Prothena findings bode well for Phase 1 trial in AD patients, says Piper Sandler

Piper Sandler analyst Yasmeen Rahimi keeps an Overweight rating and $94 price target on Prothena after the company reported ‘positive’ topline Phase 1 study results for PRX005. The findings featured a clean safety profile with no SAEs and dose-dependent plasma exposures along with high concentrations in the CSF indicative of high target engagement in the CNS, the analyst tells investors in a research note. The firm also states that the data bode well for the Phase 1 MAD trial in patients with Alzheimer’s disease where data is expected by year-end 2023.