PTC shares plunge anew af­ter FDA slaps down Duchenne drug for a sec­ond time

There will be no Lazarus-like rise from the dead for PTC Ther­a­peu­tics at the FDA — at least for now. The agency has slapped down the biotech’s first ap­peal of the FDA’s re­fusal to even con­sid­er what it has al­ready con­clud­ed was an in­ad­e­quate ap­pli­ca­tion for its Duchenne mus­cu­lar dy­s­tro­phy drug Translar­na (ataluren).

The news drove PTC’s shares $PTCT down 40% by the end of the day, as in­vestors bet against any ap­proval in the near fu­ture.

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