Australian-listed Prana Biotechnology (ASX:PBT)(NASDAQ:PRAN) gave updates today on the company’s ongoing Phase II trials for lead compound PBT2, a potential treatment for neurodegenerative diseases Alzheimer’s and Huntington’s. After a 20% rally yesterday, the stock is giving up some of those gains today and is down 7% in late morning. Shares, however, are moving this week at ten times normal volume on the Australian Securities Exchange, and triple average volume on the Nasdaq. Although too early for definitive results in the studies, Prana’s approach, which targets defects in the metabolism of biological metals, showed promise in earlier trials and presents investors with an underexposed Alzheimer’s play. (more…)
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