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Jun 30, 2023
PTC Therapeutics Q2 2023 Earnings Report
PTC Therapeutics' second quarter results for 2023 were announced, featuring a 29% year-over-year revenue growth and advancements in clinical trials and regulatory milestones.
Key Takeaways
PTC Therapeutics reported a 29% year-over-year revenue growth in the second quarter of 2023, with total revenue reaching $213.8 million. The company saw positive data readouts from APHENITY and PIVOT-HD trials and anticipates several regulatory submissions in the second half of the year.
Total revenue for Q2 2023 reached $213.8 million, a 29% increase year-over-year.
DMD franchise revenue was $162 million, representing a 21% year-over-year growth.
Translarna revenue was $96 million, driven by new patients and geographic expansion.
Emflaza revenue was $66 million, driven by new patients and high compliance.
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 2023 to be between $940 million and $1.0 billion. PTC anticipates net product revenues for the DMD franchise for the full year 2023 to be between $545 and $575 million.
Positive Outlook
- Total revenues for the full year 2023 to be between $940 million and $1.0 billion.
- Net product revenues for the DMD franchise for the full year 2023 to be between $545 and $575 million.
- GAAP R&D and SG&A expense for the full year 2023 to be between $930 million and $980 million.
- Non-GAAP R&D and SG&A expense for the full year to be between $810 million and $860 million, excluding estimated non-cash stock-based compensation expense of $120 million.
- Up to $62 million of one-time expenses, paid in cash or equity ($37 million of which was incurred during the first half of 2023), upon achievement of potential clinical and regulatory success-based milestones from previous acquisitions and expenses associated with a rights exchange agreement.
Revenue & Expenses
Visualization of income flow from segment revenue to net income