2020 Q4 Form 10-Q Financial Statement
#000107008120000139 Filed on October 29, 2020
Income Statement
Concept | 2020 Q4 | 2020 Q3 | 2019 Q3 |
---|---|---|---|
Revenue | $118.9M | $118.4M | $71.42M |
YoY Change | 23.21% | 65.79% | 33.26% |
Cost Of Revenue | $4.900M | $4.700M | $3.006M |
YoY Change | 40.0% | 56.35% | -8.69% |
Gross Profit | $114.0M | $113.7M | $68.41M |
YoY Change | 22.71% | 66.2% | 36.01% |
Gross Profit Margin | 95.88% | 96.03% | 95.79% |
Selling, General & Admin | $75.50M | $57.84M | $49.28M |
YoY Change | 18.9% | 17.36% | 28.45% |
% of Gross Profit | 66.23% | 50.87% | 72.04% |
Research & Development | $118.0M | $93.00M | $63.08M |
YoY Change | 44.25% | 47.44% | 16.02% |
% of Gross Profit | 103.51% | 81.79% | 92.2% |
Depreciation & Amortization | $12.40M | $11.64M | $8.140M |
YoY Change | 33.62% | 43.0% | 14.97% |
% of Gross Profit | 10.88% | 10.24% | 11.9% |
Operating Expenses | $215.2M | $173.5M | $131.9M |
YoY Change | 27.18% | 31.57% | 29.53% |
Operating Profit | -$96.37M | -$55.13M | -$60.48M |
YoY Change | 32.41% | -8.84% | 25.39% |
Interest Expense | -$24.30M | -$21.04M | -$2.666M |
YoY Change | 341.82% | 689.16% | -14.5% |
% of Operating Profit | |||
Other Income/Expense, Net | $58.90M | $28.77M | $2.800M |
YoY Change | 425.89% | 927.36% | 281.47% |
Pretax Income | -$61.70M | -$47.40M | -$60.34M |
YoY Change | -7.91% | -21.44% | 19.22% |
Income Tax | $12.60M | $22.29M | -$344.0K |
% Of Pretax Income | |||
Net Earnings | -$74.35M | -$69.69M | -$60.00M |
YoY Change | -4.28% | 16.16% | 17.71% |
Net Earnings / Revenue | -62.53% | -58.86% | -84.01% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$1.080M | -$1.031M | -$1.062M |
COMMON SHARES | |||
Basic Shares Outstanding | 68.24M | 67.70M shares | 58.95M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2020 Q4 | 2020 Q3 | 2019 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.104B | $1.141B | $708.6M |
YoY Change | 60.75% | 61.02% | 184.12% |
Cash & Equivalents | $208.8M | $434.0M | $523.6M |
Short-Term Investments | $894.8M | $707.0M | $185.1M |
Other Short-Term Assets | $39.50M | $26.90M | $20.70M |
YoY Change | 120.67% | 29.95% | 158.75% |
Inventory | $18.70M | $19.48M | $17.11M |
Prepaid Expenses | |||
Receivables | $69.90M | $56.80M | $60.40M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $1.232B | $1.244B | $806.9M |
YoY Change | 58.06% | 54.2% | 157.55% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $33.83M | $28.14M | $18.48M |
YoY Change | 57.0% | 52.25% | 109.93% |
Goodwill | $82.34M | $82.30M | $82.30M |
YoY Change | 0.0% | 0.0% | 0.0% |
Intangibles | $715.3M | $712.5M | $702.9M |
YoY Change | 0.68% | 1.37% | 16.26% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $60.60M | $28.10M | $17.20M |
YoY Change | 269.51% | 63.37% | 975.0% |
Total Long-Term Assets | $976.5M | $936.9M | $834.6M |
YoY Change | 15.63% | 12.25% | 16.67% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.232B | $1.244B | $806.9M |
Total Long-Term Assets | $976.5M | $936.9M | $834.6M |
Total Assets | $2.208B | $2.181B | $1.641B |
YoY Change | 36.0% | 32.87% | 59.58% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $18.67M | $15.66M | $8.959M |
YoY Change | 80.79% | 74.83% | 37.03% |
Accrued Expenses | $92.00M | $68.00M | $50.70M |
YoY Change | 31.43% | 34.12% | 181.67% |
Deferred Revenue | $4.151M | $5.992M | $8.810M |
YoY Change | -49.64% | -31.99% | 339.62% |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $22.30M | $0.00 | $20.00M |
YoY Change | 11.5% | -100.0% | 199.99% |
Total Short-Term Liabilities | $277.3M | $253.8M | $183.5M |
YoY Change | 17.59% | 38.32% | 59.67% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $309.1M | $303.0M | $293.1M |
YoY Change | 5.2% | 3.35% | 103.21% |
Other Long-Term Liabilities | $1.392M | $1.968M | $9.455M |
YoY Change | 887.23% | -79.19% | 9261.39% |
Total Long-Term Liabilities | $310.5M | $304.9M | $302.6M |
YoY Change | 5.62% | 0.77% | 109.62% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $277.3M | $253.8M | $183.5M |
Total Long-Term Liabilities | $310.5M | $304.9M | $302.6M |
Total Liabilities | $1.726B | $1.670B | $977.8M |
YoY Change | 67.69% | 70.8% | 52.18% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.629B | -$1.555B | -$1.113B |
YoY Change | 36.82% | 39.69% | 24.95% |
Common Stock | $70.00K | $68.00K | $61.00K |
YoY Change | 12.9% | 11.48% | 19.61% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $482.0M | $511.0M | $663.7M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $2.208B | $2.181B | $1.641B |
YoY Change | 36.0% | 32.87% | 59.58% |
Cashflow Statement
Concept | 2020 Q4 | 2020 Q3 | 2019 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$74.35M | -$69.69M | -$60.00M |
YoY Change | -4.28% | 16.16% | 17.71% |
Depreciation, Depletion And Amortization | $12.40M | $11.64M | $8.140M |
YoY Change | 33.62% | 43.0% | 14.97% |
Cash From Operating Activities | -$64.36M | $26.65M | -$15.50M |
YoY Change | 530.36% | -271.94% | -558.58% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$6.350M | -$3.310M | -$4.250M |
YoY Change | 36.27% | -22.12% | 226.92% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$201.8M | -$390.9M | $34.68M |
YoY Change | -10.06% | -1227.19% | -252.04% |
