Shares of Proteostasis Therapeutics Inc. (PTI) slightly recovered during today’s trading after huge drop on Monday’s session when company announced results from a phase 1 study of its cystic fibrosis (CF) treatment.
BOSTON, March 25, 2019 /PRNewswire/ — Proteostasis Therapeutics, Inc. (PTI), a clinical stage biopharmaceutical company dedicated to the discovery and development of groundbreaking therapies to treat cystic fibrosis (CF) and other diseases caused by dysfunctional protein processing, today announced results from Phase 1 clinical studies of its proprietary cystic fibrosis transmembrane conductance regulator (CFTR) modulators: PTI-801, a third-generation CFTR corrector; PTI-808, a novel CFTR potentiator; and PTI-428, a novel CFTR amplifier. This comprehensive data set includes efficacy and safety data from 14-day studies of PTI’s proprietary combination therapy (PTI-808, PTI-801 and PTI-428), as well as separate studies of PTI-801 over 14 days and PTI-428 over 28 days as add-on treatments to background tezacaftor/ivacaftor therapy, in CF subjects. Endpoints including safety, changes in sweat chloride (SC) concentration and in percent predicted FEV1 (ppFEV1) were assessed and evaluated.
That was definitely market overreaction hence some recovery is expecting in upcoming days.
On 25 March, Equities researchers from Cantor Fitzgerald sent note to clients and investors of Proteostasis Therapeutics Inc (PTI) where they initiated a “buy” rating with target of $14/share.
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