Sahm Adrangi and Kerrisdale Capital on the Proteostasis Therapeutics’ drug
Be introduced to 33-year-old Sahm Adrangi, the founder, and CIO of Kerrisdale Capital Management LLC which is a New York-based company. Kerrisdale Capital is an investment manager that is committed to long-term investments and shares its investment views with the more extensive investment community. He is a generalist who’s investments are value driven. Also, he has worked for Longacre Fund Management LLC, Chain Capital Partners, and Deutsche Bank’s leveraged finance investment banking. He attended the Yale University and received a bachelor of arts in economics.
Sahm Adrangi’s company, Kerrisdale Capital, issued a negative report on Proteostasis Therapeutics and announced a conference-call. Proteostasis Therapeutics is a clinical biopharmaceutical firm and their top drug, PTI-428, focuses on curing the genetic disorder cystic fibrosis. The firm claimed that the drug in some way increased the levels of the messenger RNA and protein consistent with the CFTR gene which malfunctions in people suffering from the disease thus resulting in fatal symptoms. Clinical data show that this drug is ineffectual.
The supposed success of the drug in its proof-of-concept trials emanates from the peculiar underperformance of the 4-person placebo group. Also, people taking the medication hardly improved. Sahm Adrangi and his company believe that the deception of the drug’s performance will fade away. Also, the drug wasn’t able to deliver convincing effectiveness results in a previous trial. Proteostasis had also planned to study on many matters, for example, the patient-reported health satisfaction, it is a mystery how the studies have never been discussed.
Sahm Adrangi’s company believes that Proteostasis has a tendency of doing away with disagreeable and unclear findings. A semi-independent team of researchers carried out an in vitro study on PTI-428, a study which produced alarmingly weak results. Proteostasis did not acknowledge this results. The drug does not work as projected and does to a limited degree anything of value in the world.