Cash From Investing Activities | -$208.1M | -$394.2M | $30.43M |
YoY Change | -9.12% | -1395.47% | -226.16% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 40.09M | 643.1M | 382.4M |
YoY Change | 1658.33% | 68.18% | 7426.77% |
NET CHANGE | |||
Cash From Operating Activities | -64.36M | 26.65M | -15.50M |
Cash From Investing Activities | -208.1M | -394.2M | 30.43M |
Cash From Financing Activities | 40.09M | 643.1M | 382.4M |
Net Change In Cash | -232.4M | 275.5M | 397.3M |
YoY Change | -1.92% | -30.66% | -2636.97% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$64.36M | $26.65M | -$15.50M |
Capital Expenditures | -$6.350M | -$3.310M | -$4.250M |
Free Cash Flow | -$58.01M | $29.96M | -$11.25M |
YoY Change | 945.23% | -366.31% | -340.38% |
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Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
169708000 | ||
us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
139044000 | ||
CY2020Q3 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-8400000 | |
CY2019Q3 | us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-9500000 | |
us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-16980000 | ||
us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1
|
-35960000 | ||
CY2020Q3 | ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
0 | |
CY2019Q3 | ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
0 | |
ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
10613000 | ||
ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
0 | ||
CY2020Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
173535000 | |
CY2019Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
131891000 | |
us-gaap |
Operating Expenses
OperatingExpenses
|
597296000 | ||
us-gaap |
Operating Expenses
OperatingExpenses
|
378895000 | ||
CY2020Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-55131000 | |
CY2019Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-60475000 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-335394000 | ||
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-168374000 | ||
CY2020Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-21039000 | |
CY2019Q3 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-2666000 | |
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-32060000 | ||
us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-7028000 | ||
CY2020Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
28766000 | |
CY2019Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2800000 | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
26242000 | ||
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
2509000 | ||
CY2020Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-47404000 | |
CY2019Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-60341000 | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-341212000 | ||
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-172893000 | ||
CY2020Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
22288000 | |
CY2019Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-344000 | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
22594000 | ||
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1006000 | ||
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69692000 | |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-59997000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-363806000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-173899000 | ||
CY2020Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
67641171 | |
CY2019Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
56463528 | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
65068281 | ||
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
57798968 | ||
CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.03 | |
CY2019Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.06 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-5.59 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-3.01 | ||
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69692000 | |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-59997000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-363806000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-173899000 | ||
CY2020Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-1016000 | |
CY2019Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-463000 | |
us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
1639000 | ||
us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
435000 | ||
CY2020Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-24695000 | |
CY2019Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-843000 | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-26782000 | ||
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-1281000 | ||
CY2020Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-95403000 | |
CY2019Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-61303000 | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-388949000 | ||
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-174745000 | ||
CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
572494000 | |
CY2020Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
9141000 | |
CY2020Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
7943000 | |
