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.
In this study, treatment with PRX002 caused up to 96% mean reduction in free serum alpha-synuclein levels, which was found to be rapid and dose-dependent following the administration of a single dose. Overall results had high statistical significance. Moreover, PRX002 was safe and well tolerated among the patients.
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.
Based on the above results, Prothena believes that PRX002 has the potential to reverse or cause a clinically significant delay in disease progression in patients suffering 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).
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