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Prothena Corp. (PRTA) Has Plunged To A New Low After Drug Discontinued

Prothena Corp. (PRTA) said that it is discontinuing development of NEOD001, an investigational antibody that was being evaluated for the treatment of AL amyloidosis. The decision was based on results from the Phase 2b PRONTO study and a futility analysis of the Phase 3 VITAL study.

Prothena gapped open sharply lower Monday morning and has continued to lose ground in early trade. The stock is now down 25.59 at $11.25 on the highest volume of the year. Prothena has plunged to a new low for the year.

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