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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