Business
PTC Therapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Provides a Corporate Update
- $333 million 2020 total net product revenue representing 14% year-over-year growth - - Advancing multiple registration-directed clinical trials - - PTC518
About this update from Ptc Therapeutics, Inc.
[{"type":"text","content":"- $333 million 2020 total net product revenue representing 14% year-over-year growth -\n - Advancing multiple registration-directed clinical trials -\n - PTC518 healthy volunteer data expected in the first half of 2021 for Huntington disease program -\n - 2021 DMD franchise revenue guidance reaffirmed at $355-375 million -\n - Strong U.S. launch for Evrysdi™ with approvals in Europe and Japan expected in 2021 -\n\n\nSOUTH PLAINFIELD, N.J., Feb. 25, 2021 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced financial results for the fourth quarter and full year ending December 31, 2020 and provided a corporate update.\n\"Despite the challenges of the pandemic, PTC has been able to make significant progress in moving our pipeline forward and has been able to continue to bring therapies to our patients throughout 2020,\" said Stuart W. Peltz, Ph.D., Chief Executive Officer, PTC Therapeutics, Inc. \"I am very proud of our team and their abilities to execute on our 2020 goals even in such turbulent times. I am confident that we will continue to progress on our 2021 goals that will create value for all of our stakeholders.\"\nKey 2020 Corporate Highlights:\nStrong continued revenue growth for the DMD franchise, with total net product revenue of $331 million for Translarna™ (ataluren) and Emflaza® (deflazacort) in 2020. Translarna growth was driven by broader uptake due to new patients in existing geographies, geographic expansion and label updates. Emflaza experienced strong 38% year-over-year revenue growth in 2020 due to increased new prescriptions and high compliance. Evrysdi™ (risdiplam) was approved by the FDA in August 2020 for treatment of spinal muscular atrophy (SMA) patients aged 2 months and older. A strong global launch is under way, leading to increased patient uptake across all disease subtypes. Evrysdi is a product of a collaboration between PTC, Roche, and the SMA Foundation. PTC initiated five clinical trials in 2020, three of which are registration-directed clinical studies: The MIT-E Phase 2/3 trial with vatiquinone for mitochondrial epilepsy with data anticipated in the third quarter of 2022. The MOVE-FA Phase 3 trial with vatiquinone for Friedreich ataxia with data anticipated in 2023. The FITE19 Phase 2/3 clinical trial for PTC299 in patients with COVID-19. A healthy volunteer study for PTC857, th...