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Proteostasis down 31% on extended timeline for lead product candidate PTI-428 in CF

Published 10/27/2016, 03:35 PM
Proteostasis down 31% on extended timeline for lead product candidate PTI-428 in CF
  • Thinly traded micro cap Proteostasis Therapeutics (PTI -31.2%) slumps on double average volume in response to the company's update this morning on lead product candidate PTI-428, a CFTR modulator in development for the treatment of cystic fibrosis.
  • Results from a Phase 1 study, expected this quarter, will be delayed until Q1 2017. The reasons? The company says one participant in the healthy volunteers trial was murdered and the resultant media attention slowed recruitment. The perpetrator was allegedly a participant in another clinical trial at the same site, the only active site in the healthy volunteers arm. The company adds that Hurricane Matthew also gummed up the works because three trial sites in the CF group were in the path of the storm. The delays mean that the proof-of-concept phase will not begin until later this quarter.
  • PTI-428 is called an amplifier which increases the amount of immature CFTR protein in the cell thereby providing additional substrate for correctors (e.g., lumacaftor) and potentiators (e.g., ivacaftor) to act upon.

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