Prana Biotech Plunges as Drug Fails in Alzheimer Study
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Prana Biotechnology Ltd. plunged the most ever in New York after the company’s experimental drug for Alzheimer’s disease failed to help patients in a trial.
The treatment, PBT2, didn’t show a statistically significant reduction in the levels of beta-amyloid plaques in the brains of people with mild Alzheimer’s, the Armadale, Australia-based company said in a statement today. PBT2 also led to no improvement in brain metabolic activity, cognition and function, Prana said.