Company: PRTA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001559053-25-000044
Chunk: 39

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 39
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                                               4,957                 3,143                              13,844       10,754  
  Total research and development      $                       28,938      $         50,723      $                      120,266      172,347  

(1) R& D costs include the costs incurred from the date when PRX019 was separately tracked in preclinical development.

(2) Other R& D is comprised primarily of preclinical development and discovery programs that have not progressed to first patient dosing in a Phase 1 clinical trial, close out costs for programs that we are no longer advancing, and immaterial costs incurred on ongoing partnered programs.

General and Administrative Expenses

Our G& A expens es decreased by$3.5 million or21% for the three months ended September 30, 2025 and decreased by$3.6 million or7% for the nine months ended September 30, 2025, c ompared to the same periods in the prior year primarily due to lower personnel expense.

Restructuring Costs

In June 2025, we commenced a restructuring plan following our decision in May 2025 to discontinue further development of birtamimab. We have incurred aggregate restructuring charges of approximately $0.5 million and $33.1 million for the three and nine months ended September 30, 2025.

Restructuring charges incurred under this plan primarily consist of employee termination benefits in connection with the reduction in force announced in June 2025 and contract termination costs. Employee termination benefits include severance costs, employee-related benefits, and noncash share-based compensation expense related to the acceleration of the vesting of certain stock options. Substantially all of the cash payments are expected to be paid out by the end of the fourth quarter of 2025. We 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. See Note 11, “ Restructuring” to the Condensed Consolidated Financial Statements for more information.

Other Income (Expense)

                               Three Months Ended                                      Change                         
                               September 30,                                                                          
                               2025                               2024                 $                           %  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  (Dollars in thousands)                                                                                              
  Interest income              $                       3,351      $         6,743      $           (3,392)      (50