Company: PRTA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001559053-25-000023
Chunk: 42

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 42
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 Collaboration Agreement with BMS, we are eligible to receive payments for commercial and regulatory milestones and royalties on net sales of Collaboration Products. See Note 7, “ Significant Agreements” to our Condensed Consolidated Financial Statements regarding the Collaboration Agreement with BMS for more information. Pursuant to the share purchase agreement with Novo Nordisk, we are eligible to receive development and sales milestone payments. See Note 7, “ Significant Agreements” to ourCondensed Consolidated Financial Statements regarding the Novo Nordisk Share Purchase Agreement for more information.

Cash Flows

The following table summarizes the primary sources and uses of cash for each of the periods presented, in our Condensed Consolidated Statements of Cash Flows (in thousands):

                                                                  Three Months Ended                                         
                                                                  March 31,                                                  
                                                                  2025                                  2024                 
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash used in operating activities                           $                       (53,363)      $          (73,051)  
  Net cash used in investing activities                           (42)                                  (103)                
  Net cash provided by (used in) financing activities             (48)                                  836                  
  Net decrease in cash, cash equivalents and restricted cash      $                       (53,453)      $          (72,318)  

Cash Used in Operating Activities

Net cash used in operating activities was$53.4 million for the three months ended March 31, 2025, which was primarily due to ongoing research and development activities and general and administrative expenses to support those activities for a total of$68.4 million in operating expenses (adjusted to exclude non-cash charges of approximately$10.2 million) partially offset by interest income on investments o f$4.3 million.

Cash Used in Investing Activities

Net cash used in investing activities was $42 thousand for the three months ended March 31, 2025, which primarily consisted of expenditures to purchase property and equipment.

Cash Provided by (Used in) Financing Activities

Net cash used in financing activities was$48 thousand f or the three months ended March 31, 2025, which primarily consisted of expenditures related to our at-the-market offering.

Three Months Ended March 31, 2024

Refer to “ Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” in our first quarter 2024 Quarterly Report on Form 10-Q for a discussion of the cash