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Prothena (PRTA) is scrapping its lead drug development program following the failure of an important mid-stage clinical trial, the company said Monday.

For months, investors long and short have been arguing over Prothena’s valuation and the viability of its lead drug, NEOD001, to treat AL amyloidosis, a rare disease that causes damage to the heart and kidneys due to the buildup of misfolded proteins.

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