Proteostatis stock plunges on cystic fibrosis triple combo data

Shares of Boston biotech Proteostasis Therapeutics Inc. sank roughly 60 percent Monday after the company released new data for its triple combination cystic fibrosis treatment that puts it behind competitor Vertex Pharmaceuticals. Pre-commercial company Proteostasis (Nasdaq: PTI) is hoping to gain a foothold in the cystic fibrosis field, which is currently dominated by Vertex (Nasdaq: VRTX). It is currently developing a handful of drugs for the rare lung disorder, including a combination of its…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news