Prana Biotechnology Falls on Disappointing PBT2 Results and Nordion to be acquired by Sterigenics for $727M
Prana Biotechnology Limited (NASDAQ: PRAN) shares sank 70% on Monday after the company’s most advanced drug candidate, PBT2, failed to meet its primary endpoint in a study of Alzheimer's disease patients. It was optimism over PBT2's potential that helped the stock move up in the past year, but Alzheimer's patients treated with PBT2 failed to show a statistically significant reduction in the levels of beta-amyloid plaques relative to a control group. Prana is also studying PBT2 as a potential treatment for Huntington's disease. "Whilst not meeting all of our hopes, this result does not deter