Prothena down 16% as Parkinson’s drug flops in mid-stage stud

Thinly traded micro cap Prothena (PRTA -16.3%) slumps out the gate this morning on the heels of an update from licensee Roche (OTCQX:RHHBY) on a Phase 2 clinical trial, PASADENA, evaluating prasinezumab in patients with early Parkinson’s disease (PD).

Part 1 of the study failed to achieve the primary endpoint of the change from baseline in a scale called MDS-UPDRS Total Score at week 52.

“Signs of efficacy” were observed on multiple secondary endpoints. Roche is evaluating the data as it determines next steps.

Part 2 is a 52-week extension phase for on-treatment patients.

The company is collaborating with Roche on development under a December 2013 agreement. Roche owns exclusive rights ex-U.S. while Prothena retains the option to co-promote in the U.S.

Prasinezumab is a humanized monoclonal antibody that binds to a protein called alpha-synuclein that is found primarily in brain tissue and linked to PD via its interference with brain cell signaling in its aberrant forms.

https://seekingalpha.com/news/3563080-prothena-down-16-parkinsons-drug-flops-in-mid-stage-study