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prana biotechnology ltd (PRNAF) Key Developments

Prana Biotechnology Limited Reports Consolidated Earnings Results for the Quarter Ended June 30, 2014

Prana Biotechnology Limited reported consolidated earnings results for the quarter ended June 30, 2014. Revenue was $93,135,000 compared to $131,863,000 a year ago. Loss from operating activities were $2,124,000 compared to income from operating activities was $2,270,000 a year ago. Loss before tax was $2,957,000 compared to profit before tax of $1,507,000 a year ago. Loss attributable to owners of the company was $4,432,000 compared to profit attributable to owners of the company of $607,000 a year ago. Net cash generated from operating activities was $5,932,000 compared to $14,923,000 a year ago. Purchase of property, plant and equipment amounted to $703,000 compared to $1,078,000 a year ago. Basic and diluted loss per share was 0.37 cents compared to basic and diluted EPS of 0.05 cents a year ago. The contraction in revenue was due to a slowdown in private construction activities, following the introduction of cooling measures to the private residential property sector. The effect of such measures was adversely felt by the construction sector in Singapore which has led to dampened construction demand.

Prana Biotechnology Limited Announces Joining of Ira Shoulson to the Board of Directors as Non Executive Director

Prana Biotechnology Limited announced joining of Ira Shoulson to it's board of directors as a non-executive director effective immediately. Professor Shoulson is one of the experts in neurodegenerative diseases and movement disorders, and the founder of international academic consortia the Huntington Study Group and Parkinson Study Group. and Medicine (PRSM). He is also principal investigator of the Georgetown University Center of Excellence in Regulatory Science and Innovation (CERSI). Professor Shoulson has served as a consultant to, and member of, several FDA advisory committees over the past three decades, and has been involved in eight successful new drug applications to the FDA. Prior to taking up his position with Prana, Professor Shoulson concluded his elected term as Chair and President of the Huntington Study Group.

Prana Biotechnology Limited - Special Call

To discuss the results of the 12-month Phase II Imaging trial in Alzheimer's disease

Prana Biotechnology Limited Announces Preliminary Results of Phase 2 Imagine Trial of PBT2 in Alzheimer's Disease

Prana Biotechnology Limited has released the top line results of the 12-month Phase II Imaging trial in Alzheimer's Disease, based on draft results. Prana's PBT2 did not meet its primary endpoint of a statistically significant reduction in the levels of beta-amyloid plaques in the brains of prodromal/mild Alzheimer's disease patients, as measured using PiB-PET Standardized Uptake Value Ratio. Whilst there was a reduction in the overall levels of the PiB PET signal in patients treated with PBT2, the results were confounded by an atypical reduction of levels of the PiB PET signal in the placebo group as well. No improvement was observed on the secondary endpoints of brain metabolic activity, cognition and function; however there was a trend towards preserving hippocampal brain volume in the PBT2 group. Specifically, there was less atrophy in those patients treated with PBT2 relative to placebo, 2.6% and 4.0%, respectively. This is consistent with published measures of atrophy in AD patients versus healthy controls of 4.7% and 1.4%, respectively. The company is tracking measures of brain volume and cognition in the current 12 month extension study that will be completed at the end of the year. Further analysis of the results is ongoing. Importantly, PBT2 was shown to be safe and very well tolerated over the 52 weeks. The adverse event profile was equivalent between placebo and treated groups. Forty of the 42 enrolled participants completed the 52 week treatment period. Prana is proceeding with its plans toward a confirmatory study for Huntington disease. Based on Prana's previous discussion with the US Food and Drug Administration, the data on safety and tolerability of PBT2 in Alzheimer's disease will support the future clinical development and, ultimately, a New Drug Application in Huntington disease.

Prana Biotechnology Limited(ASX:PBT) added to S&P/ASX 300 Index

Prana Biotechnology Limited(ASX:PBT) added to S&P/ASX 300 Index


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