PTC Therapeutics Up Most Since 2016 on Rare-Disease Drug Results
- Spinal muscular atrophy drug results presented over weekend
- Shares of biotechnology company gain as much as 41 percent
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PTC Therapeutics Inc. shares rose to their highest price since August 2015 after the company said its experimental drug for spinal muscular atrophy helped the vast majority of babies who got the treatment.
Over the weekend the company reported that after 182 days of treatment, 91 percent of babies on the drug improved more than four points on a scale that measures motor milestone developments in patients with a form of spinal muscular atrophy, or SMA. The data were presented at the SMA Researcher Meeting in Dallas, along with footage showing the babies rolling, sitting and controlling their head movements.