2023 Q2 Form 10-Q Financial Statement

#000155905323000016 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $4.019M $2.169M
YoY Change 206.33% 88.12%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.51M $13.74M
YoY Change 12.04% 16.08%
% of Gross Profit
Research & Development $56.01M $44.76M
YoY Change 77.42% 64.17%
% of Gross Profit
Depreciation & Amortization $200.0K $201.0K
YoY Change 0.0% 10.44%
% of Gross Profit
Operating Expenses $70.52M $58.49M
YoY Change 58.4% 49.61%
Operating Profit -$66.50M -$56.33M
YoY Change 53.91% 48.44%
Interest Expense $7.700M $6.690M
YoY Change 1105.01% 12522.64%
% of Operating Profit
Other Income/Expense, Net $7.603M $6.549M
YoY Change 1093.56% -38623.53%
Pretax Income -$58.90M -$49.78M
YoY Change 38.36% 31.12%
Income Tax -$4.300M -$2.900M
% Of Pretax Income
Net Earnings -$54.60M -$46.86M
YoY Change 32.37% 29.14%
Net Earnings / Revenue -1358.42% -2160.63%
Basic Earnings Per Share -$1.03 -$0.89
Diluted Earnings Per Share -$1.03 -$0.89
COMMON SHARES
Basic Shares Outstanding 52.75M shares 52.56M shares
Diluted Shares Outstanding 53.12M shares 52.50M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $659.1M $686.2M
YoY Change 29.54% 26.37%
Cash & Equivalents $659.1M $686.2M
Short-Term Investments
Other Short-Term Assets $17.47M $14.16M
YoY Change 39.76% 12.14%
Inventory
Prepaid Expenses
Receivables $524.0K
Other Receivables $0.00
Total Short-Term Assets $677.1M $700.3M
YoY Change 29.89% 26.05%
LONG-TERM ASSETS
Property, Plant & Equipment $2.170M $1.924M
YoY Change 16.6% 3.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.27M $10.96M
YoY Change 197.75% 372.4%
Total Long-Term Assets $43.55M $41.24M
YoY Change 53.9% 59.91%
TOTAL ASSETS
Total Short-Term Assets $677.1M $700.3M
Total Long-Term Assets $43.55M $41.24M
Total Assets $720.6M $741.6M
YoY Change 31.13% 27.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.85M $12.52M
YoY Change 83.43% 34.42%
Accrued Expenses $30.65M $24.68M
YoY Change 43.25% 47.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $71.57M $48.88M
YoY Change 78.44% 33.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $67.41M $85.29M
YoY Change -34.04% -19.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.57M $48.88M
Total Long-Term Liabilities $67.41M $85.29M
Total Liabilities $139.0M $134.2M
YoY Change -2.33% -5.86%
SHAREHOLDERS EQUITY
Retained Earnings -$934.5M -$879.9M
YoY Change 17.75% 16.96%
Common Stock $535.0K $527.0K
YoY Change 14.32% 12.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $581.7M $607.4M
YoY Change
Total Liabilities & Shareholders Equity $720.6M $741.6M
YoY Change 31.13% 27.55%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$54.60M -$46.86M
YoY Change 32.37% 29.14%
Depreciation, Depletion And Amortization $200.0K $201.0K
YoY Change 0.0% 10.44%
Cash From Operating Activities -$44.93M -$47.46M
YoY Change 27.41% 26.84%
INVESTING ACTIVITIES
Capital Expenditures $771.0K $48.00K
YoY Change -578.88% -318.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$771.0K -$48.00K
YoY Change 378.88% 118.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.63M $23.28M
YoY Change 1420.41% 1641.51%
NET CHANGE
Cash From Operating Activities -44.93M -$47.46M
Cash From Investing Activities -771.0K -$48.00K
Cash From Financing Activities 18.63M $23.28M
Net Change In Cash -27.07M -$24.22M
YoY Change -20.84% -32.9%
FREE CASH FLOW
Cash From Operating Activities -$44.93M -$47.46M
Capital Expenditures $771.0K $48.00K
Free Cash Flow -$45.70M -$47.51M
YoY Change 30.19% 27.05%

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
438887000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-879900000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
686200000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make judgments, estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures. On an ongoing basis, management evaluates its estimates, including critical accounting policies or estimates related to revenue recognition, share-based compensation, research and development expenses and leases. The Company bases its estimates on historical experience and on various other market specific and other relevant assumptions that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Because of the uncertainties inherent in such estimates, actual results may differ materially from these estimates.</span></div>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risks and Other Risks and Uncertainties</span></div><div style="margin-top:10pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents. The Company places its cash equivalents with multiple major and reputable financial institutions. To minimize our risk the Company and its subsidiaries invest pursuant to a Board approved investment policy, which specifies credit quality standards for our investments and limits the amount of credit exposure to any single issue, issuer or type of investment. The majority of cash and cash equivalents are invested in liquid money market funds. Cash deposits held with banks may exceed the amount of insurance provided on such deposits. To date, the Company has not experienced any losses on its deposits of cash and cash equivalents.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s business is primarily conducted in U.S. dollars except for its agreements with contract manufacturers for drug supplies which are denominated in Euros. The Company recorde</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d a loss on</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> foreign currency exchange rate differences of approxim</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ately $141,000 and $70,000 during the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">three months ended March 31, 2023</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and 2022, respectively. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> If the Company increases its business activities that require the use of foreign currencies, it may be exposed to losses if the Euro and other such currencies continue to strengthen against the U.S. dollar.</span></div><div style="margin-top:10pt;text-align:justify;text-indent:24.75pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">March 31, 2023</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and December 31, 2022, approximately </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.9 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.7 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, respectively, of the Company’s property and equipment, net were held in the U.S. and nominal amount were in Ireland.