Proteostasis Therapeutics IPO

2/12/2016

IPO

$50,400,000

We anticipate that we will use the net proceeds received by us in this offering, together with our existing cash and cash equivalents, as follows: approximately $16 million to advance PTI-428 as a treatment for CF into a Phase 1 clinical trial and through the completion of the Phase 2 clinical trial; approximately $18 million to continue to advance and to expand our research and development of our product candidates in CF and other indications and for the Usp14 and UPR programs; and the remainder for working capital and other general corporate purposes, which will include funding for the hiring of additional personnel, capital expenditures and the costs of operating as a public company.To the extent that our actual net proceeds from this offering are insufficient to fund this allocation, we intend to prioritize expenditures related to our working capital needs and advancing PTI-428 into Phase 1 and Phase 2 clinical trials.

Publicly-held

Biopharmaceutical

80 Guest St. 5th Floor
Boston, MA 02135
USA

Proteostasis Therapeutics (NASDAQ: PTI) is discovering and developing novel small molecule therapeutics designed to control the body's Proteostasis Network, which maintains the body's natural protein homeostasis to protect us from numerous diseases.