March 28, 2017 3:48 AM ET

Biotechnology

Company Overview of Proteostasis Therapeutics, Inc.

Company Overview

Proteostasis Therapeutics, Inc., a biopharmaceutical company, develops therapeutics to treat protein conformational diseases. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class. The company is also developing PTI-NC-733, a novel combination therapy; and PTI-130 for the treatment of chronic obstructive pulmonary disease. It has strategic alliance with Biogen New Ventures Inc. to enhance the clearance of misfolded aggregation-prone proteins in neurodegenerative diseases, such as in Alzheimer’s and Parkinson’s disease; and Astellas Pharma Inc. to research, develop, and commercialize therapi...

200 Technology Square

4th Floor

Cambridge, MA 02139

United States

Founded in 2006

42 Employees

Phone:

617-225-0096

Key Executives for Proteostasis Therapeutics, Inc.

Chief Executive Officer, President and Director
Age: 44
Total Annual Compensation: $693.6K
Chief Medical Officer and Executive Vice President
Age: 47
Total Annual Compensation: $388.6K
Vice President of Intellectual Property & Legal Affairs
Age: 59
Total Annual Compensation: $246.8K
Compensation as of Fiscal Year 2015.

Proteostasis Therapeutics, Inc. Key Developments

Proteostasis Therapeutics, Inc. Announces Executive Changes

Proteostasis Therapeutics, Inc.'s Chief Financial Officer, James DeTore, provided notice of his resignation from the company, effective February 10, 2017, for personal reasons. Brett Hagen, the company's Controller and Principal Accounting Officer since May 2016, will assume certain of Mr. DeTore's duties on an interim basis. Prior to joining Proteostasis, Mr. Hagen served as a controller for BIND Therapeutics, Inc., Vice President, Finance/Segment Controller of Boston Private Financial Holdings, Manager of SEC Financial Reporting and Technical Account of The Princeton Review, Controller of BioProcessors Corporation and held a number of positions at PricewaterhouseCoopers LLP.

Proteostasis Therapeutics, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Proteostasis Therapeutics, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported, revenue of $1,715,000, loss from operations of $10,769,000, net loss of $10,771,000, net loss attributable to common stockholders of $10,771,000, compared to revenue of $1,201,000, loss from operations of $6,580,000, net loss of $7,050,000, net loss attributable to common stockholders of $9,335,000, for the same period a year ago. Net loss per share attributable to common stockholders-diluted was $0.54 against $16.77 a year ago. For the year to date, the company reported, revenue of $4,324,000, loss from operations of $27,856,000, net loss of $27,815,000, net loss attributable to common stockholders of $29,193,000, compared to revenue of $3,078,000, loss from operations of $18,212,000, net loss $19,409,000, net loss attributable to common stockholders of $15,368,000, for the same period a year ago. Net loss per share attributable to common stockholders-diluted was $1.75 against $28.05 a year ago.

Proteostasis Therapeutics Inc. Announces Board Appointments

Proteostasis Therapeutics, Inc. announced the appointment of Naimish Patel, M.D., C.M., and Elizabeth Tullis, M.D., FRCPC, to its clinical advisory board. Dr. Patel is currently a Project Leader in Respiratory, Inflammation and Autoimmunity iMED and Senior Medical Director for AstraZeneca Pharmaceuticals in Sweden. Dr. Tullis serves as Director of the Toronto Adult Cystic Fibrosis Clinic at St. Michael’s Hospital. The recent appointees will join a team of the cystic fibrosis experts. Alongside her role as Director of the Toronto Adult CF Clinic at St. Michael’s Hospital, Dr. Tullis serves as Professor of Medicine at the University of Toronto, the Respirology Division Head at St. Michael’s Hospital, and as an Adjunct Scientist at the Keenan Research Centre of Li Ka Shing Knowledge Institute. Dr. Patel joined AstraZeneca in September 2013 and has led early clinical development teams, as well as pre-clinical development teams identifying and developing compounds from target identification to Phase 1 to Phase 2b.

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