Company: PRTA
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001559053-25-000017
Chunk: 61

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 61
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 deplete the pathogenic, non-native forms of the transthyretin (TTR) protein and is being developed by Novo Nordisk as part of their up to $1.2 billion acquisition of our ATTR amyloidosis business and pipeline. In 2024, Phase 1 clinical trial results for coramitug in patients with ATTR amyloidosis was published in Amyloid, the official journal of the International Society of Amyloidosis, and Novo Nordisk continued the ongoing Phase 2 signal-detection clinical trial in patients with ATTR-CM.

• We Carefully Managed our Cash Balance .

◦ During fiscal year 2024, we carefully managed our capital. While progressing all of our development programs described above, our cash used in operating and investing activities was $150.3 million, which was in-line with our guidance range of $148 to $160 million. We finished fiscal year 2024 with $472.2 million in cash, cash equivalents, and restricted cash, including cash used in operating and financing activities, which exceeded our guidance of $468 million, providing a solid financial foundation for continuing to advance the Company’s discovery and clinical programs.

2024 Compensation Highlights. We seek to provide fair and competitive compensation for our executive officers, while emphasizing at-risk pay tied to performance in the form of annual bonuses and long-term equity incentives. We believe that our 2024 executive compensation program reflected this philosophy as highlighted by the following features:

• Modest Base Salary Adjustments. In 2024, our Chief Executive Officer, Dr. Kinney, and each of our other named executive officers other than Dr. Zago, all received 3.5% increases in their base salaries. Dr. Zago received a 4.2% increase in his base salary to align his base compensation with market data for his position.

• Annual Bonuses Reflected 2024 Company Performance. At the beginning of fiscal year 2024, the Committee determined not to change the target bonus opportunities of our named executive officers from their respective levels in 2023. For fiscal year 2024, the Committee and Board established pre-determined corporate objectives that they considered critical to the near- and long-term success of the Company. Following 2024, the Committee and the Board determined that Company performance relative to the corporate objectives was 100%. Based on that corporate performance (weighted at 75% of total bonus opportunity) and the individual performance (weighted at 25% of total bonus opportunity) of each named