Why Is PTC Therapeutics (PTCT) Stock Down 21% Today?

  • PTC Therapeutics (PTCT) stock is falling on clinical trial news.
  • Its MOVE-FA trial failed to meet its primary endpoint.
  • This has the company considering alternatives for vatiquinone.
PTCT Stock - Why Is PTC Therapeutics (PTCT) Stock Down 21% Today?

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PTC Therapeutics (NASDAQ:PTCT) stock is taking a beating on Wednesday after the company provided investors with an update on a clinical trial.

The bad news for PTCT stock is the company’s MOVE-FA trial failed to meet its primary endpoint. The study included 146 pediatric and adult patients and was unable to show a statistically significant change in mFARS score at 72 weeks.

While the MOVE-FA trial didn’t reach its primary endpoint, it did reach several secondary endpoints. As a result, the company is considering alternative paths for vatiquinone, the treatment in the study.

Matthew B. Klein, M.D., CEO of PTC Therapeutics, said the following about the news:

“While we are disappointed that the study did not achieve its primary endpoint, we are encouraged by the findings of meaningful impact on several different aspects of FA disease progression and morbidity over 72 weeks. Given the signals of clinical benefit, vatiquinone’s well-established safety profile in children, and the unmet medical need for pediatric patients with FA, we look forward to discussing a potential path to registration with regulatory authorities.”

PTCT Stock Movement Today

With the failed clinical trial news, shares of PTCT aren’t seeing much movement as investors react to the results. This only has around 65,000 shares changing hands as of this writing. That’s well below the company’s daily average trading volume of about 776,000 shares.

PTCT stock is down 20.7% as of Wednesday morning.

There’s more stock market news traders will want to read about below!

We have all of that news ready to go for investors on Wednesday! A few examples include what’s happening with shares of EpicQuest Education (NASDAQ:EEIQ), Minerva Surgical (NASDAQ:UTRS), and the biggest pre-market stock movers for Wednesday morning. All of that is ready to go with the following links!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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