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Jun 30
PTC Therapeutics Q2 2025 Earnings Report
PTC Therapeutics reported a decrease in total revenue and net loss for the second quarter of 2025, driven by lower net product revenue but offset by increased royalty and collaboration revenue. The company also highlighted the approval and global launch of Sephience™.
Key Takeaways
PTC Therapeutics experienced a decline in total revenue to $178.9 million in Q2 2025 compared to the previous year, primarily due to reduced net product sales of Translarna and Emflaza. However, the company significantly narrowed its net loss to $64.8 million and reported strong cash and cash equivalents, bolstered by the recent approvals and global launch of Sephience™.
Total revenue for Q2 2025 was $178.9 million, a decrease from $186.7 million in Q2 2024.
Net loss for Q2 2025 significantly improved to $64.8 million, compared to a net loss of $99.2 million in Q2 2024.
The DMD franchise generated $96 million in revenue, with Translarna at $59 million and Emflaza at $36 million.
Sephience™ received European and FDA approval with broad labeling for PKU, and its global launch is underway.
PTC Therapeutics
PTC Therapeutics
PTC Therapeutics Revenue by Segment
Revenue by Segment
Translarna Revenue
CapyFin.comEmflaza Revenue
CapyFin.comDMD Franchise Revenue
CapyFin.comEvrysdi Royalty Revenue
CapyFin.comNet Product Revenue
CapyFin.comCollaboration and License Revenue
CapyFin.comRoyalty Revenue
CapyFin.com Forward Guidance
PTC Therapeutics anticipates full-year 2025 revenue to be between $650 million and $800 million. Full-year GAAP R&D and SG&A expenses are projected to be between $805 million and $835 million, with non-GAAP R&D and SG&A expenses between $730 million and $760 million.
Positive Outlook
- Anticipated full-year 2025 revenue range of $650 million to $800 million, including in-line products, new launches, and Evrysdi royalty.
- Global launch of Sephience™ is underway, expected to be a foundational product for future growth.
- Ongoing NDA reviews for vatiquinone and Translarna (nonsense mutation DMD) with potential regulatory actions.
- Positive Phase 2 PIVOT-HD study results for votoplam in Huntington's Disease patients.
- Collaboration with Novartis on votoplam and plans to discuss Phase 3 clinical trial design with FDA.
Challenges Ahead
- Projected full-year GAAP R&D and SG&A expenses are substantial, ranging from $805 million to $835 million.
- The company continues to operate at a net loss, despite improvements in the current quarter.
- Translarna's marketing authorization in some regions and the effect of negative opinions from regulatory bodies remain risks.
- Uncertainty regarding the outcome of pricing, coverage, and reimbursement negotiations for products.
- Significant risks in the development, regulatory approval, and commercialization of new products, with no guarantees of commercial success.
Revenue & Expenses
Visualization of income flow from segment revenue to net income