Shares in Prana Biotechnology Limited (ASX:PBT, NASDAQ:PRAN) rallied yesterday following the release of trial results.
Investors applauded the dual-listed drug developer’s Phase 2 clinical drug trial investigating its flagship PBT2 drug as a treatment for Huntington disease.
Huntington disease is a heredity, neurodegenerative disease which impacts thinking and muscle movement.
Prana’s latest results show PBT2 has potential to be the world’s first disease modifying drug in patients with Huntington disease.
The company plans to now advance PBT2 to a confirmatory Phase 3 clinical trial.
Shares in Prana Biotechnology rallied 21.31 per cent on Wednesday to end the session at $1.11.
Prana Biotechnology reported a net loss of $7.8 million in the 2013 financial year.
