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Prometheus Biosciences, Inc.

prometheusbiosciences.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed May 9, 2023. Its latest SEC filing is a 15-12G from Jun 27, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Develops antibody drug candidates and genetics-based diagnostic tests for immune-mediated diseases, including inflammatory bowel disease, for patients and treating physicians.

How Did They Make Money?

Pharmaceutical collaborators pay upfront license fees, development, regulatory and commercial milestones, and for research and development services; the company also earns royalties when licensed products are sold.

FY2022 revenue

Who Were Their Customers?

Plans to market its lead therapy and diagnostic test directly through a dedicated sales force to selected specialist physicians in the United States, typically affiliated with hospitals and medical centers. For another drug program, Falk holds exclusive commercialization rights in Europe, Australia and New Zealand.

Did Revenues Turn Into Profits?

No. It lost $141.8M in FY2022.

Operating income, FY2022
−2141% of revenue
▲ +66% (Loss) vs FY2021 (−$87.8M, −2806%)
Net income, FY2022
−2082% of revenue
▲ +57% (Loss) vs FY2021 (−$90.2M, −2883%)
Free cash flow, FY2022
−1850% of revenue
▲ +95% (Loss) vs FY2021 (−$64.6M, −2066%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q3 FY2023, the three months to Mar 31, 2023
Revenue
▼ −72%
vs $3.9M in Q3 FY2022
Net income
▲ +27% (Loss)
vs −$32.1M in Q3 FY2022
  • Jun 16, 2023 Merck completed its acquisition of Prometheus Prometheus became a wholly owned subsidiary of Merck; trading was suspended and delisting was requested.

Who Did They Compete With?

Competes with Takeda, AbbVie, Johnson & Johnson, Pfizer, Bristol-Myers Squibb, Roivant Sciences, Eli Lilly, Abivax, Amgen, Applied Molecular Transport, Arena Pharmaceuticals, AstraZeneca Pharmaceuticals, Gilead Sciences, Gossamer Bio, Landos Biopharma, Morphic Holding, Merck &, Novartis International, and Protagonist Therapeutics

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