$6.68 a share. That's what the PRTA I got from the ELN spin-off was valued at. But more importantly it put PRTA on my radar screen. I've been buying it from the low teens - and yes, I'm getting nervous. Following the "pigs get slaughtered" adage I think I'll unload half my position tomorrow. Good luck to all.
whoever dumped big did so back in the 20's. Prothena has all the old Elan r & d and Perigo, which purchased Elan, did not want it and only wanted the Irish shell for tax purposes. Ireland does not have a corporate income tax.
Elan had the biggest, but unsuccessful, inroad to an Alzheimers cure so far and had a very successful MS drug, Tysabri, Some MS sufferers taking Tysabri literally got out of their wheelchairs but some died from taking Tysabri, which is now marketed by Biogen-Idec.
Rumors are Prothena is working on some Parkinson's Disease drug. There has never been any drug that works for Parkinson's. I suspect this may be the reason for the huge run-up in PRTA. Apparently the old Elan people are not afraid to gamble big-time on developing very major blockbuster drugs. Without a doubt any effective drug working for Parkinson's would be a huge huge blockbuster. If there is any Parkinson's inroad this stock could easily go up 10-fold from here. How many millions of people suffer from Parkinson's?
I got 31 shares from 1300 shares of Elan and bought 169 on 1/13/13 at 6.93 and bought on the way up: 100 shares each time it went up 10%. I am now ready for another 100 shares since I last bought 100 shares on 2/27/14 for $36.01. This unfortunately has not made up for my losses on the gold miners in 2012/2013.
I am bullish on PRTA since I did so well with Elan over the years. I am hoping the luck of the Irish I had with Elan will stay with me on my PRTA holding.