Small-cap Australian biotech Prana Biotechnology set out to vanquish a biomarker for Alzheimer’s disease in a Phase II study of a lead drug pursuing an odd avenue in fighting the disease. This morning, when it acknowledged that the study was a bust, the rout of investors popped its stock price, pumped up in a speculative bubble in the lead-up to the results.

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Source: Shares of Prana collapse after long-shot Alzheimer’s study flops


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