PTC Therapeutics, Inc. (NASDAQ: PTCT) is having a strong start to the trading session this morning, and for good reason. The company announced preliminary results from a clinical trial that it is working on in partnership with Roche. Of course, the positive data led to excitement among investors, which is causing gains in the value of the stock. As is nearly always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:33), PTCT is trading at $18.55 per share after a gain of $0.22 per share or 1.20% thus far today.
PTCT Announces Positive Preliminary Data
As mentioned above, PTC Therapeutics is having a strong start to the trading session this morning after announcing preliminary data from a clinical trial that the company is working on in partnership with Roche as well as the SMA Foundation. The trial surrounds spinal muscular atrophy and the preliminary results from the Phase 2 SUNFISH trial are encouraging.
First and foremost, preliminary results from the trial show that type 2/3 SMA patients demonstrated a dose-dependent increase in SMN2 full length/?7 mRNA ratio of approximately 400% versus baseline as measured in whole blood. In particular, the preliminary results provided proof of mechanism for oral small molecule SMN2 splicing modifiers. PTCT also said that no drug-related adverse events leading to withdrawal have been observed to date for RG7916.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on PTCT. In particular, we’re interested in following the ongoing work with regard to RG7916, and excited to see the results moving forward. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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