4. start of new thread. 4, page-91

re: 4. preliminary final report. 4 Prana Biotechnology Ltd 37 080 699 065 Page 1
PRANA BIOTECHNOLOGY LTD
37 080 699 065
APPENDIX 4E
PRELIMINARY FINANCIAL REPORT
given to ASX under listing rule 4.3A
for the period ending 30 June 2004
Prana Biotechnology Ltd 37 080 699 065 Page 2
RESULTS FOR ANNOUNCEMENT TO THE MARKET
Revenues from ordinary activities
up 27.79% to 2,321,227
Loss from ordinary activities after tax attributable to
members
up 115.62% to (9,885,614)
Net loss for the period attributable to members up 115.62% to (9,885,614)
Dividends (distributions) Amount per
security
Franked amount
per security
Final dividend
n/a
n/a
Previous corresponding period
n/a
n/a
+Record date for determining entitlements to the
dividend, (in the case of a trust, distribution)
n/a
Explanation of the above information:
Prana Biotechnology Ltd 37 080 699 065 Page 3



COMMENTARY OF RESULTS
Your directors submit the preliminary financial report of the economic entity for the year ended 30
June 2004.
Directors
The names of directors who held office during or since the end of the year:
Geoffrey Kempler Executive Chairman Appointed 11 November 1997
Jonas Alsenas Executive Director &
Chief Executive Officer
Appointed 25 March 2004
Appointed 9 September 2004
Colin Masters Executive Director Appointed 9 December 1999
Brian Meltzer Non-Executive Director Appointed 9 December 1999
George Mihaly Non-Executive Director Appointed 9 December 1999
Review of Operations
Drug Development:
· PBT-1: Double blind proof-of-concept clinical trial and extension clinical trial complete. Results of the
initial double blind portion of the study were submitted and published in the prestigious specialist journal
Archives of Neurology in December 2003.
· PBT-2: Proprietary lead molecule selected and formal development initiated. Formal toxicology is
targeted to complete in 2004 and if successful this will allow clinical trials to initiate in early 2005
· Design and synthesis is underway for next generation compounds for Alzheimer ’s disease (NG-1) and
Parkinson’s Disease (NG-2). Multiple candidates for NG-1 have been identified and a development
candidate is targeted in 2004.
· Immunotherapy: Research progressing and on track for initial proof of principle trials to initiate in 2004.
· Chemistry and Discovery program: Over 400 MPACs (metal-protein attenuating compounds) now
designed, synthesised and tested in preclinical models. Over 100 MPACs of new structural classes from
PBT-1 and PBT-2 synthesised and tested.
Start Grant
· A second $1.35M AusIndustry Start Grant awarded to support further PBT-2 development.
Capital Raising
· In September 2003, the Company completed a Private Placement to Australian professional investors of
Peregrine Corporate Limited, raising approximately $5m AUD.
· In June 2004, the Company completed a Private Placement to US institutional and professional investors
in the US, led by Orbimed Advisors and XMark Funds, raising an additional $20m USD, with 3 for 4 free
attaching US Warrants, each to acquire 1 ADR. If fully exercised, these Warrants will raise an additional
$24m USD for the Company. Rodman and Renshaw, LLC acted as the Placement agent for the offering.
· An additional $0.76m AUD was raised during the year in review via the exercise of unlisted options.
Research and Development Team
· Research team enhanced by the ongoing 10 year commitment made by Associate Professor Ashley Bush.
Board and Management
· In March 2004, Dr. Jonas Alsenas was appointed to the Board of the Company. In August 2004, Jonas
accepted the appointment of Chief Executive Officer by the unanimous decision of the Board. Dr. Alsenas
is the Company’s first US based Executive Director, with extensive expertise in the biotechnology sector.
Among his achievements, he was named an “All-Star Analyst” by The Wall Street Journal in 1998 (for
both stock-picking and earnings accuracy).
US and UK Subsidiaries
· As the Company progresses its efforts to commercialise its technology, the Company has opened a US
subsidiary, Prana Biotechnology Inc., thus allowing easier access to US investors and institutions.
· The Company has also established a subsidiary in the UK to allow it to conduct commercial and
clinical operations in the UK.
Publications :
· Key publications and articles were submitted for inclusion in key International peer reviewed journals .
· The publication associated with the PBT-1 clinical trial published in the prestigious specialist journal
Archives of Neurology in December 2003.
Geoffrey Kempler Jonas Alsenas
Executive Chairman CEO
Dated this 25th day of August 2004