PTC Therapeutics' Seizure Study Fails To Meet Primary Goal, Analyst Says Minimal Impact On Investment Thesis
Portfolio Pulse from Vandana Singh
PTC Therapeutics' MIT-E trial of vatiquinone for mitochondrial disease-associated seizures failed to meet its primary goal. However, the study showed evidence of treatment effect in reducing seizure frequency. The company plans to discuss the results of the MOVE-FA trial of vatiquinone for Friedreich ataxia with regulatory authorities. William Blair maintains an Outperform rating on PTC Therapeutics, seeing its PKU program as undervalued. PTCT shares are trading lower by 2.98% at $40.00 premarket.
June 30, 2023 | 12:18 pm
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NEGATIVE IMPACT
PTC Therapeutics' trial failed to meet its primary goal, but the company plans to discuss another trial's results with regulatory authorities. The stock is down 2.98% premarket.
The failure of the MIT-E trial is a setback for PTC Therapeutics, which could negatively impact the stock price in the short term. However, the company's plans to discuss the results of the MOVE-FA trial with regulatory authorities could potentially offset some of this negative impact. The stock's premarket drop of 2.98% indicates that the market is reacting to the news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100