Prothena medical chief departure has investors questioning expected mid-stage data on lead candidate NEOD001; shares down 19%

|About: Prothena Corp plc (PRTA)|By:, SA News Editor

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)

Subscribe for full text news in your inbox