NEW YORK, April 23, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Prothena Corporation plc ("Prothena" or the "Company") (NASDAQ: PRTA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Prothena and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 23, 2018, Prothena announced that it "is discontinuing development of NEOD001, an investigational antibody that was being evaluated for the treatment of AL amyloidosis." The Company advised investors that "[b]ased on the results from the Phase 2b PRONTO study, which did not meet its primary or secondary endpoints, the Company 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." On this news, Prothena's share price fell $25.34, or 68.78%, to close at $11.50 on April 23, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP