the australian financial review

Alzheimer's trials launch Prana shares

Date 25/7/2006
Author Eli Greenblat
Source The Australian Financial Review --- Page: 24
Shares in Australian drug developer Prana Technology spiked on 24 July 2006. Tis followed news of a successful trial of a drug for Alzheimer's Disease. Traders were not deterred by the fact that the results came from an experiment with mice and that testing is in its very early stages. When trade opened the share price soared by 320 per cent, reaching a high of $A0.80. The stock eventually closed 158 per cent up at $A0.49. Analysts say most of the activity was sparked by day traders looking for a quick profit. About four per cent of the shares on issue were traded during the session