NextCure’s market cap and ROE indicate that it is a large and established company that is doing well financially. NextCure’s focus on immuno-oncology therapeutics sets it apart from other companies in the biopharmaceutical industry, and its products are currently in clinical trials for the treatment of various types of cancer. If these trials are successful, NextCure could become a leader in the immuno-oncology therapeutics market.
Summary
PROTHENA CORPORATION‘s second quarter revenue for FY2023 ending June 30 2023 was USD 4.0 million, a significant increase from the previous year’s USD 1.3 million. Unfortunately, net income for the same quarter decreased to -54.6 million, from -41.2 million in the prior year. This indicates that despite increased revenue, PROTHENA may be struggling to manage their expenses and generate profits. Investors should evaluate the company’s financials closely to make an informed decision before investing.
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