Prothena Scraps Lead Candidate NEOD001 following Clinical Failures

Prothena said today it will terminate development of its lead drug, the amyloid light-chain (AL) amyloidosis candidate NEOD001, after it failed a Phase IIb trial and appeared headed for another failure in a Phase III study, touching off a 63% plunge in the company’s stock price.Prothena acknowledged that NEOD001 missed its primary endpoint and three secondary endpoints in the Phase IIb PRONTO study ( NCT02632786 ), a global, multicenter, randomized, double-blind, placebo-controlled clinica