Sahm Adrangi Founded a company which deals with investments called Kerrisdale Capital Management. Before Sahm Adrangi came up with the company, he worked as an analyst at Longacre Fund Management. The company ventured into the market in 2009, and this made Sahm Adrangi become known widely especially in the banking sector where he exposed companies which engaged in fraud through his research.
The company headed by Sahm Adrangi recently published a negative report which explained the reason for its short position at Proteostasis Therapeutics Inc. The company is a biopharmaceutical company which is developing, and its market value is based entirely on PTI-428 which is a drug used for treating cystic fibrosis, and it is the lead drug being used for the disease.
The stock of Proteostasis increased by 100 per cent after the FDA organisation granted the company permission to put the drug out there in the market but according to analysis carried by Sahm and his team at Kerrisdale, the drug that is PTI-428 is rendered ineffective in the treatment of diseases.
The company also has a detail of low pattern in the quality data of the drug, and there are also several troubling omissions in the public disclosures of Proteostasis.Sahm had worked at Longacre which was a private investment partnership worth $1.2 billion in assets as at 2008, and it was allocated through an equity fund. Sahm Adrangi had specialised in conducting investment analysis and some research for the credit fund and also the equity fund.
Adrangi had also worked in a group which is restructuring from bankruptcy at Chanin Capital Partners. In the organisation, Sahm Adrangi used to educate creditors from certain bankruptcy restructurings. Some of his tasks included representing bondholder committees, bank debt holders and other creditors mostly from distressed or bankrupt companies.
The company chaired by Sahm has focused on sectors outside energy because energy prices keep declining and this may bring potential losses to the company. Kerrisdale Capital has been able to manage over $300 million, and it mainly focuses on long-term investments which have value and also specialises in event-driven occasions mostly the individual events. The company shares its ideas on finances with the broader investment community.