Prothena jumps on report of biotech firm exploring potential sale

Prothena

16/10/2023 18:46

** Shares of Prothena Corp  PRTA.O  soar 19.8% to $52.80 on
a report that the biotech firm is preparing for a potential sale
    ** Stock on track for biggest single-day percentage gain in
over five months, if gains hold 
    ** Co is exploring options that may include a sale or
partnership; could attract interest from larger drugmakers -
Bloomberg News report
    ** The drugmaker's experimental treatment for Alzheimers's
disease is in early-stage trials; results expected by end of
year
    ** Report says deliberations are in early-stage
    ** Co has a market cap of $2.36 bln as of Monday - LSEG data
    ** Prothena said it does not comment on market speculation,
when contacted by Reuters
    ** Including session's gains, stock down 12.2% YTD 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))