ATH 0.00% 3.2¢ alterity therapeutics limited

broker write up!!!!!!!!!

  1. 5,609 Posts.
    The big capital raising story this week
    was that of Prana Biotechnology (PBT,
    $0.84, down 2.3%), which has raised
    $5m by placing 7.15 million shares at
    70 cents each. We looked at length at
    Prana in our 8 August email. As we noted at that time, Prana came back into favour in
    early August, after the company announced that it was intending to take compound for
    the treatment of Alzheimer's Disease called PBT-2 into the clinic from next year to
    follow on from its success with a proof-of-concept compound called PBT-1.
    One of the things which which impressed this analyst upon reading a book by the
    Alzheimer's researcher Rudy Tanzi called Decoding Darkness: The Search for the
    Genetic Causes of Alzheimer's Disease was the size of the market for a drug that will treat Alzheimer's effectively. Perhaps one in eight of us will exhibit Alzheimers once
    we cross the age 65 barrier, and today, even before the Western world's population
    experiences its post Baby Boom aging, perhaps US$100bn gets spent annually in the
    US alone on caring for Alzheimer's patients. More importantly from a business case,
    there are only a few drugs available, these drugs being Pfizer's Aricept, Novartis'
    Exelon and Johnson & Johnson's Reminyl. They're far from satisfactory as treatments -
    there is improved memory for patients taking the drugs for only a short period before
    Alzheimer's resumes its inevitably destructive course. But that hasn't stopped Aricept
    sales moving close to a billion US dollars annually. Bring on the new treatments like
    those being envisaged by Prana.
    Of course, Prana is still some way from having a drug to compete with Aricept. What it
    does have, however, is scientific data related to a hypothesis that is now gaining in
    credibility as to how Alzheimer's progresses and how to tackle it - and should gain
    further credibility once a scientific journal gets around to publishing the results of
    Prana's proof of concept study. The concept is based on the so-called 'amyloid
    hypothesis' - the view that a protein called beta amyloid is what is responsible for the
    memory loss in Alzheimer's patients. Prana's scientists have suggested that metals in the
    brain (not the feared aluminium, but all sorts of metals that we all have in our bodies in
    trace amounts), when showing up in excessive amounts, cause beta-amyloid to become
    a catalyst for the production of hydrogen peroxide (one of the active ingredients in
    bleaches for the alteration of hair colour). This has two effects. Firstly, the hydrogen
    peroxide is itself poisonous to brain cells. Secondly, plaques of amyloid form in the
    brain which are somehow involved in memory loss. What PBT-2, a so-called metal
    protein attenuating compound, has been designed to do is remove metals from the
    brain, thereby preventing the hydrogen peroxide and the amyloid plaques from
    forming. What's also impressive about Prana is that the amyloid hypothesis is
    understood to be relevant to other
    neurodegenerative diseases such as
    Parkinson's disease, which is now
    allowing Prana to build a pipeline
    of compounds behind the original
    Alzheimer's work.
    After this week's placement Prana
    is capped at just over A$60m.
    That's still low given the apparent
    power of the company intellectual
    property, the interest of U.S. institutions to date, and the potential markets into which a
    future Prana Alzheimer's drug would sell. This stock remains one worth following (

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