Proteostasis Therapeutics, Inc.
|Company Name||Proteostasis Therapeutics, Inc.|
On March 20, 2018, Kerrisdale Capital Management LLC published a report claiming that the Company’s claimed success of its Phase 2 proof-of-concept trial of PTI-428 “stems almost entirely from the anomalously bad performance of the 4-person placebo group, while, on average, patients taking PTI-428 barely improved.” The report also claimed that “Proteostasis has a habit of sweeping unpleasant or confusing findings under the rug.” On this news, shares of Proteostasis fell $1.83, or 26%, to close at $5.16 on March 20, 2018, thereby injuring investors.
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