CY2020Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
16779000 | |
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-69692000 | |
CY2020Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-25711000 | |
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
510954000 | |
CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
488685000 | |
CY2019Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
99211000 | |
CY2019Q3 | us-gaap |
Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
|
119489000 | |
CY2019Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
7088000 | |
CY2019Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10484000 | |
CY2019Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-59997000 | |
CY2019Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-1306000 | |
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
663654000 | |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
594330000 | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
28092000 | ||
us-gaap |
Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
|
42869000 | ||
ptct |
Stock Issued During Period Value Exchange Rights
StockIssuedDuringPeriodValueExchangeRights
|
150528000 | ||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
32987000 | ||
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
2406000 | ||
us-gaap |
Stockholders Equity Period Increase Decrease
StockholdersEquityPeriodIncreaseDecrease
|
-218000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-363806000 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-25143000 | ||
CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
510954000 | |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
350727000 | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
323756000 | ||
us-gaap |
Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
|
119489000 | ||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
12195000 | ||
us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
1564000 | ||
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
30668000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-173899000 | ||
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-846000 | ||
CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
663654000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-363806000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-173899000 | ||
us-gaap |
Depreciation
Depreciation
|
31088000 | ||
us-gaap |
Depreciation
Depreciation
|
22903000 | ||
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
4295000 | ||
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
2446000 | ||
us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
41382000 | ||
us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
0 | ||
ptct |
Noncash Royalty Revenue Sale Of Future Royalties
NoncashRoyaltyRevenueSaleOfFutureRoyalties
|
299000 | ||
ptct |
Noncash Royalty Revenue Sale Of Future Royalties
NoncashRoyaltyRevenueSaleOfFutureRoyalties
|
0 | ||
ptct |
Noncash Interest Expense Liability Related To Sale Of Future Royalties
NoncashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties
|
14557000 | ||
ptct |
Noncash Interest Expense Liability Related To Sale Of Future Royalties
NoncashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties
|
0 | ||
us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
16980000 | ||
us-gaap |
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
|
35960000 | ||
ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
10613000 | ||
ptct |
Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
|
0 | ||
ptct |
Shares Issued Asset Acquisition
SharesIssuedAssetAcquisition
|
42869000 | ||
ptct |
Shares Issued Asset Acquisition
SharesIssuedAssetAcquisition
|
0 | ||
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
852000 | ||
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
2529000 | ||
ptct |
Unrealized Gain Loss On Convertible Securities
UnrealizedGainLossOnConvertibleSecurities
|
633000 | ||
ptct |
Unrealized Gain Loss On Convertible Securities
UnrealizedGainLossOnConvertibleSecurities
|
0 | ||
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
16678000 | ||
us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
6583000 | ||
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-25000 | ||
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | ||
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
559000 | ||
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
1374000 | ||
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
766000 | ||
us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
434000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
48909000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
30668000 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
27077000 | ||
us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-205000 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-390000 | ||
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1574000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
9289000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
11771000 | ||
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-121000 | ||
us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-5879000 | ||
