PTC Therapeutics Q3 2022 Earnings Report
Key Takeaways
PTC Therapeutics announced a 57% year-over-year increase in total quarterly revenue, reaching $217 million. The company also increased its 2022 DMD revenue guidance and total revenue guidance, secured strategic financing with Blackstone, and continued to advance its pipeline of innovative compounds in clinical development.
Total quarterly revenue reached $217 million, a 57% increase year-over-year.
DMD franchise revenue grew, reaching $131 million, a 15% increase year-over-year.
Translarna revenue was $77 million, driven by new patients and geographic expansion.
Evrysdi milestone of $50 million from Roche was achieved due to surpassing annual net sales of $750 million.
PTC Therapeutics
PTC Therapeutics
PTC Therapeutics Revenue by Segment
Forward Guidance
PTC Therapeutics updated its full year 2022 financial guidance, anticipating total revenues between $710 and $750 million and DMD franchise net product revenues between $490 and $500 million.
Positive Outlook
- Total revenues for the full year 2022 are anticipated to be between $710 and $750 million.
- Net product revenues for the DMD franchise for the full year 2022 are anticipated to be between $490 and $500 million.
- GAAP R&D and SG&A expenses for the full year 2022 are expected to be between $925 and $965 million.
- Non-GAAP R&D and SG&A expense for the full year 2022 are projected to be between $810 and $850 million.
- Guidance reflects the company's confidence in continued growth and pipeline advancement.
Challenges Ahead
- The company faces risks and uncertainties related to the COVID-19 pandemic and response measures.
- Pricing, coverage, and reimbursement negotiations with third-party payors could impact financial results.
- The company's ability to maintain marketing authorization for Translarna in certain regions is subject to review.
- Clinical trials and regulatory submissions are subject to inherent risks and uncertainties.
- The company's financial performance is subject to various market, economic, political, and regulatory conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income