July 24, 2006 – Last week, at an international Alzheimer’s convention in Madrid, Spain, the Australian biotech Prana released a positive report about its new Alzheimer’s drug, PBT2, based on pre-clinical tests performed on mice. The stock price did not react. Today, after Australian news carried a story about the report over the weekend, Prana is trading 70% higher. We take a skeptical look at drug candidate and the runup...