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
217000 | ||
us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
1073000 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
54390000 | ||
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
695000 | ||
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-4096000 | ||
us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-3567000 | ||
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-5940000 | ||
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
1581000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-129705000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-88433000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
11491000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9104000 | ||
ptct |
Payments To Acquire Convertible Debt Investment
PaymentsToAcquireConvertibleDebtInvestment
|
10000000 | ||
ptct |
Payments To Acquire Convertible Debt Investment
PaymentsToAcquireConvertibleDebtInvestment
|
0 | ||
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
1006946000 | ||
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
239386000 | ||
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
700627000 | ||
us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
114500000 | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
25618000 | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
20250000 | ||
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
0 | ||
us-gaap |
Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
|
4000000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-353428000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-158240000 | ||
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | ||
us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
279571000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
32987000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
12195000 | ||
us-gaap |
Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
|
597000 | ||
us-gaap |
Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
|
0 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
28092000 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
324262000 | ||
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
28333000 | ||
us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
6667000 | ||
ptct |
Payments On Deferred Consideration Obligation
PaymentsOnDeferredConsiderationObligation
|
38100000 | ||
ptct |
Payments On Deferred Consideration Obligation
PaymentsOnDeferredConsiderationObligation
|
0 | ||
us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
2406000 | ||
us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
1564000 | ||
ptct |
Payment Of Finance Lease Principal
PaymentOfFinanceLeasePrincipal
|
17829000 | ||
ptct |
Payment Of Finance Lease Principal
PaymentOfFinanceLeasePrincipal
|
0 | ||
ptct |
Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
|
650000000 | ||
ptct |
Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
|
0 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
628626000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
610925000 | ||
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
449000 | ||
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-2673000 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
145942000 | ||
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
441470000 | |
CY2019Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
531077000 | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
361579000 | ||
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
295528000 | |
CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
169498000 | |
us-gaap |
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;">PTC Therapeutics, Inc.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;">Notes to Consolidated Financial Statements (unaudited)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;">September 30, 2020</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">In thousands (except per share data unless otherwise noted)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. The Company</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">PTC Therapeutics, Inc. (the “Company” or “PTC”) is a science-driven global biopharmaceutical company focused on the discovery, development and commercialization of clinically-differentiated medicines that provide benefits to patients with rare disorders. The Company’s ability to globally commercialize products is the foundation that drives its continued investment in a robust diversified pipeline of transformative medicines and its mission to provide access to best-in-class treatments for patients who have an unmet medical need. The Company’s strategy is to bring best-in-class therapies with differentiated clinical benefit to patients affected by rare disorders and to leverage its global commercial infrastructure to maximize value for its patients and other stakeholders.