Proteostasis stock soars on cystic fibrosis breakthrough status
Shares are skyrocketing at Proteostasis $PTI, a small biotech in Cambridge, MA, following news that regulators handed out breakthrough status to the company’s cystic fibrosis therapy.
The good news follows positive data announced last year for the company’s first-in-class CFTR amplifier, and a $50 million IPO just before that.
The drug, called PTI-428, is meant to boost levels of the CFTR protein, which is lacking in cystic fibrosis patients. The therapy is an add-on treatment for patients with the F508del mutation in the CFTR gene who are already taking an approved CFTR modulator or as part of Proteostasis’ triple combo regimen that includes PTI-808, a potentiator, and PTI-801, a corrector.
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