Pro­teosta­sis pulls stock of­fer­ing fol­low­ing Ker­ris­dale short re­port; Cidara is­sues sup­ple­men­tal PhII reza­fun­gin da­ta

→ Hours af­ter the com­pa­ny came un­der as­sault by the hit squad at Ker­ris­dale Cap­i­tal, Pro­teosta­sis Ther­a­peu­tics $PTI yanked a planned of­fer­ing of 9 mil­lion shares. The Cam­bridge, MA-based Pro­teosta­sis was bank­ing on the surge in share price it en­joyed af­ter the FDA pro­vid­ed break­through sta­tus for its lead cys­tic fi­bro­sis drug. Ker­ris­dale, though, is­sued a re­port say­ing that its Phase II da­ta were es­sen­tial­ly bo­gus. And the biotech’s shares plunged on the short at­tack. The stock is back up this morn­ing, re­gain­ing the val­ue lost af­ter it ini­tial­ly an­nounced the of­fer­ing.

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