</p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-size:10pt;">The Company has two products, Translarna</span>™ <span style="font-size:10pt;">(ataluren) and Emflaza™ (deflazacort), for the treatment of Duchenne muscular dystrophy, or DMD, a rare, life threatening disorder. Translarna has marketing authorization in the European Economic Area (the “EEA”) for the treatment of nonsense mutation Duchenne muscular dystrophy (“nmDMD”), in ambulatory patients aged 2 years and older and in Brazil for the treatment of nmDMD in ambulatory patients aged 5 years and older, subject to annual renewal and other conditions. In July 2020, the European Commission approved the removal of the statement “efficacy has not been demonstrated in non-ambulatory patients” from the indication statement for Translarna. Emflaza is approved in the United States for the treatment of DMD in patients two years and older.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company has a pipeline of gene therapy product candidates for rare monogenic diseases that affect the central nervous system (“CNS”) including PTC-AADC for the treatment of Aromatic L-Amino Acid Decarboxylase (“AADC deficiency”), a rare CNS disorder arising from reductions in the enzyme AADC that results from mutations in the dopa decarboxylase gene. The Company is preparing a biologics license application ("BLA") for PTC-AADC for the treatment of AADC deficiency in the United States and it anticipates submitting a BLA to the United States Food and Drug Administration ("FDA") in the first half of 2021. In January 2020, the Company submitted a marketing authorization application ("MAA") to the European Medicines Agency (“EMA”) for PTC-AADC for the treatment of AADC deficiency in the EEA, and the Company expects an opinion from the Committee for Medical Products for Human Use (“CHMP”) in the first half of 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company holds the rights for the commercialization of Tegsedi™ (inotersen) and Waylivra™ (volanesorsen) for the treatment of rare diseases in countries in Latin America and the Caribbean pursuant to the Company’s Collaboration and License Agreement with Akcea Therapeutics, Inc. (“Akcea”). Tegsedi has received marketing authorization in the United States, the European Union (the “EU”) and Brazil for the treatment of stage 1 or stage 2 polyneuropathy in adult patients with hereditary transthyretin amyloidosis (“hATTR amyloidosis”). Waylivra has received marketing authorization in the EU for the treatment of familial chylomicronemia syndrome (“FCS”). The Company filed for marketing authorization for Waylivra for the treatment of FCS with ANVISA, the Brazilian health regulatory authority, in June 2020 and, subject to potential delays in the review process related to the COVID-19 pandemic, expects a regulatory decision on approval from ANVISA in 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company also has a spinal muscular atrophy ("SMA") collaboration with F. Hoffman-La Roche Ltd and Hoffman-La Roche Inc., referred to collectively as Roche, and the Spinal Muscular Atrophy Foundation ("SMA Foundation"). The SMA program has one approved product, Evrysdi™ (risdiplam), which was approved in August 2020 by the FDA for the treatment of SMA in adults and children two months and older. Evrysdi also received marketing authorization for the treatment of SMA in Brazil in October 2020 and the EMA accepted the MAA filed by Roche for Evrysdi for the treatment of SMA in August 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On October 25, 2019, the Company completed the acquisition of substantially all of the assets of BioElectron Technology Corporation (“BioElectron”), a Delaware corporation, including certain compounds that the Company has begun to develop as part of its Bio-e platform, (the “Asset Acquisition”) pursuant to an asset purchase agreement by and between the Company and BioElectron, dated October 1, 2019 (the “Asset Acquisition Agreement”). The transaction was </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">accounted for as an asset acquisition. The two most advanced molecules in the Company’s Bio-e platform are vatiquinone and PTC857. The Company initiated a registration-directed Phase 2/3 placebo-controlled trial of vatiquinone in approximately 60 children with mitochondrial disease and associated refractory epilepsy in the third quarter of 2020. The Company expects to initiate a registration-directed Phase 3 trial of vatiquinone in approximately 100 patients with Friedrich ataxia in the fourth quarter of 2020. In the second quarter of 2020, the Company initiated a Phase 1 trial in healthy volunteers to evaluate the safety and pharmacology of PTC857, which the Company believes has the potential to address multiple CNS disorders with glucocerebrosidase Parkinson’s disease as its first planned indication. The Company completed dosing within the single ascending dose study and expects to complete dosing within the multiple ascending dose study from the Phase 1 trial by the end of 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In June 2020, the FDA authorized the initiation of a Phase 2/3 clinical trial evaluating PTC299, a dihydroorotate dehydrogenase inhibitor that the Company has also been developing in oncological indications, as a potential treatment for COVID-19. The integrated Phase 2/3 study, which has been initiated and is being conducted in two stages, will evaluate the efficacy and safety of PTC299 in patients hospitalized