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PTC Therapeutics, Inc. (NASDAQ: PTCT) is a pioneering global biopharmaceutical company dedicated to discovering, developing, and commercializing orally-administered small-molecule therapeutics. The company is focused on post-transcriptional control processes in RNA biology, which are crucial for regulating protein synthesis and ensuring proper cellular function. PTC's innovative approach targets a range of therapeutic areas, including neuromuscular disorders, oncology, and infectious diseases, with a particular emphasis on treatments for orphan and ultra-orphan disorders.
One of PTC's notable achievements is the development of Translarna™ (ataluren), a treatment for nonsense mutation Duchenne muscular dystrophy (nmDMD). Despite a recent setback with the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) issuing a negative opinion, the European Commission has asked for a re-evaluation, keeping the medication available in Europe. This reflects the strong backing from the patient community and expert physicians who believe in its efficacy and safety.
The company’s robust product pipeline also includes Upstaza™ (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase (AADC) deficiency. This therapy has recently been submitted for review by the U.S. FDA and granted Priority Review status. Upstaza has shown transformative clinical benefits in clinical trials and compassionate use programs, demonstrating significant neurological improvements in patients.
Additionally, PTC is advancing sepiapterin for the treatment of phenylketonuria (PKU). The company's Marketing Authorization Application (MAA) for sepiapterin has been accepted by the EMA, with submissions planned in the U.S., Brazil, and Japan. Sepiapterin has demonstrated significant reductions in blood phenylalanine levels, offering a potential new treatment option for PKU patients who currently have limited therapeutic choices.
Financially, PTC has shown strong revenue performance and is well-positioned for future success. Recent financial results indicate a thriving operational status, supported by a diversified portfolio and strategic partnerships. The company's commitment to providing best-in-class treatments for rare disorders, combined with its global commercial infrastructure, underscores its strategy to maximize value for all stakeholders.
PTC's mission is to leverage its scientific and clinical expertise to bring innovative therapies to patients in need, ensuring access to treatments that can significantly improve quality of life. For more information, please visit their official website.
On February 26, 2021, PTC Therapeutics, Inc. (NASDAQ: PTCT) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) recommended approval of Evrysdi™ (risdiplam) for treating 5q spinal muscular atrophy (SMA) in patients aged 2 months and older. The decision follows accelerated assessment due to the drug's significance for public health. Evrysdi has already been approved in seven countries and is under review in 30 more. A final decision from the European Commission is anticipated in the next two months.
PTC Therapeutics (NASDAQ: PTCT) announced its financial results for Q4 and full year 2020, reporting total revenues of $380.8 million, up from $307 million in 2019. Key drivers included product revenues of $331 million from Translarna and Emflaza, with a 38% YoY growth in Emflaza. R&D expenses rose significantly to $477.6 million, reflecting investment in clinical trials and programs. The company holds $1.1 billion in cash. For 2021, PTC anticipates net product revenues between $355 million and $375 million and R&D and SG&A expenses of $825-$855 million.
PTC Therapeutics announced positive results from the pivotal FIREFISH study published in The New England Journal of Medicine, evaluating Evrysdi™ (risdiplam) for infants with symptomatic type 1 spinal muscular atrophy (SMA). The study showed significant improvements in survival and developmental milestones after 12 months, with 90% of infants alive without permanent ventilation. Despite some serious adverse events, the overall safety profile remains favorable. This study reinforces the therapeutic potential of Evrysdi in treating SMA, providing insight into its role in addressing unmet medical needs.
PTC Therapeutics (PTCT) announced the initiation of the second stage of the FITE19 clinical trial for PTC299, an oral investigational drug aimed at COVID-19 treatment. This phase follows a successful first stage, which involved 40 patients and an interim safety analysis. Approximately 340 participants will be enrolled in the second stage across multiple centers outside the U.S. PTC299 targets the enzyme dihydroorotate dehydrogenase (DHODH), potentially inhibiting viral replication and modifying inflammatory responses. The primary endpoint is to assess clinical efficacy compared to a placebo.
PTC Therapeutics, Inc. (NASDAQ: PTCT) announced its participation in several upcoming investor conferences, including the Raymond James 42nd Annual Institutional Investors Conference on March 2 at 7:30 a.m. ET, the Cowen 41st Annual Health Care Conference on March 4 at 10:30 a.m. ET, and the Barclays Global Healthcare Conference on March 10 at 9:10 a.m. ET. The presentations will be webcast live on PTC's website and archived for 30 days. PTC focuses on developing differentiated medicines for rare disorders, emphasizing its commitment to meeting unmet medical needs.
PTC Therapeutics, Inc. (NASDAQ: PTCT) will host a webcast conference call on February 25, 2021, at 4:30 p.m. (ET) to discuss its fourth quarter and year-end 2020 financial results. Investors can access the call by dialing (877) 303-9216 domestically or (973) 935-8152 internationally, using passcode 2174406. A live webcast will be available on PTC's investor relations website, with a replay accessible two hours post-call and archived for 30 days. PTC focuses on developing treatments for rare disorders, emphasizing a diversified pipeline.
PTC Therapeutics hosted a conference call on February 4, 2021, at 5:30 p.m. E.T. to discuss results from its clinical study 045 of Translarna™ (ataluren) for treating patients with nonsense mutation Duchenne muscular dystrophy. The call featured access via phone and a live webcast, both providing crucial insights into this rare genetic disorder. Duchenne muscular dystrophy leads to muscle weakness and fatal complications, primarily affecting males. Translarna focuses on restoring protein production in affected patients, currently licensed in the European Economic Area.
PTC Therapeutics (NASDAQ: PTCT) has launched the seventh annual STRIVE Awards program aimed at supporting Duchenne muscular dystrophy patient advocacy organizations. This year, a new category has been added to facilitate the transition of Duchenne patients from adolescence to adulthood. The awards emphasize the increasing life expectancy of Duchenne patients, now reaching their 30s and 40s, which highlights the need for enhanced quality of life support. The submission deadline is March 15, with winners announced in September 2021.
On January 6, 2021, PTC Therapeutics (NASDAQ: PTCT) approved inducement grants for 10 new employees, comprising 13,465 stock options and 4,665 restricted stock units (RSUs). These grants are part of the employee's compensation and comply with NASDAQ Listing Rule 5635(c)(4). The options have an exercise price of $66.49 and a 10-year term, vesting over four years. RSUs will also vest over four years with annual anniversaries. This initiative reflects PTC's commitment to attracting talent in the biopharmaceutical sector.
PTC Therapeutics (NASDAQ: PTCT) presented its R&D pipeline updates and commercial progress at the J.P. Morgan Healthcare Conference on January 11, 2021. Highlights from 2020 include a DMD franchise revenue of approximately $331 million, with significant contributions from Translarna and Emflaza. The company anticipates 2021 revenues between $355 and $375 million for the DMD franchise and plans to conduct several clinical trials. Preliminary financial results indicate approximately $1.1 billion in cash and equivalents by year-end 2020.
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