Company: PRTA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001559053-25-000023
Chunk: 6

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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:

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 $ 387.1 440.3

4. Composition of Certain Balance Sheet Items

Prepaid Expenses and Other Current Assets

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

                                                 March 31,                  December 31,              
                                                 2025                       2024                      
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Prepaid R& D expenses                          $              14,464      $                 12,029  
  Prepaid G& A expenses                                          2,758      830                       
  Other                                                          1,016                         1,165  
  Prepaid expenses and other current assets      $              18,238      $                 14,024  

Property and Equipment, net

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

                                                       March 31,                  December 31,              
                                                       2025                       2024                      
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Machinery and equipment                              $               9,007      $                  9,137  
  Purchased computer software                                          2,263                         2,252  
                                                                      11,270                        11,389  
  Less: accumulated depreciation and amortization      ( 8,399)                   ( 8,308)                  
  Property and equipment, net                          $               2,871      $                  3,081  

Depreciation expense was$ 0.2 0.2

Other Current Liabilities

Other current