Prothena Corporation plc
PRTAHealthcare|Biotechnology|IE
$7.97
+0.08 (+1.01%)
DCF Value
$3.58
Tangible Book / Share
$5.23
Cash / Share
$5.28
Financials
Financial Snapshot
Market Cap
$409.2M
Enterprise Value
$144.0M
Revenue (TTM)
$52.7M
Net Income (TTM)
-$24.0M
Cash & Investments
$271.4M
Net Cash
$265.1M
Free Cash Flow (TTM)
-$32.2M
Operating CF (TTM)
-$31.4M
Debt/Equity
0.02
Cash Runway & Burn Rate
Cash on Hand
$271.4M
Quarterly Burn
$7.9M
Monthly Burn
$2.6M
Est. Runway
~34.5 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $386.9M | $417.6M | $427.7M | $375.7M | $295.4M | $579.1M | $710.4M | $618.8M | $471.4M | $307.5M | $271.4M | |
| Operating Cash Flow | -$117.3M | -$131.2M | -$28.3M | -$53.0M | -$80.4M | $92.6M | -$108.8M | -$133.9M | -$150.1M | -$163.6M | -$31.4M | |
| Free Cash Flow | -$133.9M | -$134.8M | -$30.0M | -$53.5M | -$80.6M | $92.0M | -$109.3M | -$136.7M | -$150.3M | -$163.7M | -$32.2M | |
| Capital Expenditure | -$16.6M | -$3.6M | -$1.8M | -$555.0K | -$196.0K | -$575.0K | -$464.0K | -$2.8M | -$298.0K | -$138.0K | -$725.0K | |
| Financing Cash Flow | $154.3M | $165.4M | $40.0M | $228.0K | $215.0K | $190.3M | $241.5M | $45.1M | $1.6M | -$139.0K | -$27.3M |
R&D Spending
R&D (TTM)
$44.4M
R&D Intensity
84.3%
R&D Growth vs Prior
-67.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $27.5M | $955.0K | $814.0K | $853.0K | $200.6M | $53.9M | $91.4M | $135.2M | $9.7M | $52.7M | |
| R&D Expense | $119.5M | $134.5M | $101.2M | $50.8M | $75.1M | $82.3M | $135.6M | $220.6M | $222.5M | $134.9M | $44.4M | |
| R&D % of Revenue | 11330.2% | 488.9% | 10595.1% | 6245.2% | 8803.4% | 41.0% | 251.5% | 241.4% | 164.6% | 1392.5% | 84.3% | |
| SG&A | $41.1M | $48.2M | $42.5M | $35.7M | $38.7M | $46.3M | $49.9M | $61.8M | $67.2M | $59.4M | $46.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M | $27.5M | $955.0K | $814.0K | $853.0K | $200.6M | $53.9M | $91.4M | $135.2M | $9.7M | $52.7M | |
| Cost of Revenue | $119.5M | $134.5M | $101.2M | $50.8M | $74.9M | $0.00 | $0.00 | $0.00 | $0.00 | $3.7M | $1.9M | |
| Gross Profit | -$118.5M | -$107.0M | -$100.2M | -$50.0M | -$74.0M | $200.6M | $53.9M | $91.4M | $135.2M | $6.0M | $50.3M | |
| R&D | $119.5M | $134.5M | $101.2M | $50.8M | $75.1M | $82.3M | $135.6M | $220.6M | $222.5M | $134.9M | $44.4M | |
| SG&A | $41.1M | $48.2M | $42.5M | $35.7M | $38.7M | $46.3M | $49.9M | $61.8M | $67.2M | $59.4M | $46.8M | |
| Operating Income | -$159.5M | -$155.3M | -$158.9M | -$85.7M | -$112.7M | $72.0M | -$131.6M | -$191.0M | -$154.6M | -$184.6M | -$41.3M | |
| Interest Expense | $863.0K | $3.7M | $3.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$159.0M | -$157.6M | -$156.1M | -$77.3M | -$110.9M | $71.9M | -$125.6M | -$160.5M | -$128.9M | -$200.8M | -$23.9M | |
| Net Income | -$160.1M | -$153.2M | -$155.6M | -$77.7M | -$111.1M | $67.0M | -$116.9M | -$147.0M | -$122.3M | -$244.1M | -$24.0M | |
| EPS (Diluted) | -4.66 | -4.07 | -3.93 | -1.95 | -2.78 | 1.38 | -2.47 | -2.76 | -2.27 | -4.53 | -0.48 | |
| EBITDA | -$156.5M | -$152.2M | -$152.9M | -$78.9M | -$111.2M | $73.0M | -$124.9M | -$159.6M | -$128.0M | -$199.9M | -$25.7M | |
| Shares Out. (M) | 34.35 | 37.65 | 39.56 | 39.88 | 39.91 | 48.46 | 47.37 | 53.22 | 53.77 | 53.83 | 51.44 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $386.9M | $417.6M | $427.7M | $375.7M | $295.4M | $579.1M | $710.4M | $618.8M | $471.4M | $307.5M | $271.4M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $391.4M | $426.3M | $431.4M | $378.4M | $299.3M | $584.8M | $719.1M | $639.3M | $485.4M | $315.2M | $273.9M | |
