PTC cuts 25% of its workforce to save money amid big company revamp
Rare disease company PTC Therapeutics is laying off an additional 25% of its workforce as it discontinues gene therapy efforts and works on salvaging its Duchenne muscular dystrophy drug Translarna in Europe.
The majority of affected employees work in early-stage research and PTC’s gene therapy manufacturing facility located in Hopewell, NJ. Employees working in sales and general and administrative functions are also affected.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.