Proteostasis Therapeutics, Inc.’s PTI shares surged more than 160% on Dec 12 after the announcement of positive results from studies evaluating its three cystic fibrosis ("CF") pipeline candidates. The three candidates include PTI-428 (a cystic fibrosis transmembrane conductance regulator [CFTR] amplifier), PTI-801 (a CFTR corrector) and PTI-808 (a CFTR potentiator).
PTI-428 and PTI-801 were evaluated in patients who were on background therapy with Vertex Pharmaceuticals Incorporated’s VRTX Orkambi.
Shares of the company were up 60.7% in the past six months, outperforming the industry’s decline of 0.6% in that period.
The most advanced candidate, PTI-428, was evaluated in a phase II study in CF patients on background Orkambi therapy. Data showed that the addition of PTI-428 to Orkambi had mean absolute improvements in ppFEV1 (a measure of the lung function used for the disease) of 5.2% from baseline compared to placebo. It also showed a mean relative improvement of 9.2%. Data demonstrates that PTI-428 amplifies the effect of Orkambi in responding patients (ppFEV1 <70% at baseline).
The dose ranging phase I study evaluating PTI-801 showed a mean improvement in ppFEV1 of approximately 4% from baseline. Moreover, a phase I study evaluating PTI-808 showed that the candidate is well tolerated in patient population.
Proteostasis is also evaluating the combination of PTI-428, PTI-801 and PTI-808 in CF patients in an early stage study. A preliminary analysis showed that the combination is well tolerated in patients and has the potential to be developed for once-daily dosing.
Proteostasis Therapeutics, Inc. Price
Proteostasis Therapeutics, Inc. Price | Proteostasis Therapeutics, Inc. Quote
Zacks Rank & Stocks to Consider
Proteostasis carries a Zacks Rank #3 (Hold).
A couple of better-ranked stocks in the pharma sector include ACADIA Pharmaceuticals Inc. ACAD and Corcept Therapeutics Inc. CORT. Both the stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ACADIA’s loss estimates narrowed from $2.44 to $2.41 for 2017 and from $1.67 to $1.59 over the last 30 days. The company came up with a positive earnings surprise in three of the trailing four quarters with an average beat of 9.95%. The company’s shares have returned 5.7% so far this year.
Corcept’s earnings per share estimates have increased from 78 cents to 88 cents for 2018 over the last 60 days. The company delivered a positive earnings surprise in two of the trailing four quarters with an average beat of 14.32%. The company’s stock is up 131.3% so far this year.
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Vertex Pharmaceuticals Incorporated (VRTX) : Free Stock Analysis Report
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