Sahm Adrangi's Kerrisdale Capital Issues Negative Report on Proteostasis Therapeutics, Inc., and Announces Conference-Call Schedule

- Kerrisdale believes that Proteostasis Therapeutics' investigational cystic-fibrosis drug, PTI-428, is ineffective and will fail future Phase 3 trials

- In PTI-428's Phase 2 study, the placebo group's small sample size and anomalously bad outcomes misleadingly make the treatment group's unimpressive results look good by comparison

- Kerrisdale believes that Proteostasis has repeatedly swept negative data points under the rug

NEW YORK, March 20, 2018 /PRNewswire/ -- Kerrisdale Capital, a private investment manager, has published a negative report explaining its short position in Proteostasis Therapeutics, Inc. PTI, a development-stage biopharmaceutical company whose market value is based primarily on PTI-428, its lead drug candidate for the treatment of cystic fibrosis. Proteostasis's stock price increased ~100% after the FDA granted the drug Breakthrough Therapy and Orphan Drug designations, but Kerrisdale's analysis demonstrates that PTI-428 is likely ineffective. Kerrisdale also details a pattern of low-quality data and troubling omissions in Proteostasis's public disclosures.

The full report can be found at http://kerr.co/pti.

Kerrisdale has a short position in Proteostasis Therapeutics, Inc., and stands to benefit if its share price falls.

Conference Call Schedule
Kerrisdale will host a conference call on Tuesday, March 20 at 10:30am ET to discuss the Proteostasis report.

To participate in the conference call, dial (866) 834-3313 (United States) or (409) 981-0700 (international) and reference the Kerrisdale Capital call.

About Kerrisdale Capital
Kerrisdale Capital Management, LLC, is a fundamentally-oriented investment manager that focuses on long-term value investments and event-driven special situations.

Contact
Agnes Cao
Kerrisdale Capital
acao@kerrisdalecap.com 
212-257-4385

Kerrisdale Capital Management, LLC is a member of the Financial Industry Regulatory Authority, CRD number 160804.

Cision View original content:http://www.prnewswire.com/news-releases/sahm-adrangis-kerrisdale-capital-issues-negative-report-on-proteostasis-therapeutics-inc-and-announces-conference-call-schedule-300616553.html

SOURCE Kerrisdale Capital Management, LLC

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!