- PTC Therapeutics ( NASDAQ: PTCT ) shows a 42% growth in revenue to $166M.
- Revenue includes net product revenue across the commercial portfolio of $143.7M vs. $103.1M last year. Royalty revenue of $21.8M vs. $13.6M.
- Bifurcating: Translarna net product revenues were $77M vs. $52.6M; Emflaza net product revenues were $56.8M vs. $49.1M.
- GAAP R&D expenses were $157.3M vs. $125.5M; GAAP SG&A expenses were $79.9M vs. $68.9M.
- Net loss was $152.1M vs. $118.4M.
- Cash, cash equivalents, and marketable securities was $505.5M on June 30, 2022, compared to $773.4M on Dec. 31, 2021.
- Reaffirms FY guidance: Total revenues between $700M-750M; net product revenues for the DMD franchise between $475M-495M.
- R&D and SG&A expense for the full year 2022 to be between $915M-965M.
- GAAP EPS of -$2.13 misses consensus by $0.76 .
- "We made significant progress in the second quarter toward achieving our ambitious goals for 2022. We continued to generate strong revenue growth, to expand our product portfolio, and to advance our pipeline. PTC has a broad and deep pipeline across a range of diseases, and we eagerly anticipate important results for several registration-directed studies during the next six to twelve months and this will continue our transformational growth." said Stuart W. Peltz, Ph.D., CEO.
- Stock gets a sell-side rating of Buy with 3.63 score and price target of $49.9.
- Quant rating of Hold with lowest factor grades to valuation and growth.
- Contributor who gives sell rating to the stock writes: ' DMD Trial News Unlikely To Restore Flagging Share Price '
- Previously: PTC Therapeutics Q2 GAAP EPS misses, revenue beats, FY22 guidance reaffirmed (Aug. 4)
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PTC Therapeutics betas topline expectations, strengthens commercial portfolio