Business
PTC Therapeutics Provides a Corporate Update and Reports Third Quarter 2021 Financial Results
- Total quarterly revenue of $139 million; 17% increase over third quarter 2020 - - Raises 2021 DMD franchise revenue guidance to $400-$420M from $370-$390M -
About this update from Ptc Therapeutics, Inc.
[{"type":"text","content":"- Total quarterly revenue of $139 million; 17% increase over third quarter 2020 -\n - Raises 2021 DMD franchise revenue guidance to $400-$420M from $370-$390M -\n - Continues to advance robust clinical pipeline by initiating a fifth registration-directed trial, APHENITY Phase 3 trial of PTC923 in phenylketonuria (PKU) -\n - Brazil achievements include Category 1 pricing for Tegsedi®, regulatory approval of Waylivra™ and expansion of the Translarna™ label to include patients as young as 2 years of age -\n\n\nSOUTH PLAINFIELD, N.J., Oct. 28, 2021 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced a corporate update and financial results for the third quarter ending September 30, 2021.\n\"The stellar growth of our DMD franchise is remarkable.\" said Stuart W. Peltz, Ph.D., Chief Executive Officer, PTC Therapeutics, Inc. \"I continue to be impressed by the team's performance. The commercial performance, along with the milestones achieved in Brazil, and the continued advancements in our pipeline, with initiating a fifth registration-directed trial, allows us continued value creation for all of our stakeholders.\"\nKey Third Quarter and Other Corporate Updates:\nThe Duchenne muscular dystrophy (DMD) franchise grew 39% over the third quarter of 2020, demonstrating PTC's continued strong commercial performance. Quarterly net product revenue for the franchise was $114 million in the third quarter of 2021. Translarna™ (ataluren) revenue growth was driven by geographic expansion and new patient identification. Emflaza® (deflazacort) revenue growth was driven primarily by new patient starts and maintained high compliance. Evrysdi™(risdiplam) continues to show strong global uptake. The first commercial sale of Evrysdi™ in Japan occurred in August 2021, resulting in a $10 million milestone payment from Roche to PTC with $325 million in sales-based milestones remaining. Evrysdi™ is a product of a collaboration between PTC, Roche and the SMA Foundation. Waylivra™ (volanesorsen) was approved by the Brazilian Health Regulatory Agency, ANVISA (Agência Nacional de Vigilância Sanitária), as the first treatment for familial chylomicronemia syndrome (FCS) in Brazil. Tegsedi® (inotersen) has successfully received Category 1 classification from CMED (Drug Market Regulation Chamber) in Brazil. Category 1 classification is given to inno...