Proteostasis Therapeutics shares down 8% after proposed share offering
Shares of Proteostasis Therapeutics Inc. fell more than 8% in the late session Tuesday after the company said it plans to sell 7 million shares of its common stock. Underwriters will have a 30-day option to buy up to 1.05 million additional shares, the company said. Proteostasis on Monday announced positive results on three trials of drugs aimed at cystic fibrosis treatments, lifting shares earlier Tuesday. Proteostasis' shares ended the regular Tuesday session up 161%. The shares are down 50% this year, compared with gains of 19% for the S&P 500 index.
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