Healthcare stock under pressure: PTC Therapeutics, Inc. (NASDAQ: PTCT)

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PTC Therapeutics, Inc. (NASDAQ: PTCT) stock lost over 0.2% on March 3rd, 2020 (as of 10:36 am GMT-5; Source: Google finance) after the company posted mixed results for the fourth quarter of FY 19. The company has reported the net loss was $77.7 million for the fourth quarter of 2019, compared to net loss of $48.3 million for the fourth quarter of 2018. The company has generated cash, cash equivalents, and marketable securities of $686.6 million at December 31, 2019, compared to $227.6 million at December 31, 2018.

PTCT in the fourth quarter of FY 19 has reported the adjusted loss per share of $1.15, missing the analysts’ estimates for the adjusted loss per share of 53 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 35.9 percent to $96.46 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue by 8.68%. Translarna net product revenues had fallen to $48.4 million for the fourth quarter of 2019, compared to $56 million for the fourth quarter of 2018. Emflaza net product revenues had risen to $32.7 million for the fourth quarter of 2019, compared to $29.8 million for the fourth quarter of 2018.

For fiscal 2020, the company expects DMD franchise net product revenues to be in the range of $320 and $340 million and expects Non-GAAP R&D and SG&A expense for the full year 2020 to be to be in the range of $545 and $575 million, excluding estimated non-cash, stock-based compensation expense of approximately $65 million.

Meanwhile, the company has recently presented the full results from the successful SUNFISH part 2 pivotal trial. This trial enrolled the broadest population of type 2 and 3 SMA patients every study and more closely reflects the type of patients that physicians typically see in practice. The company has recently announced successful top line results from the pivotal FIREFISH study in type 1 SMA patients. This trial met its primary endpoint and was statistically significant. The complete results from FIREFISH part 2 will be presented at AAN in late April. Therefore, the company expects MAA filing with the EMA next quarter and look forward to the coming PDUFA date on May 24.

Moreover, in pre-clinical studies, the company’s Huntington’s disease development candidate demonstrated uniform Huntington lowering systematically and throughout the whole range, including in the Striatum, Cortex and Cerebellum. The company also plans to submit the BLA to the FDA in the second quarter of this year.

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