1. PTC achieved $807 million in 2024 revenue, exceeding expectations. 2. All clinical and regulatory milestones were completed on time in 2024. 3. Novartis collaboration for Huntington's disease program finalized in January 2025. 4. PTC's cash reserves exceeded $2 billion as of January 2025. 5. Company aspires for robust growth based on 2024 accomplishments.
The exceeded revenue guidance and successful milestones suggest solid operational performance, likely boosting investor confidence. Historical examples show that similar achievements have positively impacted biotech stocks, enhancing market perception and stock performance.
The financial results and collaboration announcements reflect a significant shift in operational success, which are vital for PTCT's market positioning. Positive cash flow and achieved milestones enhance credibility and investment potential.
The immediate market reaction is expected as the news is fresh. Quick approval or developments tied to the collaboration with Novartis may yield swift impacts on PTCT's stock price in the coming months.
– Full year 2024 revenue of $807 million, exceeding guidance –
– All 2024 clinical and regulatory milestones were achieved on schedule, including four NDA submissions, all of which were accepted for filing –
– License and collaboration agreement with Novartis for PTC518 Huntington's disease program closed in January 2025 –
– Cash of over $2.0 billion as of January 2025 –
WARREN, N.J., Feb. 27, 2025 /PRNewswire/ -- PTC Therapeutics, Inc., (NASDAQ: PTCT) today announced a corporate update and financial results for the fourth quarter ending December 31, 2024.
"Our strong fourth quarter rounds out a year of significant accomplishment across every part of our company," said Matthew B. Klein, M.D., Chief Executive Officer. "In 2024, our commercial team delivered another outstanding performance, we achieved all clinical and regulatory milestones on schedule and we solidified our balance sheet. We now have over $2 billion in cash to support our planned commercial and R&D activities in 2025 and beyond. With the many accomplishments of 2024 and our team's demonstrated ability to execute across every part of the business, we have built a strong foundation for continued success."
Non-GAAP Financial Measures: In this press release, the financial results of PTC are provided in accordance with GAAP and using certain non-GAAP financial measures...
| Three Months Ended December 31 | Twelve Months Ended December 31 | |
|---|---|---|
| Revenues: | Net product revenue | 154,706 |
| Collaboration revenue | 304 | |
| Royalty revenue | 58,162 | |
| Total revenues | 213,172 |
For More Information:
Investors: Ellen Cavaleri +1 (615) 618-6228 [email protected]
Media: Jeanine Clemente +1 (908) 912-9406 [email protected]
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995...