Prothena Corporation plc CEO Diagnosed With Pancreatic Cancer

December 3, 2014

By Riley McDermid, BioSpace.com Breaking News Editor

The chief executive of Prothena Corp has been diagnosed with pancreatic cancer and will be taking a limited role in the company until his treatment is completed, said President and Chief Executive Officer Dale Schenk this week.

South San Francisco-based Prothena has been in the headlines lately as it starts a late-stage trial with its drug NEOD-001 as a possible treatment for a rare protein-misfolding heart and kidney disease. Schenk has helmed the company since its spinoff from Elan Corp. two years ago.

Schenk said in a letter to colleagues and shareholders that he was “pleased to report that the cancer was detected early and I am doing well” and that he expects to remain “actively involved” in Prothena with the support of the its management team and board of directors. Prothena employs around 50 people.

“I feel very good and optimistic. I believe that my personal background as a scientist is particularly helpful and beneficial in approaching this personal challenge,” wrote Schenk. “I appreciate your support, and want to personally thank all our employees for the amazing work they do every day.”

Prothena is well situated for a minor crisis in the C-level suite: The company has seen solid earnings, and even had a few estimate revised since it reported promising third quarter results last month. Current quarter estimates have been trimmed from a loss of 66 cents a share to a loss of 64 cents a share. Prothena currently has a Zacks Rank #3 , or a hold on the stock, meaning investors should wait on the sidelines and see what happens before buying or selling the company’s shares.