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July 28, 2015 5:05 AM ET

Biotechnology

Company Overview of PTC Therapeutics, Inc.

Company Overview

PTC Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes. The company’s lead product is Translarna (ataluren), which is in Phase III clinical trials for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and for the treatment of cystic fibrosis caused by nonsense mutations. It also intends to develop Translarna for the treatment of mucopolysaccharidosis type I caused by nonsense mutation, as well as develops spinal muscular atrophy, which is in Phase II clinical program. The company’s preclinical developme...

100 Corporate Court

South Plainfield, NJ 07080

United States

Founded in 1998

187 Employees

Phone:

908-222-7000

Fax:

908-222-7231

Key Executives for PTC Therapeutics, Inc.

Co-Founder, Chief Executive Officer and Executive Director
Age: 55
Total Annual Compensation: $495.0K
Chief Commercial Officer
Age: 52
Total Annual Compensation: $368.2K
Chief Medical Officer
Age: 65
Total Annual Compensation: $329.3K
Compensation as of Fiscal Year 2014.

PTC Therapeutics, Inc. Key Developments

PTC Therapeutics, Inc. Appoints Glenn D. Steele to Board of Directors

PTC Therapeutics, Inc. announced the appointment of Glenn D. Steele Jr., M.D., Ph.D. to the company's Board of Directors. Dr. Steele served as President and Chief Executive Officer of Geisinger Health from March 2001 until May 2015 and is now Chairman of xG Health Solutions, a Geisinger spinoff. Dr. Steele previously served as the dean of the Biological Sciences Division and the Pritzker School of Medicine and vice president for medical affairs at the University of Chicago, as well as the Richard T. Crane Professor in the Department of Surgery. Prior to that, he was the William V. McDermott Professor of Surgery at Harvard Medical School, President and Chief Executive Officer of Deaconess Professional Practice Group and chairman of the department of surgery at New England Deaconess Hospital in Boston. Dr. Steele serves on the board of directors of several public companies, including, CEPHEID, Weis Markets Inc., and Wellcare Health Plans Inc. In addition, Dr. Steele serves on the governing body of several private organizations, including Bucknell University, xG Health Solutions, and Geisinger Health System.

PTC Therapeutics, Inc. Announces German Federal Joint Committee Issues Positive Medical Benefit Rating for Translarna™ in Patients with Nonsense Mutation Duchenne Muscular Dystrophy

PTC Therapeutics, Inc. announced that the Benefit Assessment by Germany's Federal Joint Committee (G-BA) indicated that Translarna (ataluren) provided a benefit for ambulatory patients aged five years and older with nonsense mutation Duchenne Muscular Dystrophy (nmDMD). The G-BA came to the decision that the existing clinical data package presented by PTC provided convincing evidence for the demonstration of a clinically meaningful added benefit. PTC received a 3 in the rating system established under the German pharmaceutical law.

PTC Therapeutics, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2015

PTC Therapeutics, Inc. reported earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $7,482,000 compared to $9,217,000 a year ago. Loss from operations was $38,071,000 compared to $14,212,000 a year ago. Net loss was $37,915,000 compared to $14,098,000 a year ago. Basic and diluted net loss per share was $1.15 compared to $0.58 a year ago.

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