Proteostasis Therapeutics, Inc. (PTI) saw its loss widen to $9.42 million, or $0.38 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $5.63 million, or $13.95 a share.

Revenue during the quarter surged 229.01 percent to $4.06 million from $1.23 million in the previous year period.

Operating loss for the quarter was $9.60 million, compared with an operating loss of $6.32 million in the previous year period.

"Today, CFTR modulator triple combinations represent the greatest promise for delivering maximum efficacy for the vast majority of CF patients and have become the central focus in a rapidly evolving clinical landscape," said Meenu Chhabra, president and chief executive officer of Proteostasis Therapeutics. "Preclinical data suggest that Proteostasis’ proprietary triple combination solution of an amplifier (PTI-428), a corrector (PTI-801) and a potentiator (PTI-808) has the potential to demonstrate best-in-class efficacy because it is the only triple combination that addresses separate aspects of CFTR dysfunction in an entirely orthogonal manner from protein synthesis to processing to function. To realize this potential in an increasingly crowded clinical environment, we are pivoting our PTI-428 program to ex-U.S. Our goal is to establish efficacy for PTI-428 and PTI-801 in an Orkambi population, and thus start the proof of concept study for our triple combination by the end of the year."