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Jun 30, 2022
PTC Therapeutics Q2 2022 Earnings Report
PTC Therapeutics reported strong revenue growth, expanded its product portfolio, and advanced its pipeline.
Key Takeaways
PTC Therapeutics reported a total revenue of $165.5 million for the second quarter of 2022, representing a 42% year-over-year growth. The company's Duchenne muscular dystrophy (DMD) franchise continued to show strong growth. Upstaza™ gene therapy was granted marketing authorization by the European Commission for the treatment of AADC deficiency.
Total revenue reached $166 million, a 42% increase year-over-year.
Duchenne muscular dystrophy (DMD) franchise revenue grew to $134 million, a 32% increase year-over-year.
Translarna™ revenue increased 46% year-over-year to $77 million.
Emflaza® revenue grew 16% year-over-year to $57 million.
Revenue by Segment
Forward Guidance
PTC anticipates total revenues for the full year 2022 to be between $700 and $750 million. PTC anticipates net product revenues for the DMD franchise for the full year 2022 to be between $475 and $495 million. PTC anticipates GAAP R&D and SG&A expense for the full year 2022 to be between $915 and $965 million. PTC anticipates Non-GAAP R&D and SG&A expense for the full year 2022 to be between $800 and $850 million, excluding estimated non-cash, stock-based compensation expense of $115 million.
Positive Outlook
- Total revenues for the full year 2022 are expected to be between $700 and $750 million.
- Net product revenues for the DMD franchise for the full year 2022 are projected to be between $475 and $495 million.
- GAAP R&D and SG&A expense for the full year 2022 are anticipated to be between $915 and $965 million.
- Non-GAAP R&D and SG&A expense for the full year 2022 are projected to be between $800 and $850 million, excluding stock-based compensation expense.
- Continued investment in research programs and advancement of the clinical pipeline.
Challenges Ahead
- Stock-based compensation expense is excluded from Non-GAAP R&D and SG&A expense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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