Normally, the departure of the Chief Medical Officer does not cause too much of a ripple, but not in Prothena's (PRTA -18.9%) case. Shares are down on a 4x surge in volume.
The broad market's down day notwithstanding, investors are behaving like the exit of Sarah Noonberg, M.D., Ph.D., bodes ill for Phase 2 data on lead candidate NEOD001 in patients with light chain (AL) amyloidosis. Topline data are expected next quarter.
NEOD001 is a monoclonal antibody that binds to circulating soluble and deposited aggregated amyloid that accumulates in patients with AL amyloidosis.
Previously: Prothena slumps 4% on Muddy Waters short position, doubts efficacy of lead product candidate (June 29, 2017)
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