Biotech firm Prothena announced a workforce reduction affecting 63% of employees following the failure of its amyloidosis drug birtamimab in a Phase 3 trial for Mayo stage IV AL amyloidosis. Despite initial hopes from earlier data, the treatment did not improve mortality, prompting strategic downsizing and refocusing. CEO Gene Kinney expressed gratitude toward impacted staff. The company retains funds to support ongoing pipeline projects and anticipates upcoming data readouts in Alzheimer’s and Parkinson’s disease programs, with collaborative assets partnered with major pharma firms.