Ptc Therapeutics Stock Price, News & Analysis

PTC Therapeutics, Inc. (NASDAQ: PTCT) will host a webcast conference call on April 27, 2023, at 4:30 p.m. ET to report its first quarter 2023 financial results and provide an update on the company's business outlook. Participants can register for the call here. A replay will be available on the company's website shortly after the call and archived for 30 days. PTC focuses on developing medicines for rare disorders and aims to maximize value for patients and stakeholders through its robust pipeline.

PTC Therapeutics (NASDAQ: PTCT) announced on March 22, 2023, the approval of stock options for 58 new employees, totaling 58,465 shares, along with 29,710 restricted stock units (RSUs). These inducement grants were made to incentivize new hires and adhere to NASDAQ Listing Rule 5635(c)(4). Each stock option has an exercise price of $46.35, in line with the company's closing stock price on the grant date. The options vest over four years, with 25% vesting on the first anniversary. The RSUs also vest over four years, with 25% vesting on each annual anniversary. This strategic move is aimed at attracting top talent to enhance PTC's capabilities.

PTC Therapeutics (NASDAQ: PTCT) announced the retirement of founding CEO Stuart Peltz, Ph.D., effective immediately. He will transition to a Senior Consultant role. Chief Operating Officer Matthew Klein, M.D., has been appointed the new CEO and will also join the Board of Directors. Klein brings extensive experience from BioElectron and has been integral to PTC's development pipeline, which includes five ongoing clinical trials and EMA approval for its gene therapy, Upstaza. A conference call will discuss the leadership transition today, March 24, 2023, at 8:30 am ET.

PTC Therapeutics reported total revenue of $699 million for 2022, a 30% year-over-year growth, or $740 million at constant exchange rates, a 37% increase. The company reaffirmed its 2023 guidance, expecting total revenue between $940 million and $1 billion. Key products include the Duchenne muscular dystrophy franchise, generating $507 million, and new therapies advancing in clinical trials. Notably, net loss for Q4 2022 was $170.9 million, compared to $143.3 million in Q4 2021. Cash and marketable securities fell to $410.7 million from $773.4 million in 2021.

PTC Therapeutics, Inc. (NASDAQ: PTCT) announced its participation in three upcoming investor conferences. The events include the Raymond James 44th Annual Institutional Investor Conference on March 6 at 8:05 a.m. EST, the Cowen 43rd Annual Health Care Conference on March 7 at 12:50 p.m. EST, and the Barclays Global Healthcare Conference on March 14 at 8:00 a.m. EST. Each presentation will be webcast live and archived on the company's Events and Presentations page for 30 days. PTC specializes in developing innovative medicines for rare disorders.