PTC Therapeutics shares are trading lower after the company announced the CHMP of the EMA issued a negative opinion following the re-examination procedure for the conditional marketing authorization of Translarna.
Portfolio Pulse from Benzinga Newsdesk
PTC Therapeutics' stock is trading lower due to the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issuing a negative opinion on the re-examination for the conditional marketing authorization of Translarna.
January 26, 2024 | 1:39 pm
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NEGATIVE IMPACT
PTC Therapeutics' shares are expected to face negative pressure in the short term due to the CHMP's negative opinion on Translarna, which could impact the company's European market prospects.
The negative opinion from the CHMP is a significant regulatory setback for PTC Therapeutics, as it directly affects the potential sales and market expansion of Translarna in Europe. This is likely to be viewed negatively by investors, leading to a decrease in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100