Sahm Adrangi’s company, Kerrisdale Capital, released a unfavorable report on some of the recent findings of the Proteostasis Therapeutics, Inc. company. Proteostasis Therapeutics, Inc. (PTI) is a biopharmaceutical company that works to develop new drugs and test them clinically. PTI’s lead drug in development is called PTI-428. This drug is intended to treat the effects of cystic fibrosis by boosting the messenger RNA and proteins to the CFTR gene that is believed to cause these debilitating effects, effects which are eventually fatal.
In December, PTI released results from a trial that seemed to show the drug was working. The stock market responded to these findings with approximately a 100% jump in the company’s stock prices. The FDA even granted the drug a “breakthrough therapy” designation based on the report. Sahm Adrangi’s firm decided to take a closer look at the results of the trial. The trial seemed to show the effectiveness of the drug when it compared the test group and a placebo/control group. The report released by Sahm Adrangi’s firm, Kerrisdale Capital, said that the the test group didn’t exactly do unusually well, but that rather the control group under-performed. When compared to proper benchmarks, the drug actually had little to no effect. The unbalanced report issued by PTI is Phase 2 of testing. Their Phase 1 report showed much the same that Kerrisdale Capital found: no statistically-proven improvement.
Sahm Adrangi founded Kerrisdale Capital in 2009 and remains its Chief Financial Officer. In the past, his firm has exposed fraudulent findings from several Chinese medical companies. Sahm Adrangi’s reports have to lead to those companies receiving enforcement actions from the Securities and Exchange Commission.
Sahm Adrangi’s report concerning PTI said the company had “little value” and that there was a 70% – 90% downside to purchasing their stock. As seen with other companies in the past, PTI may become subject to enforcement and loss of stock value due to Kerrisdale Capital taking a second look.
On March 2016, Talk Fusion launched the full version of their Talk Fusion Video Chat app. The app uses WebRTC technology to enable users to communicate face-to-face from anywhere and can be downloaded from iTunes and Google Play Stores. The communication platform revolutionized cross-communication since it is compatible with several devices including desktops, smartphones, and tablet.
Communications Solutions Product of the Year Awards
Five months after the full version was launched, the Video Chat app was awarded the 2016 communications solutions products award. The award, which is presented by the Technology Marketing Corporation, is given as an honor to exceptional products and services in the communications industry. To be given the award, the product or service either must be new in the market and doing exceptionally well or have improved in terms of performance within the last twelve months.
The award was the second in a row Talk Fusion was receiving in 2016. TMC CEO Rich Tehrani acknowledged the good work Talk Fusion was doing and mentioned that the video chat app was the best in the market. Talk Fusion founder and CEO Bob Reina said the communications company was just getting started. He promised that the IT team would continue working hard and always stay ahead of the curve to provide All-in-One Video Marketing Solution.
The company’s Chief Technical Officer, Ryan Page, on the other hand, said the award was an indication of the effort Talk Fusion team was putting in their work. He also said the award signified the importance of their processes and that is how they managed to come up with an efficient application.
Within a span of one year, the company also managed to introduce their free trial WebRTC Recorder and launched their new website.
About Talk Fusion
Talk Fusion was founded by Bob Reina in 2007 and it became the first ever all-in-one Video Marketing Solution in the world. The company deals with the provision of marketing solutions to businesses by offering dynamic ways that make the entire marketing process easy.
By using video chats, Talk Fusion helps their customers make the marketing experience become memorable, more engaging and persuasive. The company operates in over 140 countries. If you wish to join their Video Marketing Solution, you are given a 30-day free trial with no credit card requirements.
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