NEW YORK (TheStreet) -- Prana Biotechnology  (PRAN) surged Thursday after the company announced a new sub-analysis of its failed study Phase II of PBT2 in Alzheimer's disease.

"Prana has confirmed the top line finding that there is a very promising trend towards the preservation of brain volume (as measured by MRI) in PBT2 treated patients compared to placebo patients," the company said in a press release.

The stock was up 9.57% to $2.51 at 2:01 p.m. More than 10.1 million shares had changed hands, compared to the average volume of 1,285,970.

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PRAN Price Chart PRAN Price data by YCharts

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