Prothena Shareholder Alert - PRTA Stock Drops Almost 70% - Kehoe Law Firm, P.C. Investigating

PHILADELPHIA, April 24, 2018 /PRNewswire/ -- Kehoe Law Firm, P.C. is conducting a securities investigation on behalf of investors of Prothena Corporation plc (NASDAQ: PRTA) to determine whether Prothena Corporation and certain of its officers or directors engaged in securities fraud or other unlawful business practices.

Prothena Discontinues Development of NEOD001 for AL Amyloidosis; PRTA Stock Drops $25.34, or 68.78% to Close at $11.50 on April 23, 2018

On April 23, 2018, Prothena Corporation announced that it

. . . is discontinuing development of NEOD001, an investigational antibody that was being evaluated for the treatment of AL amyloidosis. The decision was based on results from the Phase 2b PRONTO study and a futility analysis of the Phase 3 VITAL study.

Based on the results from the Phase 2b PRONTO study, which did not meet its primary or secondary endpoints, [Prothena] asked the independent data monitoring committee (DMC) of the Phase 3 VITAL study to review a futility analysis of the ongoing VITAL study. The DMC recommended discontinuation of the VITAL study for futility. [Prothena] therefore decided to discontinue all development of NEOD001, including the VITAL study as well as the open label extension studies. (Emphasis added)

Prothena Corporation Investors and Shareholders

If you purchased, or otherwise acquired, Prothena Corporation stock and have questions or concerns about the securities investigation or your potential legal rights, please visit KLF’s Prothena page, contact John A. Kehoe, Esq., (215) 792-6676, Ext. 801, jkehoe@kehoelawfirm.com or e-mail info@kehoelawfirm.com.

Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing.

Contact: John A. Kehoe, Esq., Kehoe Law Firm, P.C.