Prothena’s consensus price target has been revised down to $12.00, reflecting weaker expectations primarily due to a notable decline in net profit margin and a reduced future P/E multiple.
What's in the News
- Prothena reported Phase 1 ASCENT program results for PRX012 in early symptomatic Alzheimer's, showing stable pharmacokinetics, low immunogenicity, significant amyloid reduction, but higher ARIA-E rates compared to FDA-approved antibodies; company plans to seek partnerships for PRX012 and PRX012-TfR.
- PRX012 may offer once-monthly subcutaneous dosing with potential to lower ARIA risk in future trials using a preclinical transferrin receptor approach; additional data will not be publicly shared at this time.
- Prothena discontinued development of birtamimab and announced a ~63% workforce reduction to focus on remaining programs, expecting the cost-cutting move to be completed by year-end, incurring $16–$20 million in one-time severance and stock compensation charges.
- Updated 2025 financial guidance estimates a net loss of $240–$248 million, including costs from severance, contract terminations, and discontinued operations; net cash burn drops by ~$96 million annually due to birtamimab discontinuation.
Valuation Changes
Summary of Valuation Changes for Prothena
- The Consensus Analyst Price Target has significantly fallen from $15.00 to $12.00.
- The Net Profit Margin for Prothena has significantly fallen from 16.25% to 14.17%.
- The Future P/E for Prothena has fallen from 62.93x to 57.75x.
Disclaimer
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