Proteostasis Therapeutics Inc (NASDAQ: PTI) is flying early on in the pre-market hours this morning, and for good reason. The company announced positive preliminary data from a clinical study, exciting investors who are pushing the stock through the roof. Today, we’ll talk about:
- The data;
- what we’re seeing from PTI stock as a result; and
- what we’ll be watching for ahead.
PTI Announces Preliminary Clinical Data
As mentioned above Proteostasis Therapeutics is having a great start to the trading session in the pre-market hours this morning after releasing positive clinical data. In a press release issued early this morning, the company offered up positive preliminary results from three doublet cohorts of its ongoing Phase 1 clinical trial. The trial is assessing PTI-808 and PTI-801. The company also provided an enrollment update from the triplet, PTI-808, PTI-801, and PTI-428. These treatments are being assessed as an option for patients with cystic fibrosis.
In the release, PTI said that at the time of the data cut, 21 subjects were randomized and treated in the first three dose cohorts of the doublet combination or received placebo. PK results proved to be as expected and confirmed a once-daily dosing profile for both PTI-801 and PTI-808. The company also said that the compunds are showing to be safe and generally well tolerated.
PTI also said that a dose-dependent improvement in ppFEV1 and sweat chloride concentration was observed across all cohorts. For ppFEV1, a maximum and statistically significant increase from baseline to day 7 of +6.3% and at day 14 of +5.9% was reported in the 300mg dose cohort. In a statement, Carsten Schwarz, MD, Head of the Adult Cystic Fibrosis Centre, Lung-Transplantation Program and Endoscopy Unit in the Department of Pediatric Pneumology and Immunology at the Charité, Berlin University Medical Center, had the following to offer:
Doublet combinations, the current standard of care for many CF patients, are the benchmark for current treatment in cystic fibrosis. These data are the first results seen using an entirely new CF doublet, compare favorably to standard of care, and demonstrate the potential of next-generation CFTR modulators to further improve outcomes in this disease… I look forward to results from the fourth dosing cohort and to understanding the potential of another novel combination, PTI-801, PTI-808 and PTI-428.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Proteostasis Therapeutics, the news proved to be overwhelmingly positive. After all, the positive preliminary data adds further validation to the company’s efforts in the treatment cystic fibrosis. So, it comes as no surprise to see that excited investors are sending the stock screaming for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:36), PTI is trading at $3.73 per share after a gain of $1.84 per share or 97.35% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PTI. In particular, we’re interested infollowing the company’s continued work to combat cystic fibrosis as early clinical results seem to be positive. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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