Sahm Adrangi and Kerrisdale Capital are widely known in the investment world for their ability to successfully pick companies on a value basis in which to short. Over the years, Sahm Adrangi has picked quite a few pharmaceutical companies to short whose products were in the testing phases. These medications and treatments were all being marketed in a misleading way that implied a much higher level of success in treatment than actually existed.
Proteostasis Pharmaceuticals is the newest company that Sahm Adrangi has set his sites on and is encouraging others to do the same. The main drug being developed by Proteostasis is known as PTI-428 and it is being developed for the treatment of the devastating disease of cystic fibrosis. Unfortunately for the patients that suffer from the disease, Sahm Adrangi doesn’t believe that the drug shows much promise to improve their condition in any significant way.
Sahm Adrangi and Kerrisdale perform their own research on the companies that they are planning on investing in, or against. When researching the drug being tested by Proteostasis, they found that it is most likely almost completely ineffective for the treatment of the disease. The data that was released by Proteostasis was very low-quality and omitted many important things.
When the Food and Drug Administration gave the medication an “orphaned drug” status, the stock of the company almost doubled. This status is granted to drugs that are being developed for diseases with very few treatment options available. It allows these medications to be fast-tracked for approval. While this is a great program for medications that are truly effective in helping the patients with these hard to treat diseases, it can sometimes lead to companies releasing information that is less than accurate to investors and the public.
This news is not only disappointing for those who invested in the success of the drug that is still in testing phases, but also to the patients that were tracking its progress in hopes to treat their debilitating illness. Kerrisdale expects the stocks to drop after the next round of testing data is released. If so, they will benefit from the drop in price.
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Robert Deignan is the co founder and Chief Executive Officer of ATS Digital Services. ATS Digital Services is a company that can support every single one of your digital support needs. From a faulty network connection, to a slow home computer, ATS Digital Services is there to help you, and that is all because Robert Deignan had the guts and put in the hard work to create the company.
Deignan attended Purdue University from 1992 to 1995 and graduated with a Bachelors of Science in Business Management and Organizational Leadership. After graduating, he realized that his dream was to be a business owner and entrepreneur. With that in mind, he put his head down and started working hard. He needed that real world experience if he wanted a well rounded education.
He had a dream, and he knew he had to work to achieve it, so he got his hands dirty, and started learning what it took to make a successful business. Only three years after graduating, Robert Deignan co founded his very first business, Fanlink. After only another three years at Fanlink, he moved on to iS3 becoming their Executive Vice President. Both these companies had a passion for technology, and helped Deignan round out his knowledge even further.
In August of 2011, Robert Deignan helped co found ATS Digital Services LLC, and became its Chief Executive Officer. He used his experience as a vice president, and his previous knowledge of founding a company, to help get ATS Digital Services off the ground, and running.
Deignan has almost twenty years of technology business experience that he puts in ATS Digital Services everyday. The idea for the business came from a couple different places. Part of the inspiration was his previous work at an Anti-Malware Software Company, where the company ran into technical issues, and solved it through excellent customer service. When he moved on from this company, Robert Deignan realized that utilizing remote connection technology to provide digital support to customers, was a great opportunity to fill a gap in the market. It would help customers, and their business.