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to a number of risks similar to other late-stage clinical biotechnology companies, including, but not limited to, the need to obtain adequate additional funding, possible failure of current or future preclinical testing or clinical trials, its reliance on third parties to conduct its clinical trials, the need to obtain regulatory and marketing approvals for its drug candidates, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of the Company’s drug candidates, its right to develop and commercialize its drug candidates pursuant to the terms and conditions of the licenses granted to the Company, protection of proprietary technology, and the need to secure and maintain adequate clinical trial management, manufacturing, packaging, labeling, storage, testing, and distribution arrangements with third parties. The Company also relies on third party consultants to assist in managing these third parties and assist with its clinical trial operations and manufacturing. If the Company does not successfully commercialize or partner any of its drug candidates, it will be unable to generate product revenue or achieve profitability. Further, the Company is also subject to broad market risks and uncertainties resulting from recent events, such as the COVID-19 pandemic, the Russian invasion of Ukraine, inflation, rising interest rates, and recession risks, as well as supply chain and labor shortages.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Segments</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company operates in one segment. The Company’s chief operating decision maker (the “CODM”), its Chief Executive Officer, manages the Company’s operations on a consolidated basis for purposes of allocating resources. When evaluating the Company’s financial performance, the CODM reviews all financial information on a consolidated basis.</span></div>
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
141000 usd
CY2022Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax
70000 usd
CY2023Q1 prta Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
6828000 usd
CY2022Q4 prta Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
5325000 usd
CY2023Q1 prta Prepaid General And Administrative Expense
PrepaidGeneralAndAdministrativeExpense
4061000 usd
CY2022Q4 prta Prepaid General And Administrative Expense
PrepaidGeneralAndAdministrativeExpense
1597000 usd
CY2023Q1 prta Receivable From Stock Option Exercises In Transit
ReceivableFromStockOptionExercisesInTransit
0 usd
CY2022Q4 prta Receivable From Stock Option Exercises In Transit
ReceivableFromStockOptionExercisesInTransit
62000 usd
CY2023Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
3270000 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1708000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
14159000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8692000 usd
CY2023Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
10179000 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
9901000 usd
CY2023Q1 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1498000 usd
CY2022Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
1498000 usd
CY2023Q1 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1615000 usd
CY2022Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
1500000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13292000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
12899000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11368000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11168000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1924000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1731000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
200000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
200000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5638000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11060000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
534000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
605000 usd
CY2023Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
1825000 usd
CY2022Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
503000 usd
CY2023Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
7997000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
12168000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-46864000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-36290000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52501000 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46704000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52501000 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46704000 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.89
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.78
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.89
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.78
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10494000 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10319000 shares
CY2016Q1 prta Operating Lease Area
OperatingLeaseArea
128751 sqft
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M
CY2016Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-12-31
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1600000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1600000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0425
CY2018Q3 prta Operating Leases Sublease Rentals Areaof Sublease Rental
OperatingLeasesSubleaseRentalsAreaofSubleaseRental
46641 sqft
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
700000 usd
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
700000 usd
CY2018Q3 prta Subleaserentals Annual Base Rent Initial Amount
SubleaserentalsAnnualBaseRentInitialAmount
2700000 usd
CY2018Q3 prta Operating Leases Sublease Rentals Percent Annual Rent Increase
OperatingLeasesSubleaseRentalsPercentAnnualRentIncrease
0.035
CY2018Q3 prta Operating Leases Sublease Rentals Termof Contract
OperatingLeasesSubleaseRentalsTermofContract
P5Y2M12D
CY2018Q3 prta Operating Leases Sublease Rentals Percentof Rental Gain Attributableto Sublandlord
OperatingLeasesSubleaseRentalsPercentofRentalGainAttributabletoSublandlord
0.50
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4972000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
