Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) new Huntington disease pill PB2 fails Efficacy hurdle
Boston, MA 02/18/2014 (wallstreetpr) – Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) is grappling with news that its Bio Huntingtondisease pill PB2, has failed a key efficacy hurdle, the company had initially announced a successful phase II study results as the drug was found to be safe for Huntington’s patients. The drug was later found to be inadequate in improving motor or cognitive function of affected patients compared to placebo.
The phase II study was carried out on 109 patients of whom 95% completed the sturdy on the assigned dose and rate thus the achievement of the safety primary endpoint. The efficacy test utilized Chinese menu of outcomes all of whom provided negative results and failed to detect any substantial benefit attributed to PB2. Prana Biotech as a result plunged in the market by 13.2% as a result of the negative news.
Youku Tudou Inc. (ADR) (NYSE:YOKU) Shares up beat in the market
Youku Tudou Inc. (ADR) (NYSE:YOKU) has been performing well in the recent trading sessions at the back of its fourth quarter results that beat consensus estimates. The increase in revenue of 67% seem to have done more good to the company stock as it has caught the eyes of many analysts and investors in Wall Street. Youku Tudou registered revenues of $125.2 million for its fourth quarter witha GAAP net loss of $24.2 million that was slightly high compared to a loss of $9.9 million recorded for the same quarter in F2012.
The company stock are currently trading high at the New York stock exchange having moved up by 7.23% as of mid-day to reach highs of $32.32 a share.
GT Advanced technologies Inc. (NASDAQ:GTAT) acquires exclusive rights for PVD Process technology
GT Advanced technologies Inc. (NASDAQ:GTAT) has announced it has acquired exclusive rights to Kayma Technologies plasma vapor deposition (PVD) process technology which is essentially a high growth initiation layer of aluminum on wafers. GT intends to commercialize the PVD tool that will supplement its HPVE system.
The combined offering if it comes to full realization will be beneficial to LED manufacturers, according them with lower costs of producing gallium Nitride templates on planar wafers.GT shares are currently upbeat in the market moving up by 7.63% in midday trading session this is essentially at the back of Canaccord Genuity analyst firm raising its price target from $13 to $ 15.
