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

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 primarily associated with exit fees relating to third-party manufacturers that were contracted for commercial supplies of birtamimab. Employee termination benefits include severance costs, employee-related benefits, and non-cash share-based compensation expense related to the acceleration of the vesting of certain stock options. Charges and other costs related to the restructuring plan are presented as restructuring costs in the Condensed Consolidated Statements of Operations. Substantially all of the cash payments are expected to be paid out by the end of the fourth quarter of 2025. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the restructuring plan.

The following table summarizes the restructuring liability and utilization by cost type associated with the restructuring activities during the three and six months ended June 30, 2025 (in thousands):

                                       Restructuring Liability                                                                                                
                                       Termination Benefits                     Contract Termination Costs                  Other       Total                 
  Balance at March 31, 2025            $                            —           $                               —           $           $             —       
  Restructuring Charges                                             18,342                                      14,097      170                       32,609  
  Adjustment for non-cash charges      ( 2,081)                                 ( 37)                                       ( 161)      ( 2,279)              
  Reduction for cash payments          —                                        —                                           —           —                     
  Foreign Exchange                     —                                        —                                           —           —                     
  Balance at June 30, 2025             $                            16,261      $                               14,060      $           $             30,330  

The total amount expected to be incurred in connection with the restructuring plan is$ 32.6. The restructuring liability is included in current liabilities on the Condensed Consolidated Balance Sheets as of June 30, 2025.

ITEM 2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS