Prana shares jump as brain disorder drug succeeds in trial

[riky]

Prana shares jump as brain disorder drug succeeds in trial

Shares of Prana Biotechnology Ltd rose as much as 31 percent after the company said its experimental brain disorder drug improved cognitive function in a study on patients with Huntington's disease. "In a small trial, you don't expect to hit statistical significance on a secondary endpoint of efficacy," MLV & Co analyst Graig Suvannavejh told Reuters. "You would hope at best to see positive trends." Prana said on Tuesday that the drug met the main goals of safety and tolerability in the trial, and that there were no substantial differences in adverse events in patients treated with the drug, and those on placebo. Lundbeck's Xenazine, the only approved treatment for Huntington's disease, recorded sales of about 1.2 billion Danish crowns ($220 million) in 2012.

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