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PTC Therapeutics Gets First Milestone Payment for SMA Drug
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PTC Therapeutics, Inc. (PTCT - Free Report) announced that it received a $20-million milestone payment from Roche Holding AG (RHHBY - Free Report) under its license and collaboration agreement for its first commercial sale of Evrysdi (risdiplam) in the United States. Shares of PTC Therapeutics have lost 0.3% so far this year compared with the industry’s decline of 6.3%.
Evrysdi was approved by the FDA on Aug 7 for the treatment of spinal muscular atrophy (SMA) in adults and children 2 months of age and older. With the approval, the drug became the first at-home administered liquid medicine for people with SMA. SMA is a hereditary disease that causes weakness and muscle wasting because patients lose lower motor neurons (nerve cells) that control movement. The marketing authorization application (MAA) for Evrysdi for the treatment of SMA was accepted by the European Medicines Agency on Aug 18.
Evrysdi is a product of the SMA collaboration between PTC, the SMA Foundation and Roche. Roche leads the development of the drug.
However, competition is stiff in the SMA market from the likes of Biogen’s (BIIB - Free Report) Spinraza and Novartis’ (NVS - Free Report) gene therapy, Zolgensma.
PTC Therapeutics has a pipeline of gene therapy product candidates for rare monogenic diseases that affect the central nervous system (“CNS”) including PTC-AADC for the treatment of Aromatic L-Amino Acid Decarboxylase, (AADC) deficiency, a rare CNS disorder arising from reductions in the enzyme AADC thatresults from mutations in the dopa decarboxylase gene.
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PTC Therapeutics Gets First Milestone Payment for SMA Drug
PTC Therapeutics, Inc. (PTCT - Free Report) announced that it received a $20-million milestone payment from Roche Holding AG (RHHBY - Free Report) under its license and collaboration agreement for its first commercial sale of Evrysdi (risdiplam) in the United States. Shares of PTC Therapeutics have lost 0.3% so far this year compared with the industry’s decline of 6.3%.
Evrysdi was approved by the FDA on Aug 7 for the treatment of spinal muscular atrophy (SMA) in adults and children 2 months of age and older. With the approval, the drug became the first at-home administered liquid medicine for people with SMA. SMA is a hereditary disease that causes weakness and muscle wasting because patients lose lower motor neurons (nerve cells) that control movement. The marketing authorization application (MAA) for Evrysdi for the treatment of SMA was accepted by the European Medicines Agency on Aug 18.
Evrysdi is a product of the SMA collaboration between PTC, the SMA Foundation and Roche. Roche leads the development of the drug.
However, competition is stiff in the SMA market from the likes of Biogen’s (BIIB - Free Report) Spinraza and Novartis’ (NVS - Free Report) gene therapy, Zolgensma.
PTC Therapeutics has a pipeline of gene therapy product candidates for rare monogenic diseases that affect the central nervous system (“CNS”) including PTC-AADC for the treatment of Aromatic L-Amino Acid Decarboxylase, (AADC) deficiency, a rare CNS disorder arising from reductions in the enzyme AADC thatresults from mutations in the dopa decarboxylase gene.
PTC Therapeutics currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PTC Therapeutics, Inc. Price
PTC Therapeutics, Inc. price | PTC Therapeutics, Inc. Quote
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking. Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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