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Sep 30, 2020
PTC Therapeutics Q3 2020 Earnings Report
PTC Therapeutics reported Q3 2020 financial results with a 66% year-over-year increase in total revenue and highlighted the progress of Evrysdi and the Duchenne muscular dystrophy franchise.
Key Takeaways
PTC Therapeutics reported a strong third quarter with total revenue of $118.4 million, a 66% increase year-over-year. The growth was driven by the U.S. launch of Evrysdi and continued growth in the Duchenne muscular dystrophy franchise. The company also initiated a registration-directed trial for mitochondrial epilepsy.
Evrysdi made rapid progress with multiple international approvals and a strong U.S. launch.
Total net revenue reached $118.4 million, a 66% year-over-year increase.
Total net product revenue was $82.7 million, a 16% year-over-year increase.
A registration-directed trial with vatiquinone (PTC743) for mitochondrial epilepsy was initiated.
Revenue by Segment
Forward Guidance
The press release contains forward-looking statements regarding PTC's future expectations, plans, and prospects, including clinical trials, regulatory submissions, commercialization, and financial performance. These statements are subject to risks and uncertainties.
Positive Outlook
- Future expectations, plans and prospects for PTC, including with respect to the expected timing of clinical trials and studies, availability of data, regulatory submissions and responses and other matters
- Expectations with respect to PTC's gene therapy platform, including any potential regulatory submissions and manufacturing capabilities
- Advancement of PTC's joint collaboration program in SMA, including any potential regulatory submissions, commercialization or royalty or milestone payments
- PTC's expectations with respect to the licensing, regulatory submissions and commercialization of its products and product candidates
- Expectations with respect to the impacts of the COVID-19 pandemic and related response measures; PTC's strategy, future operations, future financial position, future revenues, projected costs; and the objectives of management
Challenges Ahead
- 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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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