PTC Therapeutics, Inc (PTCT) saw its loss narrow to $35.17 million, or $1.03 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $43.22 million, or $1.27 a share.
Revenue during the quarter surged 135.13 percent to $22.99 million from $9.78 million in the previous year period.
Operating loss for the quarter was $32.06 million, compared with an operating loss of $42.23 million in the previous year period.
“For the past 18 years, we have focused significant effort towards developing Translarna for those affected by Duchenne,” stated Stuart W. Peltz, Ph.D. chief executive officer, PTC Therapeutics, Inc. “Over 400 Duchenne patients have participated in our clinical trials dating back to 2005 and the vast majority continue to remain on Translarna including approximately 130 boys in the United States. With this high compliance rate, we believe these actions speak to the benefit Translarna is providing to patients in the U.S. and around the world. In the E.U., regulatory discussions continue and we anticipate an opinion from the CHMP before the end of the year. With respect to the U.S., we will continue to escalate our appeal so that we may have the opportunity to have the Translarna NDA submission reviewed by the FDA. Our goal remains to deliver this novel therapy to nonsense mutation Duchenne patients globally.”
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