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Stock Alert: Prothena Down As Mid-stage Study Of Prasinezumab Fails

Shares of Prothena Corporation plc (PRTA) are sinking more than 15% Wednesday morning after the clinical stage neuroscience company announced that Part 1 of the Phase 2 PASADENA study of its drug candidate prasinezumab in patients with early Parkinson's disease, conducted by Roche, did not meet the primary objective. Part 2 of the study is ongoing.

Based on ongoing evaluation of the data, a further update on prasinezumab is expected later this year.

PRTA is currently trading at $10.40. It has traded in the range of $6.71- $17.63 in the last 52 weeks.

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