| Total Assets | $460.0M | $496.3M | $498.8M | $419.3M | $333.0M | $609.4M | $758.0M | $696.4M | $547.1M | $326.8M | $283.5M | |
| Total Current Liabilities | $41.1M | $37.4M | $14.9M | $17.7M | $25.8M | $33.5M | $50.1M | $56.9M | $48.5M | $40.8M | $11.4M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.5M | $3.2M | |
| Total Liabilities | $94.6M | $89.1M | $175.8M | $146.3M | $149.0M | $143.3M | $136.0M | $135.0M | $60.2M | $46.3M | $14.7M | |
| Stockholders' Equity | $365.4M | $407.2M | $323.0M | $272.9M | $184.0M | $466.0M | $622.0M | $561.4M | $486.9M | $280.5M | $268.8M | |
| Retained Earnings | -$289.2M | -$442.4M | -$598.0M | -$671.9M | -$783.0M | -$716.1M | -$833.0M | -$980.0M | -$1.10B | -$1.35B | -$1.35B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$117.3M | -$131.2M | -$28.3M | -$53.0M | -$80.4M | $92.6M | -$108.8M | -$133.9M | -$150.1M | -$163.6M | -$31.4M | |
| Capital Expenditure | -$16.6M | -$3.6M | -$1.8M | -$555.0K | -$196.0K | -$575.0K | -$464.0K | -$2.8M | -$298.0K | -$138.0K | -$725.0K | |
| Free Cash Flow | -$133.9M | -$134.8M | -$30.0M | -$53.5M | -$80.6M | $92.0M | -$109.3M | -$136.7M | -$150.3M | -$163.7M | -$32.2M | |
| Investing Cash Flow | -$16.6M | -$3.5M | -$1.7M | -$547.0K | -$196.0K | -$575.0K | -$464.0K | -$2.8M | -$298.0K | -$138.0K | -$725.0K | |
| Financing Cash Flow | $154.3M | $165.4M | $40.0M | $228.0K | $215.0K | $190.3M | $241.5M | $45.1M | $1.6M | -$139.0K | -$27.3M | |
| Issuance of Stock | $128.8M | $150.3M | $39.8M | $0.00 | $0.00 | $174.8M | $223.6M | $23.6M | $0.00 | -$139.0K | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$353.0K | $0.00 | $0.00 | |
| Net Debt Issuance | -$169.0K | -$2.8M | -$4.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $24.9M | $26.8M | $27.0M | $23.6M | $22.0M | $24.7M | $31.3M | $40.9M | $46.0M | $37.6M | $28.3M | |
| Net Change in Cash | $20.4M | $30.7M | $10.0M | -$53.3M | -$80.3M | $282.4M | $132.2M | -$91.6M | -$148.8M | -$163.9M | -$59.5M |
Dilution Tracker
Shares outstanding grew 34.9% over 5 years — significant dilution
Shares Outstanding
51M
5-Year Share Growth
+34.9%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 34.35 | 37.65 | 39.56 | 39.88 | 39.91 | 48.46 | 47.37 | 53.22 | 53.77 | 53.83 | 51.44 | |
| Change vs Prior % | — | 9.6% | 5.1% | 0.8% | 0.1% | 21.4% | -2.3% | 12.3% | 1.0% | 0.1% | -4.4% | |
| Stock Issuance | $128.8M | $150.3M | $39.8M | $0.00 | $0.00 | $174.8M | $223.6M | $23.6M | $0.00 | -$139.0K | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$353.0K | $0.00 | $0.00 | |
| Stock Based Comp. | $24.9M | $26.8M | $27.0M | $23.6M | $22.0M | $24.7M | $31.3M | $40.9M | $46.0M | $37.6M | $28.3M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -11230.2% | -388.9% | -10495.1% | -6145.2% | -8678.9% | 100.0% | 100.0% | 100.0% | 100.0% | 61.8% | 95.3% | |
| Operating Margin % | -15121.8% | -564.2% | -16634.0% | -10527.9% | -13216.2% | 35.9% | -244.1% | -209.1% | -114.4% | -1905.8% | -78.4% | |
| Net Margin % | -15176.1% | -556.8% | -16297.9% | -9542.6% | -13029.8% | 33.4% | -217.0% | -160.9% | -90.5% | -2520.6% | -45.4% | |
| EBITDA Margin % | -14837.6% | -553.0% | -16010.4% | -9697.5% | -13038.7% | 36.4% | -231.6% | -174.6% | -94.7% | -2064.6% | -48.7% | |
| FCF Margin % | -12693.2% | -489.9% | -3146.0% | -6575.4% | -9444.1% | 45.9% | -202.7% | -149.6% | -111.2% | -1690.6% | -61.0% | |
