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Phase II clinical trial results for Alzheimer Plunges Prana Biotechnology

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Shares of Prana Biotechnology Limited (ADR) (NASDAQ:PRAN) are cratering more than 60 percent on news that its phase II drug trail treatment for Alzheimer, PBT2, failed to meet its primary goal. PBT2 failed to reduce the accumulation of the levels of beta amyloid plaques in the brains of Alzheimer patients.