Prothena stock price rises on $100 million share repurchase authorization

LootboxPhobia · 2026-02-27T23:49:10+00:00

Prothena Corporation (NASDAQ:PRTA) announced a share repurchase program of up to $100 million, with the stock price rising 4.7% in after-hours trading. The company holds $308.4 million in cash and has no debt, and is expected to hold approximately $255 million in cash by the end of 2025. The repurchase program may be affected by market conditions and is expected to expire on December 31, 2026.

LootboxPhobia

2026-02-27 23:49:10

Abstract generation in progress

Investing.com – Prothena Corporation (NASDAQ:PRTA) stock rose 4.7% in after-hours trading on Friday after the biotech company announced a share repurchase program authorizing up to $100 million of common stock repurchases.

The company may repurchase shares from time to time in open market transactions, which may be structured in accordance with Rule 10b-18 of the Securities Exchange Act of 1934. Prothena may also enter into a Rule 10b5-1 plan to facilitate repurchases.

As of December 31, 2025, Prothena reported $308.4 million in cash, cash equivalents, and restricted cash, with no debt. The company expects to hold approximately $255 million in cash, cash equivalents, and restricted cash at year-end, excluding any potential purchases under the share repurchase plan.

The timing, number of shares, and purchase price will depend on business and market conditions, the current stock price, and other considerations. The share repurchase program will expire on December 31, 2026, and may be suspended or terminated at any time without any obligation to purchase any specific number of shares.

Prothena’s financial guidance does not include the potential benefit of up to $105 million in clinical milestone payments from strategic partners in 2026. These payments are related to Novo Nordisk’s advancement of coramitug for treating ATTR amyloidosis with cardiomyopathy, and Bristol Myers Squibb’s advancement of PRX019 for neurodegenerative diseases.

This article was translated with the assistance of artificial intelligence. For more information, please see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.