BioCentury
ARTICLE | Clinical News

Prana falls after PBT2 misses in AD trial

March 31, 2014 11:42 PM UTC

Prana Biotechnology Ltd. (ASX:PBT; NASDAQ:PRAN) fell on NASDAQ on Monday after the company reported that PBT2 missed the primary endpoint of reducing beta amyloid plaque levels at one year vs. placebo in the Phase II IMAGINE trial to treat Alzheimer's disease. Prana fell $7.06 (72%) to $2.80 on the day. Prana said a 12-month, open-label extension of IMAGINE is slated to be completed at the end of the year and that data from the extension are "likely to inform" the next steps for PBT2 to treat AD.

Prana said it still plans to proceed with a Phase III trial with PBT2 to treat Huntington's disease (HD), but the company could not be reached for a time frame for when the trial will start. PBT2 is a metal protein-attenuating compound (MPAC). ...