---
title: "Prothena | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 51.08 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285658954.md"
datetime: "2026-05-08T03:37:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285658954.md)
  - [en](https://longbridge.com/en/news/285658954.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285658954.md)
generator: "portal-rs"
---

# Prothena | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 51.08 M

Revenue: As of FY2026 Q1, the actual value is USD 51.08 M, beating the estimate of USD 0.

EPS: As of FY2026 Q1, the actual value is USD 0.6, beating the estimate of USD -0.3483.

EBIT: As of FY2026 Q1, the actual value is USD 27.35 M.

### Net Income

Prothena Corporation plc reported a net income of $32.7 million for the first quarter of 2026, a significant improvement compared to a net loss of - $60.2 million for the first quarter of 2025.

### Revenue

Total revenue for the first quarter of 2026 was $51.1 million, an increase from $2.8 million in the first quarter of 2025. This revenue primarily included a $50.0 million milestone payment from Novo Nordisk related to the ongoing Phase 3 clinical trial for coramitug, along with collaboration revenue from Bristol Myers Squibb for the partial performance of the PRX019 Phase 1 clinical trial obligation.

### Operating Expenses

Research and development (R&D) expenses decreased to $12.6 million for the first quarter of 2026, down from $50.8 million in the first quarter of 2025. These R&D expenses included non-cash share-based compensation of $2.0 million for the first quarter of 2026, compared to $4.8 million for the same period in 2025. General and administrative (G&A) expenses also decreased to $12.7 million for the first quarter of 2026 from $17.6 million in the first quarter of 2025. G&A expenses included non-cash share-based compensation of $4.9 million for the first quarter of 2026, compared to $6.1 million for the first quarter of 2025. Prothena Corporation plc recorded an aggregate restructuring credit of approximately $4.2 million for the first quarter of 2026. Total non-cash share-based compensation expense was $6.9 million for the first quarter of 2026, compared to $10.9 million for the first quarter of 2025.

### Cash Flow and Position

Net cash provided by operating and investing activities was $28.9 million for the first quarter of 2026. As of March 31, 2026, Prothena Corporation plc had $330.3 million in cash, cash equivalents, and restricted cash, with no debt.

### Share Repurchase Program

Prothena Corporation plc initiated a share repurchase program for up to $100 million in 2026. As of March 31, 2026, the company repurchased 788,990 ordinary shares for $7.3 million, excluding commissions and expenses. As of April 30, 2026, approximately 52.4 million ordinary shares were outstanding.

### Outlook / Guidance

Prothena Corporation plc updated its projected full-year 2026 net cash used in operating and investing activities to be $18 million to $23 million, a reduction from the prior guidance of $50 million to $55 million. The company expects to end 2026 with approximately $273 million (midpoint) in cash, cash equivalents, and restricted cash, an increase of $18 million from prior guidance. This improved cash position is primarily driven by a $50 million milestone payment from Novo Nordisk, partially offset by $15 million in cash utilized for share repurchase activities and increased investment in preclinical programs.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**