Proteostasis Therapeutics Inc.

Proteostasis Therapeutics shares tank 18% after Kerrisdale Capital puts out short report

Proteostasis Therapeutics Inc. shares tanked nearly 18% in extremely heavy Tuesday morning trade after Kerrisdale Capital put out a short report on the company. "Stock has run up on unimportant breakthrough-therapy designation, but the underlying clinical data is terrible. The drug is a dud," Kerrisdale Capital said in a statement. Proteostasis shares surged last week on an orphan drug designation from the Food and Drug Administration for its cystic fibrosis drug and a smaller-than-expected fourth-quarter loss. Company shares have risen 7.9% over the last three months, compared with a 1.3% rise in the S&P 500 .

• Mar. 20, 2018 at 10:19 a.m. ET
• by Emma Court

Proteostasis Therapeutics shares tank 18% after Kerrisdale Capital puts out short report

Proteostasis Therapeutics shares tank 18% after Kerrisdale Capital puts out short report

• Mar. 20, 2018 at 10:14 a.m. ET
• by Emma Court

Proteostasis stock rises 22% on FDA designation, smaller-than-expected Q4 loss

Proteostasis Therapeutics Inc. shares rose 22% in premarket trade Thursday after the company reported a smaller-than-expected fourth-quarter loss and said its cystic fibrosis drug had been granted orphan drug designation by the Food and Drug Administration. Orphan drug designation allows for seven years of marketing exclusivity along with federal grants, tax credits and waived administrative filing fees; the drug, PTI-428, previously received a breakthrough therapy designation as well. Also late Wednesday, the company reported a fourth-quarter loss of $13.4 million, compared with the FactSet consensus of a loss of $16.3 million. Its cash, cash equivalents and short-term investments came to $74.5 million as of the end of 2017, which the company expects will fund its expenses into early 2019. Proteostasis shares have surged 31.4% over the last three months to $6.56, compared with a 2.8% rise in the S&P 500 .

• Mar. 15, 2018 at 8:49 a.m. ET
• by Emma Court

Proteostasis's stock rockets on heavy volume after BTD granted

Shares of Proteostasis Therapeutics Inc. rocketed 70% toward an 11-month high in very active morning trade Tuesday, after the biopharmaceutical company said it cystic fibrosis treatment was granted Breakthrough Therapy Designation (BTD) by the Food and Drug Administration. Volume topped 14 million shares, compared with the full-day average over the past 30 days of about 780,000 shares, according to FactSet. The BTD helps expedite the development and review of a drug aimed at treating a serious or life-threatening disease where there is a significant unmet need. "We believe the Breakthrough Therapy Designation for PTI-428 reflects the strength of the recent Phase 2 study results for our amplifier, a novel and proprietary class of CFTR modulators," said Chief Executive Meenu Chhabra. Despite Tuesday's rally, the stock has still shed 45% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has climbed 15% and the S&P 500 has gained 18%.

• Mar. 13, 2018 at 10:16 a.m. ET
• by Tomi Kilgore

Proteostasis Therapeutics started at outperform with $11 stock price target at RBC Capital

Proteostasis Therapeutics started at outperform with $11 stock price target at RBC Capital

• Mar. 9, 2018 at 7:53 a.m. ET
• by Tomi Kilgore

Charting a bullish year-end backdrop, S&P 500 traverses uncharted territory

Technically speaking, U.S. stocks are likely poised to conclude 2017 on a bullish note. On a headline basis, each big three benchmark — the S&P 500, Dow industrials and Nasdaq Composite — has concurrently registered record highs this week, and the late-year selling pressure remains conspicuously flat.

• Dec. 21, 2017 at 11:51 a.m. ET
• by Michael Ashbaugh

U.S. stocks open slightly higher; Dow, S&P could post fifth straight daily gain

• Dec. 13, 2017 at 9:31 a.m. ET
• by Ryan Vlastelica

U.S. stocks open slightly higher; Dow, S&P could post fifth straight daily gain

• Dec. 13, 2017 at 9:31 a.m. ET
• by Ryan Vlastelica

Proteostasis Therapeutics shares down 8% after proposed share offering

• Dec. 12, 2017 at 4:24 p.m. ET
• by Claudia Assis

Proteostasis Therapeutics stock price target raised to $8 from $6 at Leerink

• Dec. 12, 2017 at 1:15 p.m. ET
• by Tomi Kilgore

Proteostasis Therapeutics' stock nearly doubles on heavy volume after positive trial results

• Dec. 12, 2017 at 7:30 a.m. ET
• by Tomi Kilgore

Proteostasis Therapeutics' stock doubles premarket after positive drug trial results

• Dec. 12, 2017 at 7:18 a.m. ET
• by Tomi Kilgore

Proteostasis Therapeutics started at outperform with $13 stock price target at RW Baird

• Mar. 7, 2016 at 7:33 a.m. ET
• by Tomi Kilgore

Proteostasis Therapeutics started at outperform with $20 stock price target at RBC Capital

• Mar. 7, 2016 at 7:28 a.m. ET
• by Tomi Kilgore

Only biotech companies have braved IPO market this year — with insider help

• Feb. 13, 2016 at 9:45 a.m. ET
• by Caitlin Huston

Proteostasis shares down 25%

• Feb. 11, 2016 at 12:03 p.m. ET
• by Caitlin Huston

Proteostasis trading at $6.95, below issue price of $8

• Feb. 11, 2016 at 10:38 a.m. ET
• by Caitlin Huston

CORRECTED: Proteostasis's IPO prices well below expected range, but sells more shares

• Feb. 11, 2016 at 10:36 a.m. ET
• by Tomi Kilgore