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Monday, January 27, 2020

Principia Biopharma down on bearish Kerrisdale report

Thinly traded Principia Biopharma (PRNB -8.5%) is down, albeit on a modest 140K shares, on the heels of a bearish report from Kerrisdale Capital who is short the stock and sees 80% downside.
The private investment manager cites the company’s bullish valuation and the risk that BTK inhibition will not work well in autoimmune disorders. It says data on PRN1008 in pemphigus and immune thrombocytopenia are inferior to standard-of-care therapies.
https://seekingalpha.com/news/3534731-principia-biopharma-down-9-on-bearish-kerrisdale-report

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