Shares of Qorvo Inc (NASDAQ:QRVO) ended Friday session in red amid volatile trading. The shares closed down -2.95 points or -5.32% at $52.48 with 127.90 million shares getting traded. Post opening the session at $55.00 the shares hit an intraday low of $52.43 and an intraday high of $55.31 and the price vacillated in this range throughout the day. The company has a market cap of $6.53 billion and the numbers of outstanding shares have been calculated to be 127.90 million shares.
Qorvo Inc (QRVO) on Sept. 07, 2016 announced that its Low Power Wireless business unit (formerly GreenPeak Technologies) is the first in the industry to receive the ZigBee 3.0 certification for its smart home gateway platform. A certified ZigBee 3.0-ready platform enables software developers to quickly integrate the standard into their smart home applications.
ZigBee 3.0 combines the best capabilities of the existing ZigBee smart home profiles in a single unified protocol. It also includes ZigBee Green Power, which supports battery-less, energy harvesting devices. ZigBee 3.0 facilitates communication and interoperability among a wide variety of smart devices for home automation, light control, building automation, retail services, health care and telecommunication services.
“Certified platforms are important tools for ZigBee 3.0 developers,” says Lee Ratliff, principal analyst for connectivity and IoT at IHS Markit. “Platforms such as this allow more companies to participate in the ZigBee ecosystem by reducing complexity and shortening time-to-market for developers. This is especially important for the newly revised ZigBee 3.0 standard which helps address the pent-up demand from developers eager to introduce compliant products.”
Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) ended Friday session in red amid volatile trading. The shares closed down -0.72 points or -5.39% at $12.64 with 19.18 million shares getting traded. Post opening the session at $13.05 the shares hit an intraday low of $12.29 and an intraday high of $13.20 and the price vacillated in this range throughout the day. The company has a market cap of $229.41 million and the numbers of outstanding shares have been calculated to be 19.18 million shares.
Proteostasis Therapeutics Inc (PTI) on Aug. 11, 2016 announced a mid-year corporate update highlighting the company’s continued progress and expansion of clinical programs and path forward to reach anticipated milestones.
Proteostasis Therapeutics’ lead drug candidate is PTI-428. It is the first genotype-agnostic, disease-modifying agent to be tested in the clinic for cystic fibrosis. PTI-428 is a unique modulator (amplifier) of the Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) protein that has shown a consistent positive effect on CFTR mRNA and protein activity in vitro and in pre-clinical studies when used in combination with existing treatments.
Proteostasis Therapeutics is currently enrolling eligible adults in two ongoing Phase 1 clinical trials with PTI-428. The first trial is in cystic fibrosis patients with any CFTR mutation, and the second trial is in normal healthy volunteers.
Preliminary data in healthy volunteers suggest a dose-linear pharmacokinetic drug profile that supports once-a-day dosing. Data from 24 healthy volunteers confirmed the expected and dose-dependent relationship between PTI-428 exposure and the magnitude of CFTR mRNA increase. A single dose of PTI-428 can increase CFTR mRNA expression by approximately two-fold in those healthy volunteers. No safety concerns have been identified to date based on reviews of vital signs, clinical exams and hematology lab values. In vitro and in vivo animal studies with PTI-428 have shown that a two-fold increase in CFTR mRNA may lead to a potential doubling of lung function improvement on top of the existing standard-of-care therapies.
“This is an incredibly exciting and unprecedented time in CF drug development. Never before have there been 59 cystic fibrosis clinical studies ongoing simultaneously in the U.S. Given this effective traffic jam at the cystic fibrosis clinical centers, we have experienced slightly longer than anticipated site start-up times. Now, with a critical mass of sites up and running, coupled with the high level of enthusiasm from our investigators about the unique profile of our drug, we remain on track with our original schedule to generate topline efficacy by year end,” said Meenu Chhabra, president and chief executive officer of Proteostasis Therapeutics. “We have made significant progress across our cystic fibrosis pipeline where we have collected initial clinical data with PTI-428. In addition, we have declared two new clinical candidates: PTI-801, a “turbocorrector,” and PTI-808, a potentiator, as part of our planned triple combination therapy. We expect to file INDs for these two programs by year end.”