From Yahoo Finance: 2025-05-27 13:08:00

Jefferies downgraded Prothena Corporation plc (NASDAQ:PRTA) from Buy to Hold, with a price target reduction from $32 to $6. This decision followed the discontinuation of the Phase 3 AFFIRM-AL clinical trial for Birtamimab in AL Amyloidosis patients due to failure to meet primary and secondary endpoints.

Prothena Corporation (NASDAQ:PRTA) faces challenges as its Phase III study in light-chain amyloidosis failed for the second time. The company is discontinuing the study and reducing opex related to birtamimab. Updates on PRX-012 Phase I/II for Alzheimer’s are expected in June, with data rollout by August.

Prothena Corporation (NASDAQ:PRTA) is a clinical-stage neuroscience company focused on developing therapies for serious diseases like AL amyloidosis, Alzheimer’s disease, ATTR amyloidosis, Parkinson’s disease, and other neurodegenerative conditions. The company’s pipeline includes both partnered and wholly owned therapies.

Read more: Jefferies Downgrades Prothena Corporation (PRTA) After Negative Trial Results