Business
PTC Therapeutics Provides a Corporate Update and Reports Fourth Quarter and Full Year 2022 Financial Results
– 2022 total revenue of $699 million, representing 30% year-over-year growth, or $740 million and 37% growth at CER* – – Guidance for full-year 2023 total
About this update from Ptc Therapeutics, Inc.
[{"type":"text","content":"– 2022 total revenue of $699 million, representing 30% year-over-year growth, or $740 million and 37% growth at CER* –\n– Guidance for full-year 2023 total revenue of $940 million to $1 billion reaffirmed –\n– Four important study readouts expected in first half of 2023, three of them registration-directed –\nSOUTH PLAINFIELD, N.J., Feb. 21, 2023 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced a corporate update and financial results for the fourth quarter and full year ending December 31, 2022. \n\"2023 will be a very exciting year at PTC, including a celebration of our 25th anniversary,\" said Stuart W. Peltz, Ph.D., Chief Executive Officer, PTC Therapeutics, Inc. \"Together our marketed products grew 30% in revenue in 2022 despite significant foreign exchange headwinds. We expect our revenue growth to accelerate further in 2023, potentially reaching $1 billion in total revenue. We are also advancing a broad and deep pipeline of new therapies that we expect to provide substantial growth in the coming years.\" \nKey Corporate Updates: \n2022 total revenue of $699 million, representing 30% year-over-year growth, or $740 million when calculated at CER, representing a 37% growth2022 revenue for the Duchenne muscular dystrophy (DMD) franchise was $507 million, representing 20% year-over-year growth, or $539 million when calculated at CER, representing a 27% growth. The DMD franchise fourth quarter total net product revenue was $114 millionTranslarna™ (ataluren) total net product revenue was $56 million, with growth coming from new patients in existing geographies and continued geographic expansionEmflaza® (deflazacort) total net product revenue was $58 million, driven by new patient starts, broader access, continued high compliance, and appropriate weight-based dosingKey Clinical and Regulatory Updates: \nPTC continues to make progress in additional ongoing registration-directed clinical studies: The APHENITY Phase 3 trial of sepiapterin (PTC923) for PKU, with results anticipated in May 2023The MIT-E Phase 2/3 vatiquinone trial for mitochondrial disease associated seizures, with results anticipated in the second quarter of 2023The MOVE-FA Phase 3 vatiquinone trial for Friedreich ataxia, with results anticipated in the second quarter of 2023Enrollment in the PIVOT-HD Phase 2 trial of PTC518 for Huntington's dis...