Ptc Therapeutics Stock Price, News & Analysis

PTC Therapeutics has received authorization from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for Upstaza (eladocagene exuparvovec), the first gene therapy aimed at treating AADC deficiency. This rare disorder severely impacts motor development, posing life-threatening challenges. Upstaza has demonstrated clinical efficacy, allowing patients to achieve significant motor and cognitive milestones after treatment. This authorization follows a similar approval in the European Union, furthering PTC's commitment to innovative therapies for rare diseases.

PTC Therapeutics reported a 57% year-over-year revenue growth with total quarterly revenue of $217 million for Q3 2022. Key products: DMD revenue reached $131 million, with Translarna at $77 million and Emflaza at $55 million. The company secured strategic financing from Blackstone for up to $1 billion to support its pipeline. Despite growth, PTC recorded a net loss of $109.3 million and a significant decrease in cash equivalents to $288.4 million since 2021. Full-year revenue guidance increased to $710-$750 million.

PTC Therapeutics has entered a strategic financing collaboration with Blackstone, securing up to $500 million in funding to enhance its product pipeline and business development. This includes $350 million in low-cost capital at the close. The funds will help accelerate PTC's mission to deliver transformative medicines, with a goal of launching one therapy every 2-3 years. Blackstone's investment will be collateralized by PTC's existing products, including Translarna™ and Upstaza®. The collaboration aims to optimize capital structure and support new medicines.

PTC Therapeutics (NASDAQ: PTCT) has confirmed ongoing enrollment for its Phase 2 PIVOT-HD trial of PTC518, aimed at treating Huntington's disease. The 12-month study has received approval in several European countries and Australia, focusing on two dose levels: 5mg and 10mg. Enrollment began in the US but has paused due to FDA requests for additional data. There have been no treatment-related adverse events reported to date. PTC plans to share data from the initial 12-week study phase within the first half of 2023.

PTC Therapeutics, Inc. (NASDAQ: PTCT) will host a webcast conference call on October 27, 2022, at 4:30 p.m. ET to discuss its third quarter 2022 financial results and business updates. Participants can register for the call online to receive dial-in details and are advised to join 15 minutes early. A replay will be available approximately two hours after the call and can be accessed on the company's website for 30 days. PTC is focused on developing medicines for rare disorders, leveraging its scientific expertise and global commercial capabilities.

PTC Therapeutics, Inc. (NASDAQ: PTCT) announced it will present new data on Translarna™ (ataluren) at the 27th International Annual Congress of the World Muscle Society in Halifax, Nova Scotia, on October 12-14, 2022. Key presentations will highlight updated demographics and safety data, age at loss of ambulation, pulmonary function, and the efficacy of ataluren in patients with nonsense mutation Duchenne muscular dystrophy (nmDMD). Translarna is currently licensed in the European Economic Area for nmDMD treatment in ambulatory patients aged 2 and older, while being investigational in the U.S.

PTC Therapeutics (NASDAQ: PTCT) announced the recipients of its 2022 STRIVE Awards, supporting Duchenne Muscular Dystrophy initiatives. The program grants funds to four organizations: ACDM (Brazil) for educational rehabilitation, KASDER (Turkey) for expanding psychological services, MDA Hellas (Greece) for a film on sexuality, and Action Duchenne (U.K.) for skills training. This year, PTC received 40 applications, highlighting diverse needs in the Duchenne community. The STRIVE Awards enhance awareness and support for patients, aiming to provide a broader impact across four countries.

PTC Therapeutics (NASDAQ: PTCT) will present an overview at upcoming investor conferences: Wells Fargo's 17th Annual Healthcare Conference on Sept. 8 at 1:55 p.m. EDT and Morgan Stanley's 20th Annual Global Healthcare Conference on Sept. 12 at 4:15 p.m. EDT. These presentations will be available via live webcast on PTC's Investor page and archived for 30 days. PTC focuses on developing treatments for rare disorders, enhancing access to innovative medicines for patients with unmet medical needs.

PTC Therapeutics reported $166 million in total revenue for Q2 2022, marking a 42% year-over-year growth. The DMD franchise showed strong revenue performance with $134 million net product revenue, a 32% increase from the previous year. Notably, Upstaza™ gene therapy received marketing authorization from the European Commission, beginning its commercial rollout. However, the company faced a net loss of $152 million compared to $118 million in Q2 2021. PTC reaffirms its full-year guidance of $700-$750 million in total revenues.