Company: PRTA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001559053-25-000023
Chunk: 38

Company: PROTHENA CORP PUBLIC LTD CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 38
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  (Dollars in thousands)                                                                                                    
  Research and development        $                       50,811      $         64,114      $           (13,303)      (21)  
  General and administrative                              17,598                17,464      134                          1  
  Total operating expenses        $                       68,409      $         81,578      $           (13,169)      (16)  

Total operating expenses consist of R& D expenses, general and administrative (“ G& A”) expenses. Our operating expenses were$68.4 million and $81.6 million for the three months ended March 31, 2025, and 2024, respectively.

Our research activities are aimed at developing new drug products. Our development activities involve the translation of our research into potential new drugs. Our R& D expenses primarily consist of personnel costs and related expenses, including share-based compensation and external costs associated with clinical activities and drug development related to our drug programs, including birtamimab, PRX012, PRX019, and preclinical activities related to our discovery programs.

Our G& A expenses primarily consist of personnel costs and related expenses, including share-based compensation and consulting expenses.

Research and Development Expenses

Our R& D expense decreased by $13.3 million for the three months ended March 31, 2025, compared to the same period in the prior year. The decrease for the three months ended March 31, 2025, compared to the same period in the prior year, was primarily due to lower clinical trial expenses primarily related to the PRX012, lower manufacturing expense and lower personnel expenses.

The following table sets forth the R& D expenses for our major programs (specifically, any active program with successful first dosing in a Phase 1 clinical trial and have material expenditures in the periods presented), which were birtamimab, PRX012, PRX019, and other R& D expenses for the three months ended March 31, 2025, and 2024, (in thousands):

                                      Three Months Ended                                    
                                      March 31,                                             
                                      2025                                2024              
 ────────────────────────────────────────────────────────────────────────────────────────────
  Birtamimab (NEOD001)                $                       25,914      $         21,184  
  PRX012