Don't apologize for the rant chucke. I am sure a lot of investors feel the same. Note when the price on the NASDAQ hit its lowest close the 1yr RSI dropped to 32, which is just on the line(30) of being the generally accepted level of oversold. As a result of the rise yesterday, that RSI rose to 37. There were only about 14K ADR's traded, and only a few hundred ADR's involved in the rise close to end of day.
Whoever is doing that may let the RSI recover more before walking it down further. That is just a wild guess, but I am sorry for investors that Prana seem so unconcerned.
It is just strange that the value of this company is now lower than it was with no trial running. There is a huge upside here if Prana can deliver the goods, and indications of combined data available so far is that they can. The Fairpark iron chelation PD trial could provide a big boost, but they don't expect to report on their chelation drug till H1 2020, The human data Fairpark have so far if for 6m human studies. Their current trial takes it out to 9 months.
The low price is even more surprising considering the work ongoing at the Florey using an iron chelator(DFP) to treat AD. Success there would put Prana at center stage with an AD drug in PBT434.
[To test the theory, Florey scientists plan to use an existing drug, deferiprone, to ‘mop-up’ excess iron in the brain and see if it can slow down the progression of the disease. “The 3D trial is extremely exciting because for the first time we will able to assess someone's risk of progressing into cognitive decline without needing to perform invasive and costly tests. We will also be testing a compound that may prevent or slow the natural course of the disease” says Professor Bush. “If the 3D trial results prove that low iron slows disease progression, we imagine a future where your GP sends you off for your 60-year health check, including a brain iron MRI scan, which is quick, cheap and painless. If you have high brain iron, then we would order an amyloid PET scan. Once we had those two measurements, we could predict the likely onset of Alzheimer’s and begin you on therapy to lower the iron, and delay disease onset.”]
https://www.florey.edu.au/science-research/clinical-trials/3d-study
Not sure when this study will finish, but it could change everything. Could someone be trying to take this private or sell it off before that happens. This low price makes no sense to me.
