PTC Therapeutics shares are trading lower after the company announced its MOVE-FA trial of vatiquinone did not meet its primary endpoint. The company will discontinue its preclinical and early research gene therapy programs.
Portfolio Pulse from Benzinga Newsdesk
PTC Therapeutics announced that its MOVE-FA trial of vatiquinone failed to meet its primary endpoint, leading to a decline in its share price. The company will also discontinue its preclinical and early research gene therapy programs.
May 24, 2023 | 12:15 pm
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PTC Therapeutics shares are trading lower after the company's MOVE-FA trial of vatiquinone failed to meet its primary endpoint, and the discontinuation of its preclinical and early research gene therapy programs.
The failure of the MOVE-FA trial to meet its primary endpoint is a significant setback for PTC Therapeutics, as it indicates that the drug may not be as effective as previously hoped. This news, combined with the discontinuation of the company's preclinical and early research gene therapy programs, is likely to negatively impact investor sentiment and lead to a decline in the company's share price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100