Proteostasis Therapeutics, Inc., a biopharmaceutical company, engages in the discovery and development of novel therapeutics that treat diseases caused by dysfunctional protein processing, such as cystic fibrosis. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class that is in Phase-I studies. The company is also developing PTI-801, a corrector molecule; PTI-808, a potentiator molecule; and unfolded protein response (UPR) modulators that are in preclinical development. It has collaboration with Astellas Pharma, Inc. to research and identify therapies targeting the Unfolded Protein Response (UPR) pathway. The company was formerly known as Proteoguard, Inc. and changed its name to Proteostasis Therapeutics, Inc. in September 2007. Proteostasis Therapeutics, Inc. was founded in 2006 and is headquartered in Cambridge, Massachusetts.
Shares of Proteostasis Therapeutics Inc. PTI, +56.23% rocketed 70% toward an 11-month high in very active morning trade Tuesday, after the biopharmaceutical company said it cystic fibrosis treatment was granted Breakthrough Therapy Designation (BTD) by the Food and Drug Administration.
