Business
PTC Therapeutics Reports First Quarter 2020 Financial Results and Provides a Corporate Update
- Risdiplam demonstrated clinically meaningful and statistically significant results across broadest population of spinal muscular atrophy (SMA) patients
About this update from Ptc Therapeutics, Inc.
[{"type":"text","content":"- Risdiplam demonstrated clinically meaningful and statistically significant results across broadest population of spinal muscular atrophy (SMA) patients studied to date; PDUFA date August 24, 2020 -\n - PTC provides an update on clinical and regulatory programs -\n - First quarter 2020 total revenues were $68.3 million, 27% year over year growth -\n\n\nSOUTH PLAINFIELD, N.J., April 30, 2020 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced a corporate update and reported financial results for the first quarter ending March 31, 2020. \n\"PTC continued to execute on our strategic priorities including the development and commercial fronts in the first quarter highlighted by DMD franchise revenue growth and strong risdiplam results,\" said Stuart Peltz, Ph.D., CEO of PTC Therapeutics. \"The breadth of positive clinical risdiplam data reinforces the global commercial competitive profile of this therapy, which has the potential to be the first and only at-home SMA treatment, a critical advantage in the COVID-19 environment. We look forward to a number of potential value-creating catalysts including the risdiplam PDUFA date, and multiple clinical milestones in the upcoming months.\" \nKey First Quarter and Other Corporate Updates: \nTotal net product revenues were $68.2 million across our commercial portfolio in the first quarter of 2020 representing 28% year over year growth. Translarna™ (ataluren) net product revenues were $40.5 million for the first quarter of 2020 and Emflaza® (deflazacort) net product revenues were $27.5 million for the first quarter of 2020. PTC announced the appointments of Matthew Klein, M.D., to Chief Development Officer and Eric Pauwels to Chief Business Officer. Due to the uncertainty of the duration and severity of the COVID-19 impact, PTC is withdrawing financial guidance for the 2020 fiscal year.Compelling Data Across Patients with Type 1, 2 & 3 SMA \nThe FIREFISH Part 2 data in type 1 Spinal muscular atrophy (SMA) patients demonstrated achievement of motor milestones and motor function improvements not observed in natural history. The study met its primary endpoint (p","length":2676,"tagName":"div"}]