Proteostasis Therapeutics, Inc. | $PTI Stock | Shares Fall On Poor Earning Results

Proteostasis Therapeutics

Proteostasis Therapeutics, Inc. (NASDAQ: PTI)



Proteostasis Therapeutics, Inc. (PTI), a biopharmaceutical company yesterday reported their fourth quarter and full year 2016 financial results. Proteostasis reported a loss of $9.4 million in the fourth quarter. Proteostasis reported fourth quarter earnings of a loss of $0.38 per share.  Proteostasis reported fourth quarter revenues of $4.1 million.


Proteostasis Therapeutics, Inc. CEO’s Comments

“Today, CFTR modulator triple combinations represent the greatest promise for delivering maximum efficacy for the vast majority of CF patients and have become the central focus in a rapidly evolving clinical landscape,” said Meenu Chhabra, president and chief executive officer of Proteostasis Therapeutics.  “Preclinical data suggest that Proteostasis’ proprietary triple combination solution of an amplifier (PTI-428), a corrector (PTI-801) and a potentiator (PTI-808) has the potential to demonstrate best-in-class efficacy because it is the only triple combination that addresses separate aspects of CFTR dysfunction in an entirely orthogonal manner from protein synthesis to processing to function.  To realize this potential in an increasingly crowded clinical environment, we are pivoting our PTI-428 program to ex-U.S. clinical sites, initiating the clinical development of PTI-801 in regions where Orkambi is approved and expect to file an IND for PTI-808 in the second quarter.  Our goal is to establish efficacy for PTI-428 and PTI-801 in an Orkambi population, and thus start the proof of concept study for our triple combination by the end of the year.”  Globe Newswire


PTI Technical Analysis

Proteostasis Therapeutics

PTI opened trading yesterday at $11.12 which was up from the previous day’s trading close of $11.10. PTI closed trading yesterday at $10.89 and spiked down after market to $9.50, equivalent to a 13% decrease from the closing price. Taking a look at the daily chart we can see that the last time PTI traded below these levels we have to go back to November 8th, 2016 when it traded at $9.30.

Taking a closer look at the daily chart we can see that before the spike down PTI had already been in an overall downward trend dating back to February 17th when it traded at $16.31. PTI has a float of 12.49 million shares and traded below the normal daily trading volume on Thursday.

For day trading trading purposes, I would like to see PTI open trading on Friday below $10.00 and if it does I would be looking to take a short position at the bell but would like to see it pop back up to the VWAP for a better short entry. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap down.


Company Profile

Proteostasis Therapeutics, Inc., a biopharmaceutical company, develops therapeutics to treat protein conformational diseases. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class. The company is also developing PTI-NC-733, a novel combination therapy; and PTI-130 for the treatment of chronic obstructive pulmonary disease.

It has strategic alliance with Biogen New Ventures Inc. to enhance the clearance of misfolded aggregation-prone proteins in neurodegenerative diseases, such as in Alzheimer’s and Parkinson’s disease; and Astellas Pharma Inc. to research, develop, and commercialize therapies targeting unfolded protein response.

The company was formerly known as Proteoguard, Inc. and changed its name to Proteostasis Therapeutics, Inc. in September 2007. Proteostasis Therapeutics, Inc. was founded in 2006 and is based in Cambridge, Massachusetts.  Yahoo Finance


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