Many public biopharmaceutical companies have turned to alternatives other than follow-on public offerings (FOPOs) this year to fund their research and development programs while stock prices have been under pressure from macroeconomic and other concerns. PTC Therapeutics, Inc. has seen its valuation fluctuate through 2022, closing as low as $25.60 in mid-June and as high as $54.79 in mid-October, but it has secured access to as much as $1bn from the private equity firm Blackstone.
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