Shares of Prothena Corporation (PRTA - Free Report) have gained 88.5% in the past six months compared with the industry’s increase of 0.4%.
The significant increase in the share price can be attributed to the recent spotlight on the Alzheimer’s Disease (AD) space, as investors are now optimistic about the pipeline candidates of companies developing treatments for the same and Prothena is one of them.
Prothena’s promising AD pipeline spans next-generation antibody immunotherapy, small molecules and vaccines.
The candidate PRX005, which is potentially the best-in-class treatment for AD and is being developed in collaboration with Bristol Myers Squibb, is an investigational antibody that specifically targets a key epitope within the microtubule binding region (MTBR) of tau, a protein implicated in diseases including AD, frontotemporal dementia (FTD), progressive supranuclear palsy (PSP), chronic traumatic encephalopathy (CTE), and other tauopathies.
Prothena is also evaluating PRX012, an investigational high-potency monoclonal antibody targeting a key epitope at the N-terminus of amyloid beta (Aβ) for treating AD. The FDA granted Fast Track designation to PRX012 for the treatment of AD.
The company is also developing a dual Aβ-Tau vaccine — a potential prevention and treatment for AD — to target key epitopes within Aβ and tau proteins to promote amyloid clearance and block pathogenic tau interaction. An Investigational New Drug application for the vaccine is anticipated in 2023.
AD is a progressive, fatal disease of the brain characterized by a decline in memory, language and other thinking skills, as well as changes in mood and behavior.
We remind investors that the FDA’s approval of Biogen’s (BIIB - Free Report) and Eisai’s controversial AD drug, Aduhelm, in June 2021 put this space in the spotlight. The euphoria surrounding Aduhelm, however, faded as the drug witnessed a slow launch due to reimbursement issues as its efficacy was scrutinized.
Nevertheless, despite the complexities associated with developing a treatment for AD and past failures, the space will continue to attract attention from pharma and biotech companies, given the significant unmet need.
Other candidates in Prothena’s pipeline include prasinezumab, developed in collaboration with Roche (RHHBY - Free Report) , for the treatment of Parkinson’s disease.
In November 2022, Roche announced the failure of the GRADUATE I and II studies, evaluating gantenerumab in early AD. The studies did not meet their primary endpoint of slowing clinical decline.
The news also put the spotlight on other companies developing AD treatments, namely Biogen, Eli Lilly and Prothena.
Meanwhile, Prothena is also evaluating birtamimab, a potential treatment for AL amyloidosis. It reached a Special Protocol Assessment agreement with the FDA and initiated a confirmatory phase III AFFIRM-AL study of birtamimab in Mayo Stage IV patients with AL amyloidosis in 2021.
The successful development of any of these candidates will be a significant boost for Prothena.
Prothena currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Shares of Prothena Corporation (PRTA - Free Report) have gained 88.5% in the past six months compared with the industry’s increase of 0.4%.
The significant increase in the share price can be attributed to the recent spotlight on the Alzheimer’s Disease (AD) space, as investors are now optimistic about the pipeline candidates of companies developing treatments for the same and Prothena is one of them.
Prothena’s promising AD pipeline spans next-generation antibody immunotherapy, small molecules and vaccines.
The candidate PRX005, which is potentially the best-in-class treatment for AD and is being developed in collaboration with Bristol Myers Squibb, is an investigational antibody that specifically targets a key epitope within the microtubule binding region (MTBR) of tau, a protein implicated in diseases including AD, frontotemporal dementia (FTD), progressive supranuclear palsy (PSP), chronic traumatic encephalopathy (CTE), and other tauopathies.
Prothena is also evaluating PRX012, an investigational high-potency monoclonal antibody targeting a key epitope at the N-terminus of amyloid beta (Aβ) for treating AD. The FDA granted Fast Track designation to PRX012 for the treatment of AD.
The company is also developing a dual Aβ-Tau vaccine — a potential prevention and treatment for AD — to target key epitopes within Aβ and tau proteins to promote amyloid clearance and block pathogenic tau interaction. An Investigational New Drug application for the vaccine is anticipated in 2023.
AD is a progressive, fatal disease of the brain characterized by a decline in memory, language and other thinking skills, as well as changes in mood and behavior.
We remind investors that the FDA’s approval of Biogen’s (BIIB - Free Report) and Eisai’s controversial AD drug, Aduhelm, in June 2021 put this space in the spotlight. The euphoria surrounding Aduhelm, however, faded as the drug witnessed a slow launch due to reimbursement issues as its efficacy was scrutinized.
Nevertheless, despite the complexities associated with developing a treatment for AD and past failures, the space will continue to attract attention from pharma and biotech companies, given the significant unmet need.
Other candidates in Prothena’s pipeline include prasinezumab, developed in collaboration with Roche (RHHBY - Free Report) , for the treatment of Parkinson’s disease.
In November 2022, Roche announced the failure of the GRADUATE I and II studies, evaluating gantenerumab in early AD. The studies did not meet their primary endpoint of slowing clinical decline.
The news also put the spotlight on other companies developing AD treatments, namely Biogen, Eli Lilly and Prothena.
Meanwhile, Prothena is also evaluating birtamimab, a potential treatment for AL amyloidosis. It reached a Special Protocol Assessment agreement with the FDA and initiated a confirmatory phase III AFFIRM-AL study of birtamimab in Mayo Stage IV patients with AL amyloidosis in 2021.
The successful development of any of these candidates will be a significant boost for Prothena.
Prothena currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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