Prothena Cuts 63% of Workforce as Company Restructures Operations Amid Pipeline Milestones
- Prothena Corporation announced a 63% workforce reduction to substantially reduce operating costs while maintaining support for remaining wholly owned programs and partnered collaborations.
- The restructuring comes as multiple pipeline milestones approach, including Roche advancing prasinezumab to Phase 3 for Parkinson's disease and expected PRX012 Alzheimer's data in August 2025.
- The company revised its 2025 financial guidance, expecting net cash burn of $170-178 million and ending the year with approximately $298 million in cash reserves.
- Prothena's board and management are evaluating comprehensive business options while maintaining obligations to partnered programs that could generate up to $105 million in clinical milestones by 2026.