2239000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2707000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3051000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3158000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3269000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
0 usd
CY2023Q1 prta Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
2523000 usd
CY2023Q1 prta Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
0 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19680000 usd
CY2023Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
2239000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
87000 usd
CY2023Q1 prta Lessee Operating Lease Liability Lease Not Yet Commenced
LesseeOperatingLeaseLiabilityLeaseNotYetCommenced
14708000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4885000 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
15700000 usd
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
400000 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
15746000 usd
CY2023Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
15661000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
85000 usd
CY2023Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
0 usd
CY2023Q1 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
0 usd
CY2023Q1 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
0 usd
CY2023Q1 prta Purchase Obligation To Be Paid After Year Four
PurchaseObligationToBePaidAfterYearFour
0 usd
CY2023Q1 prta Purchaseand Contractual Obligation Total
PurchaseandContractualObligationTotal
16148000 usd
CY2023Q1 prta Purchaseand Contractual Obligation Remainderof Fiscal Year
PurchaseandContractualObligationRemainderofFiscalYear
15725000 usd
CY2023Q1 prta Purchase And Contractual Obligation Due In Year One
PurchaseAndContractualObligationDueInYearOne
149000 usd
CY2023Q1 prta Purchaseand Contractual Obligation Duein Second Year
PurchaseandContractualObligationDueinSecondYear
64000 usd
CY2023Q1 prta Purchaseand Contractual Obligation Duein Third Year
PurchaseandContractualObligationDueinThirdYear
60000 usd
CY2023Q1 prta Purchaseand Contractual Obligation Duein Fourth Year
PurchaseandContractualObligationDueinFourthYear
60000 usd
CY2023Q1 prta Purchase And Contractual Obligation Due After Fourth Year
PurchaseAndContractualObligationDueAfterFourthYear
90000 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52678178 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
52678178 shares
CY2023Q1 prta Numberof Votes
NumberofVotes
1 vote
CY2023Q1 prta Deferred Shares Shares Authorized
DeferredSharesSharesAuthorized
10000 shares
CY2023Q1 prta Deferred Shares Par Value
DeferredSharesParValue
22
CY2023Q1 prta Deferred Shares Share Outstanding
DeferredSharesShareOutstanding
0 shares
CY2023Q1 prta Common Stock Cumulative Number Of Shares Issued
CommonStockCumulativeNumberOfSharesIssued
911228 shares
CY2023Q1 prta Proceeds From Issuance Of Common Stock Cumulative Gross Amount
ProceedsFromIssuanceOfCommonStockCumulativeGrossAmount
53100000 usd
CY2023Q1 prta Stock Issuance Costs Cumulative Amount
StockIssuanceCostsCumulativeAmount
1700000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1241171 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1741936 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1948849 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10470768 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.78
CY2023Q1 prta Share Based Payment Arrangement Estimated Forfeiture Rate
ShareBasedPaymentArrangementEstimatedForfeitureRate
0.08
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8790000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7660000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1600000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1400000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.816
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.821
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.043
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.019
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y10M9D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
35.37
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.14
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9479998 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.16
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y9M25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
354856000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1241171 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
53.13
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
179474 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
14.15
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
70927 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
35.98
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
0 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10470768 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.78
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
240912000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
10001226 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
26.10
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y11M1D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
236036000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
6155015 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
19.68
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M19D
CY2023Q1 prta Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value Related To Vested Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValueRelatedToVestedOptions
179910000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2900000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1700000 usd

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prta-20230331_lab.xml Edgar Link unprocessable
prta-20230331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
prta-20230331_cal.xml Edgar Link unprocessable
prta-20230331_htm.xml Edgar Link completed
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0001559053-23-000016.txt Edgar Link pending
0001559053-23-000016-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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prta-20230331.htm Edgar Link pending
prta-20230331.xsd Edgar Link pending
prta2023q110-qxex311.htm Edgar Link pending
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