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Proteostasis Therapeutics prices IPO at $8, below the range

February 11, 2016
PTI

Proteostasis Therapeutics, which is developing a protein modulator to treat cystic fibrosis, raised $50 million by offering 6.3 million shares at $8, below the range of $12 to $14. Proteostasis Therapeutics plans to list on the Nasdaq under the symbol PTI. Leerink Partners and RBC Capital Markets acted as lead managers on the deal.