Former Woodford dud sees fortunes climb on controversial approval of Alzheimer’s drug
Prothena’s share price has spiked 484% this year
Prothena’s share price has spiked 484% this year
Prothena also examines way forward for drug put on hold in 2018
Trust is trading at a discount of 9.7%
The initial public offering (IPO) of biotech company Autolus is a “step in the right direction” for Neil Woodford’s Patient Capital trust but investors should be prepared for a bumpy ride, according to Winterflood Securities.
A Neil Woodford-backed healthcare stock climbed 114% on Tuesday.
Neil Woodford has highlighted his track record for backing biotech winners in his Patient Capital Trust annual review, just one day after Prothena’s share price blow-up.
Neil Woodford has said he will continue to back American biotech firm Prothena, as it reels from the decision to halt development on its star drug, which failed key clinical tests.
Prothena’s shares slipped 16% on Monday, as markets reacted to the firm’s announcement that its chief medical officer (CMO) had stepped down.
Neil Woodford has doubled down on his conviction to Prothena and has accused the market of coming to the wrong conclusion on the success of its lead drug.