| ROE % | -43.8% | -37.6% | -48.2% | -28.5% | -60.4% | 14.4% | -18.8% | -26.2% | -25.1% | -87.0% | -8.3% | |
| ROA % | -34.8% | -30.9% | -31.2% | -18.5% | -33.4% | 11.0% | -15.4% | -21.1% | -22.4% | -74.7% | -8.5% | |
| ROIC % | -38.1% | -32.8% | -32.6% | -21.1% | -36.1% | 11.5% | -17.1% | -27.3% | -29.3% | -63.9% | -15.0% | |
| R&D / Revenue % | 11330.2% | 488.9% | 10595.1% | 6245.2% | 8803.4% | 41.0% | 251.5% | 241.4% | 164.6% | 1392.5% | 84.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | -34.3% | 2508.4% | -96.5% | -14.8% | 4.8% | 23414.3% | -73.1% | 69.5% | 47.9% | -92.8% | |
| Gross Profit | -108.5% | 9.7% | 6.4% | 50.1% | -48.0% | 370.9% | -73.1% | 69.5% | 47.9% | -95.6% | |
| Operating Income | -99.6% | 2.7% | -2.3% | 46.1% | -31.5% | 163.8% | -282.8% | -45.2% | 19.1% | -19.4% | |
| Net Income | -98.6% | 4.3% | -1.6% | 50.1% | -43.1% | 160.3% | -274.6% | -25.7% | 16.8% | -99.6% | |
| EPS (Diluted) | -75.2% | 12.7% | 3.4% | 50.4% | -42.6% | 149.6% | -279.0% | -11.7% | 17.8% | -99.6% | |
| Operating Cash Flow | -87.8% | -11.9% | 78.4% | -87.3% | -51.7% | 215.2% | -217.5% | -23.1% | -12.1% | -9.0% | |
| Free Cash Flow | -109.8% | -0.7% | 77.7% | -78.2% | -50.5% | 214.2% | -218.7% | -25.1% | -10.0% | -8.9% | |
| R&D Expense | 104.5% | 12.6% | -24.8% | -49.8% | 47.7% | 9.6% | 64.7% | 62.7% | 0.9% | -39.4% | |
| SG&A Expense | 77.7% | 17.5% | -11.9% | -15.9% | 8.3% | 19.7% | 7.7% | 23.9% | 8.7% | -11.6% | |
| Total Assets | 19.4% | 7.9% | 0.5% | -15.9% | -20.6% | 83.0% | 24.4% | -8.1% | -21.4% | -40.3% | |
| Book Value / Share | -10.6% | 1.7% | -24.5% | -16.2% | -32.6% | 128.6% | 24.6% | -19.7% | -14.2% | -42.5% | |
| Debt | 0.0% | 1.8% | -1.3% | -55.5% | -22.2% | -30.9% | -47.5% | 82.8% | -8.4% | 27.8% | |
| Diluted Shares | 13.3% | 9.6% | 5.1% | 0.8% | 0.1% | 21.4% | -2.3% | 12.3% | 1.0% | 0.1% |
Valuation
P/E (TTM)At Loss
P/S7.76
10Y Low / Med / High5.51 / 53.08 / 1601.64
P/B1.52
10Y Low / Med / High1.26 / 3.44 / 4.69
EV/EBITDAAt Loss
EV/Revenue2.73
10Y Low / Med / High2.10 / 38.02 / 1283.53
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$3.58
Tangible Book / Share
$5.23
Net Current Assets / Share
$5.05
Graham Net-Net
$4.99
Cash / Share
$5.28
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -10.56 | -9.21 | -2.62 | -8.12 | -4.32 | 32.72 | -24.39 | -13.17 | -6.10 | -2.11 | -16.96 | |
| P/S Ratio | 1601.64 | 51.30 | 426.66 | 775.59 | 561.99 | 10.89 | 52.94 | 21.17 | 5.51 | 53.08 | 7.76 | |
| P/B Ratio | 4.62 | 3.47 | 1.26 | 2.31 | 2.61 | 4.69 | 4.59 | 3.44 | 1.53 | 1.83 | 1.52 | |
| EV/EBITDA | -8.65 | -6.87 | -0.21 | -3.53 | -1.81 | 22.15 | -17.22 | -8.32 | -2.22 | -1.10 | -5.61 | |
| EV/Revenue | 1283.53 | 38.02 | 32.82 | 342.20 | 236.62 | 8.07 | 39.89 | 14.52 | 2.10 | 22.76 | 2.73 |
Analyst Estimates & Quality
Altman Z-Score
11.05
Safe
Piotroski F-Score
4
Moderate
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $82.7M | $24.5M | $101.1M |
| Net Income | $1.3M | -$49.9M | -$92.7M |
| EPS | $0.12 | $-1.02 | $-0.28 |
| # Analysts (EPS) | 4 | 4 | 5 |
Revenue Segments
By Product
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Collaboration | $564.0K | $139.8M | $13.9M | $91.3M | $135.1M | $9.6M |
| License | $289.0K | — | — | $50.0K | $50.0K | $50.0K |
| Collaboration Program, US Rights | — | $24.9M | $13.9M | — | — | — |
| US Rights and Global Rights | — | — | $85.3M | — | — | — |