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Mar 31, 2022
PTC Therapeutics Q1 2022 Earnings Report
PTC Therapeutics reported first quarter financial results with a total revenue of $148.7 million, representing a 26% year-over-year growth. The company initiated the PIVOT-HD Phase 2 trial of PTC518 in Huntington’s disease and anticipates CHMP opinion on AADC gene therapy in May.
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
Revenue by Segment
Translarna Revenue
CapyFin.comEmflaza Revenue
CapyFin.comDMD Franchise Revenue
CapyFin.com 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