Prana Biotech crash pinches rich listers

More than 75% of Prana Biotechnology stock has disintegrated this morning after the dual-listed company announced its phase 2b trial failed to reduce the symptoms of Alzheimer’s disease.

More than three quarters of the value in Prana Biotechnology (PBT) stock has disintegrated this morning after the dual-listed company announced its phase 2b trial failed to reduce the symptoms of Alzheimer’s disease.

Shares in the once-loved biotech have plunged 77% to 24 cents at 1100 AEDT – following a similar response in the US overnight – in response to the news.

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