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Dec 31, 2020
PTC Therapeutics Q4 2020 Earnings Report
PTC Therapeutics reported its Q4 and full year 2020 financial results and provided a corporate update.
Key Takeaways
PTC Therapeutics reported total revenues of $118.9 million for the fourth quarter of 2020, compared to $96.5 million for the fourth quarter of 2019. Total revenues were $380.8 million for the full year 2020, compared to $307.0 million for the full year 2019. Net loss was $74.4 million for the fourth quarter of 2020, compared to net loss of $77.7 million for the fourth quarter of 2019.
Total revenues were $118.9 million for the fourth quarter of 2020.
Net product revenue for Q4 2020 was $107.3 million.
GAAP R&D expenses were $118 million for the fourth quarter of 2020.
Cash, cash equivalents, and marketable securities was $1.1 billion at December 31, 2020.
PTC Therapeutics
PTC Therapeutics
PTC Therapeutics Revenue by Segment
Revenue by Segment
Translarna Revenue
CapyFin.comEmflaza Revenue
CapyFin.com Forward Guidance
PTC reaffirmed its full year 2021 guidance.
Positive Outlook
- PTC anticipates net product revenues for the DMD franchise for the full year 2021 to be between $355 and $375 million.
- PTC anticipates GAAP R&D and SG&A expense for the full year 2021 to be between $825 and $855 million.
- PTC anticipates Non-GAAP R&D and SG&A expense for the full year 2021 to be between $725 and $755 million, excluding estimated non-cash, stock-based compensation expense of $100 million.
- Results from Phase 1 healthy volunteer study of PTC518 for Huntington disease program from the splicing platform are expected in the first half.
- Data from the healthy volunteer study for PTC857 are expected in the first half.
Challenges Ahead
- There are significant risks in the development, regulatory approval and commercialization of new products.
- There are no guarantees that any product will receive or maintain regulatory approval in any territory.
- There are no guarantees that any product will prove to be commercially successful, including Translarna, Emflaza, Evrysdi, Tegsedi, Waylivra or PTC-AADC.
- 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.
- Expectations with respect to PTC's gene therapy platform, including any regulatory submissions and potential approvals, manufacturing capabilities and the potential financial impact and benefits of its leased biologics manufacturing facility and the potential achievement of development, regulatory and sales milestones and contingent payments that PTC may be obligated to make.
Revenue & Expenses
Visualization of income flow from segment revenue to net income