PTC Therapeutics Q1 2022 Earnings Report
Key Takeaways
PTC Therapeutics announced its Q1 2022 financial results, highlighted by a 26% year-over-year revenue increase to $148.7 million. The DMD franchise and Evrysdi royalties drove revenue growth. The company is advancing its clinical pipeline with the initiation of a Phase 2 trial for Huntington's disease and expects a CHMP opinion on its AADC gene therapy soon.
Total revenue reached $148.7 million, a 26% increase year-over-year.
DMD franchise revenue totaled $128 million, driven by Translarna and Emflaza.
Evrysdi royalties contributed $19 million to revenue.
PIVOT-HD Phase 2 study of PTC518 for Huntington’s disease was initiated.
PTC Therapeutics
PTC Therapeutics
PTC Therapeutics Revenue by Segment
Forward Guidance
PTC reaffirmed its 2022 financial guidance, expecting total revenues between $700 and $750 million and DMD franchise net product revenues between $475 and $495 million. GAAP R&D and SG&A expenses are projected to be between $915 and $965 million, while non-GAAP R&D and SG&A expenses are expected to range from $800 to $850 million.
Positive Outlook
- Total revenues for full year 2022 are anticipated to be between $700 and $750 million.
- Net product revenues for the DMD franchise for full year 2022 are anticipated to be between $475 and $495 million.
- Continued geographic expansion of Translarna.
- Continued addition of new Emflaza patients.
- Advancement of clinical pipeline
Challenges Ahead
- GAAP R&D and SG&A expenses for full year 2022 are anticipated to be between $915 and $965 million.
- Non-GAAP R&D and SG&A expense for full year 2022 are anticipated to be between $800 and $850 million, excluding estimated non-cash, stock-based compensation expense of $115 million.
- Risks in the development, regulatory approval and commercialization of new products.
- Uncertainties related to the COVID-19 pandemic.
- Dependence on regulatory approval in various territories.
Revenue & Expenses
Visualization of income flow from segment revenue to net income