with SARS-CoV-2 infection. The Company expects Stage 1 of the clinical trial to be completed in the fourth quarter of 2020 and it anticipates reporting top-line results from both stages in the first half of 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">In addition, the Company has a pipeline of product candidates and discovery programs that are in early clinical, pre-clinical and research and development stages focused on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s marketing authorization for Translarna in the EEA is subject to annual review and renewal by the European Commission following reassessment by the EMA of the benefit-risk balance of the authorization, which the Company refers to as the annual EMA reassessment. This marketing authorization is further subject to the specific obligation to conduct and submit the results of a multi-center, randomized, double-blind, 18-month, placebo-controlled trial, followed by an 18-month open-label extension, according to an agreed protocol, in order to confirm the efficacy and safety of Translarna. The final report on the trial and open-label extension is to be submitted by the Company to the EMA by the end of the third quarter of 2022. The Company refers to the trial and open-label extension together as Study 041.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The marketing authorization in the EEA was last renewed in June 2020 and is effective, unless extended, through August 5, 2021. The renewal was based on the Company’s commitment to conduct Study 041 and the totality of the clinical data available from its trials and studies of Translarna for the treatment of nmDMD, including the safety and efficacy results of the Phase 2b and Phase 3 clinical trials. The primary efficacy endpoint was not achieved in either trial within the pre-specified level of statistical significance.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Translarna is an investigational new drug in the United States. During the first quarter of 2017, the Company filed a New Drug Application (“NDA”), over protest with the FDA, for which the FDA granted a standard review. In October 2017, the Office of Drug Evaluation I of the FDA issued a complete response letter for the NDA, stating that it was unable to approve the application in its current form. In response, the Company filed a formal dispute resolution request with the Office of New Drugs of the FDA. In February 2018, the Office of New Drugs of the FDA denied the Company’s appeal of the Complete Response Letter. In its response, the Office of New Drugs recommended a possible path forward for the ataluren NDA submission based on the accelerated approval pathway. This would involve a re-submission of an NDA containing the current data on effectiveness of ataluren with new data to be generated on dystrophin production in nmDMD patients’ muscles. The Company intends to follow the FDA’s recommendation and will collect, using newer technologies via procedures and methods that the Company designed, such dystrophin data in a new study, Study 045, which the Company initiated in the fourth quarter of 2018. The final study muscle biopsies for the patients in Study 045 were completed in October 2020 and the Company has begun the process of analyzing the samples according to its protocol. The Company expects to report top-line results from Study 045 in the first quarter of 2021 followed by a potential resubmission of the NDA for Translarna for the treatment of nmDMD thereafter. Additionally, should a re-submission of an NDA receive accelerated approval, the Office of New Drugs stated that Study 041, which is currently enrolling, could serve as the confirmatory post-approval trial required in connection with the accelerated approval framework.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On August 23, 2018, the Company completed its acquisition of Agilis Biotherapeutics, Inc. (“Agilis”), pursuant to an Agreement and Plan of Merger, dated as of July 19, 2018 (the “Merger Agreement”), by and among the Company, Agility </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Merger Sub, Inc., a Delaware corporation and the Company’s wholly owned, indirect subsidiary, Agilis and, solely in its capacity as the representative, agent and attorney-in-fact of the equityholders of Agilis, Shareholder Representative Services LLC, (the "Merger").</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Upon the closing of the Merger, the Company paid to Agilis equityholders total upfront consideration comprised of $49.2 million in cash and 3,500,907 shares of the Company’s common stock (the “Closing Stock Consideration”). The Closing Stock Consideration was determined by dividing $150.0 million by the volume-weighted average price per share of the Company’s common stock on the Nasdaq Global Select Market for the <span style="-sec-ix-hidden:Hidden_6bGeDJgUIkyP7oopAFXUlQ"><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">10</span></span> consecutive trading-day period ending on the second trading-day immediately preceding the closing of the Merger. Agilis equityholders are entitled to receive contingent payments from the Company based on the achievement of certain development, regulatory and net sales milestones as well as based upon a percentage of net sales of certain products.