Company: PRTA
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001559053-25-000031
Chunk: 6

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:

Level 1 - inputs are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 - inputs are other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

Level 3 - inputs are unobservable inputs that are supported by little or no market activities, which would require the Company to develop its own assumptions.

The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The carrying amounts reflected in the Condensed Consolidated Balance Sheets for cash equivalents, prepaid expenses and other current assets, accounts payable and accrued liabilities, approximate their fair value due to their short-term nature.

Based on the fair value hierarchy, the Company classifies its cash equivalents within Level 1. This is because the Company values its cash equivalents using quoted market prices. The Company’s Level 1 securities consisted of $ 349.5 440.3

4. Composition of Certain Balance Sheet Items

Prepaid Expenses and Other Current Assets

Prepaid and other current assets consisted of the following (in thousands):

                                                 June 30,                  December 31,              
                                                 2025                      2024                      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────
  Prepaid R& D expenses                          $              8,792      $                 12,029  
  Prepaid G& A expenses                                         2,092      830                       
  Other                                                         3,156                         1,165  
  Prepaid expenses and other current assets      $             14,040      $                 14,024  

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):

                                                       June 30,                  December 31,              
                                                       2025                      2024                      
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Machinery and equipment                              $              7,785      $                  9,137  
  Purchased computer software                                         2,307