Proteostasis Therapeutics: Rises on merger with Yumanity Therapeutics

Kineta

24/08/2020 13:10

** Shares of drug developer  PTI.O  rise 9% to $1.41 in
premarket trade
    ** Co and Yumanity Therapeutics to merge to advance
Yumanity's pipeline of programs for neurodegenerative diseases
 urn:newsml:reuters.com:*:nPn5VpQ7ga
    ** Yumanity's lead drug candidate, YTX-7739, is currently in
early-stage trial for Parkinson's disease
    ** "We believe the combined company is well-positioned to
advance multiple programs into and through the clinic, including
Yumanity's lead candidate," says PTI CEO Meenu Chhabra
    ** Combined co to be under name of Yumanity Therapeutics 
    ** PTI shares have fallen 43% in value this year

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))