Proteostasis data ‘confusing’ but Wainwright keeps buy

Proteostasis data bring more questions than answers, says H.C. Wainwrigh. H.C. Wainwright analyst Andrew Fein sees more questions than answers after Proteostasis Therapeutics (PTI) reported the initial outcome of its 801-01 clinical trial comprising 14 day dosing of PTI-801, a second generator corrector on top of Vertex’s (VRTX) Orkambi. In the analyst’s opinion, the trial met its primary objective of demonstrating safety and tolerability for three different doses of PTI-801. However, Proteostasis reported on a series of outcome measurements that “generated some positive data, some negative data and some somewhat confusing data,” the analyst adds. In the end, he feels the data set is “somewhat incompletely baked and provides more questions than answers.” Fein has a Buy rating on Proteostasis with a $15 price target.

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