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FDA approval and favorable analyst revisions suggest strong price potential, reminiscent of past biotech approvals that led to significant stock gains.
What happened, with direct paths to the underlying reporting
PTC Therapeutics gained FDA approval for SEPHIENCE for PKU treatment. The approval is seen as a major milestone for PKU patients. PTC shares rose 11.7% post-announcement, trading at $49.53. Analysts raised price targets for PTC, signaling strong market confidence. PTC’s management is prepared to launch SEPHIENCE promptly.
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