SOUTH PLAINFIELD, N.J., October 15, 2019 – Shares of PTC Therapeutics Inc. (NASDAQ: PTCT) showed the bullish trend with a higher momentum of 0.11% to $35.33. The company traded total volume of 299.853K shares as contrast to its average volume of 595.34K shares. The company has a market value of $2.12B and about 59.97M shares outstanding.
PTC Therapeutics, Inc. (PTCT) reported total revenues of $53.60M for the first quarter of 2019, compared to $56.10M for the first quarter of 2018.
- Translarna net product revenues were $35.30M for the first quarter of 2019, compared to $36.80M for the first quarter of 2018. These results reflect lumpiness in ordering patterns from Latin America.
- Emflaza net product revenues were $17.80M for the first quarter of 2019, compared to $19.20M for the first quarter of 2018. These results reflect first quarter dynamics including seasonality and a planned transition to a new specialty pharmacy distributor.
- GAAP R&D expenses were $52.60M for the first quarter of 2019, compared to $31.40M for the first quarter of 2018. The increase in R&D expenses reflects costs associated with advancing the gene therapy platform and increased investment in research programs as well as advancement of the clinical pipeline.
- Non-GAAP R&D expenses were $47.90M for the first quarter of 2019, excluding $4.70M in non-cash, stock-based compensation expense, compared to $27.60M for the first quarter of 2018, excluding $3.70M in non-cash, stock-based compensation expense.
- GAAP SG&A expenses were $40.60M for the first quarter of 2019, compared to $33.00M for the first quarter of 2018. The increase in SG&A expenses were primarily due to continued investment to support our commercial activities.
- Non-GAAP SG&A expenses were $36.00M for the first quarter of 2019, excluding $4.60M in non-cash, stock-based compensation expense, compared to $29.00M for the first quarter of 2018, excluding $4.00M in non-cash, stock-based compensation expense.
- Change in the fair value of deferred and contingent consideration was $21.20M for the first quarter of 2019. The change in fair value of deferred and contingent consideration is related to the fair valuation of potential future consideration to be paid to former equity holders of Agilis Biotherapeutics, Inc. (Agilis) in connection with PTC’s acquisition of Agilis, which closed in August 2018.
- Net loss was $72.10M for the first quarter of 2019, compared to net loss of $19.30M for the first quarter of 2018.
- Cash, cash equivalents, and marketable securities were $407.20M at March 31, 2019, compared to $227.60M at December 31, 2018. Shares issued and outstanding as of March 30, 2019 were 58,418,790.
The Company offered net profit margin of -76.40% while its gross profit margin was 95.50%. ROE was recorded as -49.10% while beta factor was 1.84. The stock, as of recent close, has shown the weekly upbeat performance of 3.91% which was maintained at 2.94% in this year.
