Investor Relations (IR) Questions: Prothena Corporation $PRTA
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Answers received: May 2013
1. When was the last time the company raised money (diluted) through a stock offering?
· We were 100% spun-out of Elan in December 2012 and trade on the Nasdaq Global Markets exchange (ticker = PRTA). Elan funded Prothena in aggregate with $125 million in cash. The $125mm funding consisted of two tranches: 1) $99mm in cash pre-spin out and 2) $26mm in cash in exchange for an 18% ownership stake (or 3.2mm shares) in Prothena. We currently have 17.7mm shares outstanding as of April 30, 2013.
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2. How much cash (not cash equivalents) does the company have?
As of March 31, 2013 we have $120mm in cash and cash equivalents
3. What and approximately when is the company's next know catalyst?
Prothena's research and development pipeline includes three lead therapeutic antibody programs that the Company plans to advance aggressively in 2013 and several discovery programs staged for future value.
NEOD001 is a monoclonal antibody targeting AL and AA amyloid for the potential treatment of amyloidosis.
· On April 23, the Company announced that it had successfully dosed the first patient in a Phase 1 clinical trial; the multi-center Phase 1 clinical trial is designed to evaluate the safety and tolerability of NEOD001 in patients with AL amyloidosis and to determine a recommended dose for testing in Phase 2 trials
PRX002 is a monoclonal antibody targeting synuclein for the potential treatment of Parkinson's disease
· IND enabling studies and pre-clinical safety testing planned for 2013
· IND filing and Phase 1 trial in Parkinson's disease patients planned for 2014
PRX003 is a monoclonal antibody targeting melanoma cell adhesion molecule (MCAM) for the potential treatment of inflammatory disease and metastatic cancers
· Lead candidate selected
· IND filing and Phase 1 trial planned for 2015
·4. What is the company's quarterly burn rate?
As previously announced, the Company expects a cash burn of $34 to $40 million for 2013, ending the year with approximately $88 million in cash. The 2013 cash burn is primarily driven by an estimated net loss of $36 to $42 million, which includes an estimated $2.5 million of depreciation and share-based compensation expense. The Company intends to use the anticipated 2013 spend to progress patient enrollment and dosing at multiple sites for its NEOD001 Phase 1 clinical trial, complete IND enabling toxicology studies for PRX002, select a first indication for PRX003 and further advance its discovery programs.
5. Does the company have an existing line of credit and if so how much can they draw on it?
· Prothena does not have an existing line of credit.
Tran Nguyen
Chief Financial Officer
Prothena Corporation plc
1. When was the last time the company raised money (diluted) through a stock offering?
· We were 100% spun-out of Elan in December 2012 and trade on the Nasdaq Global Markets exchange (ticker = PRTA). Elan funded Prothena in aggregate with $125 million in cash. The $125mm funding consisted of two tranches: 1) $99mm in cash pre-spin out and 2) $26mm in cash in exchange for an 18% ownership stake (or 3.2mm shares) in Prothena. We currently have 17.7mm shares outstanding as of April 30, 2013.
·
2. How much cash (not cash equivalents) does the company have?
As of March 31, 2013 we have $120mm in cash and cash equivalents
3. What and approximately when is the company's next know catalyst?
Prothena's research and development pipeline includes three lead therapeutic antibody programs that the Company plans to advance aggressively in 2013 and several discovery programs staged for future value.
NEOD001 is a monoclonal antibody targeting AL and AA amyloid for the potential treatment of amyloidosis.
· On April 23, the Company announced that it had successfully dosed the first patient in a Phase 1 clinical trial; the multi-center Phase 1 clinical trial is designed to evaluate the safety and tolerability of NEOD001 in patients with AL amyloidosis and to determine a recommended dose for testing in Phase 2 trials
PRX002 is a monoclonal antibody targeting synuclein for the potential treatment of Parkinson's disease
· IND enabling studies and pre-clinical safety testing planned for 2013
· IND filing and Phase 1 trial in Parkinson's disease patients planned for 2014
PRX003 is a monoclonal antibody targeting melanoma cell adhesion molecule (MCAM) for the potential treatment of inflammatory disease and metastatic cancers
· Lead candidate selected
· IND filing and Phase 1 trial planned for 2015
·4. What is the company's quarterly burn rate?
As previously announced, the Company expects a cash burn of $34 to $40 million for 2013, ending the year with approximately $88 million in cash. The 2013 cash burn is primarily driven by an estimated net loss of $36 to $42 million, which includes an estimated $2.5 million of depreciation and share-based compensation expense. The Company intends to use the anticipated 2013 spend to progress patient enrollment and dosing at multiple sites for its NEOD001 Phase 1 clinical trial, complete IND enabling toxicology studies for PRX002, select a first indication for PRX003 and further advance its discovery programs.
5. Does the company have an existing line of credit and if so how much can they draw on it?
· Prothena does not have an existing line of credit.
Tran Nguyen
Chief Financial Officer
Prothena Corporation plc