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Source document· February 19, 2026

Prothena Reports Fourth Quarter and Full Year 2025 Financial Results, and Provides Financial Guidance and Business Highlights

View original at finance.yahoo.com
Prothena Reports Fourth Quarter and Full Year 2025 Financial Results, and Provides Financial Guidance and Business Highlights Net cash used in operating and investing activities was $23.3 million and $163.7 million for the fourth quarter and full year of 2025, respectively; quarter-end cash and restricted cash position…
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  • Partnered programs have the potential to earn up to approximately $3 billion in future aggregate milestones in addition to potential future royalties

    80% confidence
  • PRX012 patients on 400 mg dose for 18 months reached mean centiloid level of ~16.0 CL with 9 of 12 achieving amyloid negativity, but robust plaque clearance was associated with non-competitive rates of ARIA-E

    80% confidence
  • Expect to share more data from preclinical programs later this year (2026)

    80% confidence
  • Prasinezumab has peak sales potential greater than $3.5 billion (unadjusted) and could be the first disease-modifying treatment for Parkinson's disease

    80% confidence
  • Full year 2026 net cash used in operating and investing activities expected to be $50 to $55 million

    80% confidence
  • Expected to end 2026 with approximately $255 million in cash (midpoint)

    80% confidence
  • Estimated full year 2026 net loss of $67 to $72 million, including estimated $24 million of non-cash share-based compensation expense

    80% confidence
  • Potential to earn up to $105 million in aggregate clinical milestone payments from strategic partners in 2026

    80% confidence
What we know · the intelligence behind this page
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What we're seeing
Q4 2026 Biopharma Catalyst Cluster: Late-Stage Readouts and Regulatory Milestones
October 2026 brings a dense run of Phase 3 wins (ALOFT-IPF, RESTORE-3), new data presentations (Roche, Bayer, Lilly, Vertex, Galderma) and regulatory steps (FDA acceptance of Roche's vamikibart BLA, Scholar Rock's EMA resubmission). The next big catalyst is the ivonescimab FDA PDUFA date on 2026-11-14. Obesity combination studies (REDEFINE 4, TOGETHER-PsO) and the 2027 Maritime-1 completion point to more catalysts ahead. QAIAx's speculative AI-linked trial claims (the QIII pilot, targeted for 2027) are an unrelated micro-cap sideshow with weak evidence, and have little in common with the large-cap pipeline news.
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Signals we're tracking
EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
Patterns we're watching ›
Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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