Prana Biotechnology Limited (ADR) (NASDAQ: PRAN)
Prana Biotechnology is enjoying the morning this morning, for sure. After announcing positive pre-clinical data, the stock started to soar. As is nearly always the case, our partners at Trade Ideas were the first to inform us of the gains on the stock. At the moment (9:52), PRAN is trading at $4.38 per share after a gain of $1.91 per share (77.33%) thus far today.
PRAN Releases Positive Pre-Clinical Data
As mentioned above, Prana Biotechnology is having an incredibly strong day in the market today, and for good reason. The company released strong pre-clinical data that is causing excitement among investors. The data surrounds the pre-clinical drug candidate known as PBT434. This candidate is a first-in-class disease modifying therapy for the treatment of Parkinsonian movement. PRAN produced strong pre-clinical evidence that they are on the right track with the treatment.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching PRAN incredibly closely. In particular, we’re interested in following the company through the process with PBT434. Considering the strong pre-clinical data that the company released today, we’re expecting that clinical trials will likely begin relatively soon (within the next year or so). We’ll continue to follow the story closely and bring you the news as it breaks!
What Do You Think?
Where do you think PRAN is headed moving forward? Join the discussion in the comments below or on StockTwits!
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