Proteostasis Stock Surges On Positive Data From CF Studies
Zacks Investment Research | Dec 12, 2017 09:24PM ET
Proteostasis Therapeutics, Inc.’s (NASDAQ:PTI) shares surged more than 160% on Dec 12 after the announcement of positive results from studies evaluating its three cystic fibrosis ("CF") pipeline candidates. The three candidates include PTI-428 (a cystic fibrosis transmembrane conductance regulator [CFTR] amplifier), PTI-801 (a CFTR corrector) and PTI-808 (a CFTR potentiator).
PTI-428 and PTI-801 were evaluated in patients who were on background therapy with Vertex Pharmaceuticals Incorporated’s (NASDAQ:VRTX) Orkambi.
Shares of the company were up 60.7% in the past six months, outperforming the industry ’s decline of 0.6% in that period.
The most advanced candidate, PTI-428, was evaluated in a phase II study in CF patients on background Orkambi therapy. Data showed that the addition of PTI-428 to Orkambi had mean absolute improvements in ppFEV1 (a measure of the lung function used for the disease) of 5.2% from baseline compared to placebo. It also showed a mean relative improvement of 9.2%. Data demonstrates that PTI-428 amplifies the effect of Orkambi in responding patients (ppFEV1
The dose ranging phase I study evaluating PTI-801 showed a mean improvement in ppFEV1 of approximately 4% from baseline. Moreover, a phase I study evaluating PTI-808 showed that the candidate is well tolerated in patient population.
Proteostasis is also evaluating the combination of PTI-428, PTI-801 and PTI-808 in CF patients in an early stage study. A preliminary analysis showed that the combination is well tolerated in patients and has the potential to be developed for once-daily dosing.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.