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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.
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 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.
- There are significant risks in the development, regulatory approval and commercialization of new products.
- The outcome of pricing, coverage and reimbursement negotiations with third-party payors for PTC's products or product candidates that PTC commercializes or may commercialize in the future.
- Dependence on Roche on Evrysdi sales.
- The company's strategy is to leverage its strong scientific expertise and global commercial infrastructure to maximize value for its patients and other stakeholders.
Revenue & Expenses
Visualization of income flow from segment revenue to net income