Private investment manager Kerrisdale Capital has published a report explaining why it shorted biopharmaceutical company, Proteostasis Therapeutics, Inc. It is considered a valuable investment because it has the current leading drug treatment for cystic fibrosis. After it was recognized by the FDA, its stock price skyrocketed 100%. All of that makes it look very positive, but Kerrisdale’s report details a pattern of low-quality data and troubling omissions in public disclosures. To fully release the details of its negative report, Kerrisdale hosted a conference call on Tuesday, March 20 at 10:30 am ET.
Those interested in taking part in the call were urged to dial (866) 834-3313 (United States) or (409) 981-0700 (international), they could directly contact Agnes Cao at email@example.com.
Kerrisdale Capital is led by its founder and CIO, Sahm Adrangi. He first made a name for himself managing over $2 billion in distressed funds for Longacre Fund Management LLC. He left in 2009 to found Kerrisdale. Sahm Adrangi founded the company with less than $1 million dollars and has led it to its current management of more than $150 dollars. He is also a widely recognized expert concerning misconceptions concerning specific companies. He first made a name for him doing this sort of thing by exposing fraud in Chinese companies in 2010 and 2011.
This was just the beginning. Sahm Adrangi has since done so many times in a variety of industries. He publishes his findings on the Kerrisdale website, Twitter, and miscellaneous other sites across the web. In past months Sahm Adrangi has focused his sights largely on the bioscience industry, particularly Bavarian Nordic, Sage Therapeutics, Zafgen, Unilife, and Pulse Biosciences. During this time he has also focused on the mining industry, specifically, First Majestic Silver and Northern Dynasty Minerals; and on the telecommunications industry, namely Globalstar, Dish Network, Straight Path Communications and ViaSat Inc.