H.C. Wainwright analyst Andrew Fein says it was his hope that the Proteostasis (PTI) compounds would generate a 10 ppFEV1 improvement and provide either a legitimate competitor for Vertex (VRTX) or identification of molecules that could serve as possible add-ons to other shelved or early development modulators. Factually, none of the dose cohorts measured at either seven-day or 14-days after treatment generated a 10 ppFEV1 improvement, Fein tells investors in a research note. However, due to the complete lack of any competition to the Vertex "strangle-hold" on the cystic fibrosis landscape as well as the "apparent if not overwhelming desire," at least outside of the U.S., for a second option, the Proteostasis regiments warrant further investigation, says the analyst. He believes yesterday's data may provide an opportunity in more severe cystic fibrosis patients. Fein keeps a Buy rating on Proteostasis with a $15 price target. The stock closed yesterday down 68%, or $2.76, to $1.31.

Vertex Pharmaceuticals and TreeFrog Therapeutics announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-Stem, to optimize production of Vertex's cell therapies for type 1 diabetes, or T1D. TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies. TreeFrog's proprietary technology platform, C-Stem, is designed to mimic the natural microenvironment, allowing cells to grow exponentially in 3D. The technology will enhance Vertex's ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.