BOSTON, June 25, 2018 /PRNewswire/ -- Proteostasis
Therapeutics, Inc. (NASDAQ: PTI), a clinical stage
biopharmaceutical company dedicated to the discovery and
development of groundbreaking therapies to treat cystic fibrosis
(CF) and other diseases caused by dysfunctional protein processing,
announced that the Company's stock was added to the Russell
3000® Index when the Russell Investment Group reconstituted
its family of U.S. indexes following market close on June 22, 2018.
"Inclusion in the Russell 3000 Index increases liquidity and
raises visibility for PTI among a broader group of investors at a
time where we anticipate reaching multiple clinical milestones for
our novel cystic fibrosis transmembrane conductance regulator
(CFTR) modulators," said Meenu Chhabra, President and
Chief Executive Officer of Proteostasis. "This includes initiating
a clinical study of our once-a-day CFTR modulator triplet regimen
in CF subjects, reporting updated data from an ongoing clinical
study of PTI-801 on a background standard of care therapy, as well
as initial data from our ongoing doublet study followed by results
from our triplet study, all later this year."
Annual Russell U.S. indexes reconstitution captures the 4,000
largest US stocks as of May 11, 2018,
ranking them by total market capitalization. Membership in the
Russell 3000 Index, which remains in place for one year, means
automatic inclusion in the large-cap Russell 1000 Index or
small-cap Russell 2000 Index as well as appropriate growth and
value style indexes. FTSE Russell determines membership for
its Russell US Indexes primarily by objective,
market-capitalization rankings and style attributes.
Russell U.S. Indexes are widely used by investment managers and
institutional investors as the basis for index funds and as
benchmarks for active investment strategies. Approximately
$9.0 trillion in assets are
benchmarked against Russell US Indexes. Russell U.S. Indexes
are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000 Index and the Russell
U.S. Indexes reconstitution, go to the "Russell Reconstitution"
section on the FTSE Russell website
at www.ftserussell.com.
About Proteostasis Therapeutics, Inc.
Proteostasis Therapeutics, Inc. is a clinical stage
biopharmaceutical company developing small molecule therapeutics to
treat cystic fibrosis and other diseases caused by dysfunctional
protein processing. Headquartered in Boston, MA,
the Proteostasis Therapeutics team focuses on identifying
therapies that restore protein function. In addition to its
multiple programs in cystic fibrosis, Proteostasis
Therapeutics has formed a collaboration with Astellas Pharma,
Inc. to research and identify therapies targeting the Unfolded
Protein Response (UPR) pathway. For more information, visit
www.proteostasis.com.
Safe Harbor
To the extent that statements in this release are not historical
facts, they are forward-looking statements reflecting the current
beliefs and expectations of management made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Words such as "aim," "may," "will," "expect,"
"anticipate," "estimate," "intend," and similar expressions (as
well as other words or expressions referencing future events,
conditions or circumstances) are intended to identify
forward-looking statements. Examples of forward-looking
statements made in this release include, without limitation,
statements regarding expected presentations and expected timing of
the initiation of, patient enrollment in, data from, and the
completion of, our clinical studies and cohorts for our clinical
programs. Forward-looking statements made in this release
involve substantial risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements, and we, therefore cannot assure you
that our plans, intentions, expectations or strategies will be
attained or achieved. Such risks and uncertainties include,
without limitation, the possibility final or future results from
our drug candidate trials (including, without limitation, longer
duration studies) do not achieve positive results or are materially
and negatively different from or not indicative of the preliminary
results reported by the Company (noting that these results are
based on a small number of patients and small data set),
uncertainties inherent in the execution and completion of clinical
trials (including, without limitation, the possibility that
FDA comments delay, change or do not permit trial
commencement, or intended label, or the FDA requires us
to run cohorts sequentially or conduct additional cohorts or
pre-clinical or clinical studies), in the enrollment of CF patients
in our clinical trials in a competitive clinical environment, in
the timing of availability of trial data, in the results of the
clinical trials, in possible adverse events from our trials, in the
actions of regulatory agencies, in the endorsement, if any, by
therapeutic development arms of CF patient advocacy groups (and the
maintenance thereof), and those set forth in our Quarterly Report
on Form 10-Q for the quarter ended March 31, 2018 and our
other SEC filings. We assume no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACTS:
Investors:
David
Pitts
Argot Partners
212.600.1902
david@argotpartners.com
Media:
David Rosen
Argot Partners
212.600.1902
david.rosen@argotpartners.com
View original
content:http://www.prnewswire.com/news-releases/proteostasis-added-to-the-russell-3000-index-300671387.html
SOURCE Proteostasis Therapeutics, Inc.