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Home>PTC Therapeutics gains after FDA panel votes against drug approval

PTC Therapeutics gains after FDA panel votes against drug approval

PTC Therapeutics gains after FDA panel votes against drug approval

09/29/2017

PTC Therapeutics Inc. (PTCT) stock gained 10% in after-hours action Thursday after trading was halted for the entire regular session as a Food and Drug Administration panel discussed the company's Duchenne muscular dystrophy drug. The panel eventually voted not to approve the drug, saying that more testing was required to prove its efficacy, though they did not completely reject the drug. The FDA does not have to follow the panel's recommendation, as it showed in controversially approving a drug for the same disease last year (http://www.marketwatch.com/story/sareptas-controversial-duchenne-muscular-dystrophy-drug-was-contested-right-up-to-approval-2016-09-19) from Sarepta Therapeutics Inc. (SRPT) despite a panel recommendation against the approval. After being halted at Wednesday's closing price of $17.46 all day, PTC shares resumed trading just before 6 p.m. Eastern time Thursday and topped $19.

-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

09-28-17 1913ET

Copyright (c) 2017 Dow Jones & Company, Inc.

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