Proteostasis stock rises 22% on FDA designation, smaller-than-expected Q4 loss [MarketWatch]
PROTEOSTASIS THERAPEUTICS (PTI)
Last proteostasis therapeutics earnings: 3/10 04:36 pm
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US:NYSE Investor Relations:
ir.proteostasis.com/investor-overview
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Source: MarketWatch
Proteostasis stock rises 22% on FDA designation, smaller-than-expected Q4 loss Proteostasis Therapeutics Inc. PTI, +24.10% shares rose 22% in premarket trade Thursday after the company reported a smaller-than-expected fourth-quarter loss and said its cystic fibrosis drug had been granted orphan drug designation by the Food and Drug Administration. Orphan drug designation allows for seven years of marketing exclusivity along with federal grants, tax credits and waived administrative filing fees; the drug, PTI-428, previously received a breakthrough therapy designation as well. Also late Wednesday, the company reported a fourth-quarter loss of $13.4 million, compared with the FactSet consensus of a loss of $16.3 million. Its cash, cash equivalents and short-term investments came to $74.5 million as of the end of 2017, which the company expects will fund its expenses into early 2019. Proteostasis shares have surged 31.4% over the last three months to $6.56, compared with a 2.8% rise i
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