By Katherine Hamilton
Shares of Prothena climbed Thursday after the company said a trial of its Parkinson's treatment suggests potential clinical benefits in the early stages of the disease, even though it missed its primary endpoint.
The stock was up 37.5% to $16.41 in recent trading and. It has fallen about 55% this year.
The study, conducted by Roche, investigated prasinezumab in almost 600 people with early-stage Parkinson's disease.
The treatment showed potential clinical effect, including a delay in motor progression, as well as consistent positive trends across multiple secondary and exploratory endpoints. There were no new safety issues.
The results will inform further clinical development of prasinezumab as a potential disease-modifying treatment for Parkinson's patients, the biotechnology company said.
Roche is evaluating the data and will work with health authorities to determine next steps, Prothena said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 19, 2024 15:21 ET (20:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.