Prothena's PRX002 Positive in Parkinson's Disease Study – Analyst Blog

Prothena Corporation plc PRTA announced that its investigational candidate PRX002 met the primary objective in a double-blind, placebo-controlled, single ascending-dose phase I study on healthy volunteers for the treatment of Parkinson's disease and other related synucleinopathies.

According to the press release issued by Prothena, Parkinson's disease occurs in 1 out of 100 people over the age of 60 years. It holds the second position amongst the most common neurodegenerative disorders, after Alzheimer's disease. Approximately, 7 million - 10 million patients across the world currently suffer from Parkinson's disease.

We note that PRX002 is being developed under a partnership between Prothena and Roche RHHBY . Till the date of issuing the press release, Prothena received $45 million out of the potential $600 million in total milestones. In the U.S, the companies will share all profits and development and commercialization costs on a 30/70 basis (30% Prothena and 70% Roche), while, in ex-U.S. markets, Roche has the sole responsibility of developing and commercializing PRX002. It will pay up to double-digit royalties on net sales of the product (upon approval) to Prothena.

Meanwhile, Prothena is enrolling patients in another phase I multiple ascending-dose study for Parkinson's disease. Results should be out in first half of 2016.

Prothena carries a Zacks Rank #2 (Buy). Other well-ranked stocks in the health care sector include ANI Pharmaceuticals, Inc. ANIP and Cytokinetics, Inc. CYTK . Both carry a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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Prothena's PRX002 Positive in Parkinson's Disease Study - Analyst Blog