Proteostasis shares whacked hard as CF drug falls short; Advaxis axes trial plans in wake of a clinical hold
→ Proteostasis tried mighty hard to persuade investors that its positive biomarker data from a study of its cystic fibrosis drug PTI-801 underscored the drug’s potential. But with a fail on improving lung function, added to some caustic criticism from a prominent analyst, the stock got whacked.
“While PTI’s corrector binds to a different site on the CFTR protein than Vertex’s medicines, the failure to match the high efficacy bar established by Vertex $VRTX is a testament to the difficult development path for competitors with small molecule therapies for cystic fibrosis,” noted Leerink’s Geoffrey Porges.
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