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Prana granted extension study for Alzheimer’s disease drug
August 2013
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NEW YORK—On the heels of news that Prana Biotechnology Ltd. has been granted approval for an extension study of its experimental Alzheimer's disease drug, company shares rose 16.5 percent, or 40 cents, to close at $2.82. The 12-month extension study was approved by a research ethics committee at Austin Hospital in Melbourne, and Prana expects to start treating the first study patients in August. The company is also conducting a 12-month mid-stage trial of PBT2, with the first part of the trial expected to conclude at the end of this year and results to be reported in March 2014. PBT2 is Prana's most advanced drug candidate, with its lead indication as a treatment for Alzheimer's disease. The drug is also being studied as a treatment for Huntington's disease.    

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