Prothena Surges On Positive Phase I Results Of Parkinson''s Drug PRX002

By RTT News, March 19, 2015, 06:54:00 PM EDT

(RTTNews.com) - Prothena Corp plc ( PRTA ), a late-stage clinical biotechnology company, on Thursday said a Phase I study of PRX002, its experimental Parkinson's disease drug, met its primary objective of safety and tolearability.

Following the announcement, Prothena shares jumped more than 38% to $40.50 in after-hours trade on the Nasdaq.

PRX002 is a monoclonal antibody for the potential treatment of Parkinson's disease and other related synucleinopathies. The drug is the focus of a worldwide collaboration between Prothena and Roche.

In the Phase 1 single ascending dose study of PRX002, the drug was safe and well-tolerated.

Further, results from the study showed that administration of PRX002 leads to mean reduction of free serum alpha-synuclein levels of up to 96%.

These overall results were highly statistically significant.

Reduction of free serum alpha-synuclein, a protein potentially involved in the onset and progression of Parkinson's disease and the target of PRX002, was shown to be robust, rapid and dose-dependent after just a single dose.

The Phase 1 double-blind, placebo-controlled, single ascending dose study enrolled 40 healthy volunteers.

No hypersensitivity reactions or drug-related serious adverse events were reported. PRX002 demonstrated favorable pharmacokinetic properties, supporting the current dosing frequency in the on-going Phase 1 multiple ascending dose study in patients with Parkinson's disease.

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Prothena Surges On Positive Phase I Results Of Parkinson''s Drug PRX002