PTC Therapeutics shares are trading higher after the company announced an agreement with Royalty Pharma to monetize up to $1.5 billion of the Evrysdi Royalty Stream
Portfolio Pulse from Benzinga Newsdesk
PTC Therapeutics has entered into an agreement with Royalty Pharma to monetize up to $1.5 billion of the Evrysdi Royalty Stream. This has led to an increase in PTC Therapeutics' share prices.
October 19, 2023 | 5:26 pm
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PTC Therapeutics' shares are trading higher after the company announced a deal with Royalty Pharma to monetize up to $1.5 billion of the Evrysdi Royalty Stream.
The agreement with Royalty Pharma to monetize up to $1.5 billion of the Evrysdi Royalty Stream is a significant financial move for PTC Therapeutics. This deal is likely to provide the company with a substantial cash inflow, which could be used for further research and development, or to strengthen its balance sheet. As a result, investors are reacting positively, leading to an increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100