PTC Therapeutics, Inc. (PTCT) saw its loss narrow to $26.80 million, or $0.78 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $50.95 million, or $1.50 a share. Revenue during the quarter surged 97.82 percent to $25.19 million from $12.73 million in the previous year period.
Operating loss for the quarter was $24.99 million, compared with an operating loss of $48.20 million in the previous year period.
"For nearly 20 years, PTC has been committed to delivering new treatment options to patients living with Duchenne muscular dystrophy globally," said Stuart W. Peltz, Ph.D., chief executive officer, PTC Therapeutics, Inc. "Our strong commercial performance in 2016 coupled with the advancements in our clinical programs brings us closer to that goal. I am proud of what we accomplished in 2016, and we will continue to work diligently to bring Translarna to patients globally, as well as develop treatments for additional rare, genetic disorders."
For financial year 2017, PTC Therapeutics, Inc. expects revenue to be in the range of $105 million to $125 million.
Debt moves up
PTC Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $98.22 million as on Dec. 31, 2016, up 6.93 percent or $6.37 million from $91.85 million on Dec. 31, 2015. Total debt was 36.46 percent of total assets as on Dec. 31, 2016, compared with 24.96 percent on Dec. 31, 2015. Debt to equity ratio was at 0.82 as on Dec. 31, 2016, up from 0.41 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
