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PTC Eyes Transition From Capital-Raising To Money-Making Company

 
• By Mandy Jackson

With $1.1bn in cash plus revenue from its existing commercial products and royalties from Roche’s sales of newly approved Evrysdi to invest in R&D, PTC Therapeutics may achieve profitability in 2023.

Businessman accountant counting money and making notes at report doing finances and calculate about cost of investment and analyzing financial data, Financing Accounting Banking Concept.
PTC may be profitable by 2023 based on product sales and royalties • Source: Shutterstock

PTC Therapeutics, Inc. CEO Stuart Peltz told Scrip that with $1.1bn in the bank the company has never been better capitalized to fund its pipeline of rare disease drug candidates. And with royalties from Evrysdi (risdiplam) – newly approved in the US for spinal muscular atrophy (SMA) – and revenue from its existing commercial portfolio plus near- and mid-term product approvals, PTC forecasts that it may generate $1.5bn in revenue by 2023 and achieve profitability.

The company had $498.9m in cash as of 30 June, but then it received $650m in July from Royalty...

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