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PTI Stock News: Why Is Proteostasis Therapeutics Stock Skyrocketing Today

William White

Proteostasis Therapeutics stock was going into orbit on Thursday after releasing preliminary results from a recent clinical trial.

PTI Stock News: Why Is Proteostasis Therapeutics Stock Skyrocketing Today

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The preliminary clinical trial results sending PTI stock higher today concern Proteostasis Therapeutics’ (NASDAQ:PTI) therapies to treat cystic fibrosis and other dysfunctional protein processing diseases.

The preliminary results are for tests involving PTI-808, PTI-801, and PTI-428. These are three components that Proteostasis Therapeutics is using in combination with each other to treat cystic fibrosis.

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According to Proteostasis Therapeutics, the goal of its recent clinical trials is to determine the safety, tolerability, and pharmacokinetics of the three drugs. As it turns out, the preliminary results have the drugs reaching all of their primary endpoints, which is good news for Proteostasis Therapeutics stock.

“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,” Carsten Schwarz, MD and Head of Adult Cystic Fibrosis Centre at the Berlin University Medical Center, said in a statement.

There also may be more good news for Proteostasis Therapeutics stock on the horizon. PTI notes that its triplet combination of PTI-801, PTI-808 and PTI-428 is currently in the works. The company expects to have preliminary results from this clinical trial sometime in the fourth quarter of 2018. It is also expecting complete data from this and the other trial in the first quarter of 2019.

PTI stock was up 309% as of noon Thursday, erasing its 69% year-to-date drop.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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