NEW YORK, March 20, 2018 /PRNewswire/ -- Kerrisdale
Capital, a private investment manager, has published a negative
report explaining its short position in Proteostasis Therapeutics,
Inc. (NASDAQ: PTI), a development-stage biopharmaceutical company
whose market value is based primarily on PTI-428, its lead drug
candidate for the treatment of cystic fibrosis. Proteostasis's
stock price increased ~100% after the FDA granted the drug
Breakthrough Therapy and Orphan Drug designations, but Kerrisdale's
analysis demonstrates that PTI-428 is likely ineffective.
Kerrisdale also details a pattern of low-quality data and troubling
omissions in Proteostasis's public disclosures.
The full report can be found at http://kerr.co/pti.
Kerrisdale has a short position in Proteostasis Therapeutics,
Inc., and stands to benefit if its share price falls.
Conference Call Schedule
Kerrisdale will host a
conference call on Tuesday, March 20
at 10:30am ET to discuss the
Proteostasis report.
To participate in the conference call, dial (866) 834-3313
(United States) or (409) 981-0700
(international) and reference the Kerrisdale Capital call.
About Kerrisdale Capital
Kerrisdale Capital
Management, LLC, is a fundamentally-oriented investment manager
that focuses on long-term value investments and event-driven
special situations.
Contact
Agnes Cao
Kerrisdale Capital
acao@kerrisdalecap.com
212-257-4385
Kerrisdale Capital Management, LLC is a member of the Financial
Industry Regulatory Authority, CRD number 160804.
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SOURCE Kerrisdale Capital Management, LLC