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PTC Therapeutics Reports Second Quarter 2013 Financial and Corporate Results
Date:8/12/2013

SOUTH PLAINFIELD, N.J., Aug. 12, 2013 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT), a biopharmaceutical company focused on the discovery and development of orally administered, proprietary small-molecule drugs that target post-transcriptional control processes, today announced financial and corporate results for the quarter ended June 30, 2013.

(Logo: http://photos.prnewswire.com/prnh/20010919/PTCLOGO )

"The first half of the year was a very exciting time for PTC. We successfully completed an IPO raising gross proceeds of more than $144 million. With over $165 million in cash on our balance sheet at the end of the quarter, we are now well capitalized to continue the late-stage clinical development of our lead product candidate, ataluren, in nonsense mutation Duchenne muscular dystrophy and cystic fibrosis," said Stuart Peltz, PhD, Chief Executive Officer, PTC Therapeutics, Inc. "We began enrolling patients in our Phase 3 nmDMD clinical trial earlier this year and we plan to begin enrollment in our Phase 3 nmCF clinical trial in the first half of 2014.  We are also excited about the progress that is being made in our SMA program that is partnered with Roche where we recently announced the selection of a development candidate."

Key Recent Accomplishments

  • Successful Completion of Initial Public Offering (IPO): In June 2013, PTC completed its IPO selling approximately 9.6 million shares of common stock at a public offering price of $15 per share, resulting in approximately $144.4 million in gross proceeds to the company, before deducting underwriting discounts and commissions and other offering expenses.
  • Initiated Confirmatory Phase 3 Study of Ataluren in nmDMD: In April 2013, PTC initiated a confirmatory Phase
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  • SOURCE PTC Therapeutics, Inc.
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