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- PTC Therapeutics' (PTCT +6.2%) announcement that it expects $700M-$750M in revenue this year is propelling shares higher.
- The company said preliminary 2021 results indicate net product revenue of $429M, a 29% increase from 2020.
- Nearly all of that -- $424M -- was due to PTC's Duchenne muscular dystrophy business, Translarna (ataluren) and Emflaza (deflazacort).
- Looking ahead to this year, the company says it expects results from a phase 3 study of Translarna are expected in mid 2022 and could support an NDA resubmission. PTC received a complete response letter back in 2017.
- PTC is also expecting results by the end of the year for a phase 3 study of PTC923 in patients with PKU.
- The company also expects to submit a BLA to the FDA for the gene therapy PTC-AADC in Q2 2022.
- In late October, PTC raised its full-year 2021 revenue guidance.