Sahm Adrangi is a man who likes to carry out his activities in the open and accountable manner and this has been demonstrated through his company Kerrisdale capital. The company recently released a report showing how Proteostasis’ recent cystic fibrosis study is an absolute Sahm Adrangi terms there study a ticking time bomb and something that is meant to dupe the public.
According to the report, Sahm Adrangi says that Proteostasis wants to make their research study look authentic when it is just a complete fraud. In the report, the data of the status of the lungs in four study patients showed there was a massive drop in terms of performance. The four patients represented a quarter of all those in the study which was conducted over a period of 28 days. This period was set so as to favor Proteostasis and for them to get the drug on the market quickly.
Further actual reports show that a 2.5% improvement was noted in the PTI-428 group whereas the group of patients who were used as the placebo worsened by almost 7%. The report further revealed that the PTI-428 group failed to raise the protein CFTR levels to the required levels even when the drug was used. Despite this, the company gave the results a blind eye states Adrangi’s Kerrisdale tea.
“Since the company does not have a lead drug it is now worth cash meaning there is a huge decline in value.” Kerrisdale capital team states.
Since the report was released, the company’s shares plummeted by 20% and more is expected in the coming days one’s Prothena’s data is released.
Sahm Adrangi is the founder and current chief investment officer at Kerrisdale Capital. Before establishing Kerrisdale in 2009, Adrangi worked for other companies including Chain Capital Partners, Longacre fund management, and Deutsche Bank. He holds an economics degree from the prestigious Yale University.