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On April 29, 2020, the Company, certain of the former equity holders of Agilis, and, for the limited purposes set forth in the agreement, Shareholder Representative Services LLC, entered into a Rights Exchange Agreement (the “Rights Exchange Agreement”). Pursuant to the Rights Exchange Agreement, the Company issued 2,821,176 shares of its common stock (the “Common Stock Consideration”) and paid $36.9 million (the “Cash Consideration”), in the aggregate, to such former equityholders of Agilis (the “Participating Rightholders”) in exchange for the cancellation and forfeiture by the Participating Rightholders of their rights to receive certain milestone-based contingent payments under the Merger Agreement, pursuant to which the Company completed the Merger.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Pursuant to the terms of the Rights Exchange Agreement, the Participating Rightholders have canceled and forfeited their rights under the Merger Agreement to receive (i) $174.0 million, in the aggregate, of potential milestone payments based on the achievement of certain regulatory milestones and (ii) $37.6 million, in the aggregate, of $40.0 million in development milestone payments that would have been due upon the passing of the second anniversary of the closing of the Merger, regardless of whether the milestones were achieved.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Rights Exchange Agreement has no effect on the Merger Agreement other than to provide for the cancellation and forfeiture of the Participating Rightholders’ rights to receive $211.6 million, in the aggregate, of the milestone payments described above. As a result, all other rights and obligations under the Merger Agreement remain in effect pursuant to their terms, including the Company’s obligation to pay up to an aggregate maximum amount of $20.0 million upon the achievement of certain development milestones (representing the remaining portion of potential development milestone payments for which rights were not canceled and forfeited pursuant to the Rights Exchange Agreement while excluding the remaining $2.4 million milestone payment that was due and paid in the three month period ended September 30, 2020 upon the passing of the second anniversary of the closing of the Merger), up to an aggregate maximum amount of $361.0 million upon the achievement of certain regulatory milestones (representing the remaining portion of potential regulatory milestone payments for which rights were not canceled and forfeited pursuant to the Rights Exchange Agreement), up to a maximum aggregate amount of $150.0 million upon the achievement of certain net sales milestones and a percentage of annual net sales for Friedreich ataxia and Angelman syndrome during specified terms, ranging from 2% to 6%, pursuant to the terms of the Merger Agreement. Refer to Note 5 for further details regarding the Rights Exchange Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On May 29, 2020, the Company completed its acquisition of Censa Pharmaceuticals, Inc. (“Censa”) pursuant to an Agreement and Plan of Merger, dated as of May 5, 2020 (the "Censa Merger Agreement"), by and among the Company, Hydro Merger Sub, Inc., the Company’s wholly owned, indirect subsidiary, and, solely in its capacity as the representative, agent and attorney-in-fact of the securityholders of Censa, Shareholder Representative Services LLC (the "Censa Merger"). The transaction was accounted for as an asset acquisition. In connection with the Censa Merger, the Company acquired PTC923, which is being pursued as a possible treatment for orphan metabolic diseases associated with defects in the tetrahydrobiopterin biochemical pathways, including phenylketonuria ("PKU"). Refer to Note 3 for further details.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As of September 30, 2020, the Company had an accumulated deficit of approximately $1,554.5 million. The Company has financed its operations to date primarily through the private offerings in September 2019 of 1.50% convertible senior notes due 2026 and in August 2015 of 3.00% convertible senior notes due 2022 (see Note 11), public offerings of common stock in February 2014, October 2014, April 2018, January 2019, and September 2019, "at the market offerings" of its common stock, its initial public offering of common stock in June 2013, proceeds from the Royalty Purchase Agreement </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">(see Note 2), private placements of its convertible preferred stock, collaborations, bank debt, the Company’s credit and security agreement (the "Credit Agreement"), with MidCap Financial Trust, or MidCap Financial, as administrative agent and MidCap Financial and other certain institutions as lenders thereto (see Note 11), grant funding and clinical trial support from governmental and philanthropic organizations and patient advocacy groups in the disease area addressed by the Company’s product candidates. Since 2014, the Company has also relied on revenue generated from net sales of Translarna for the treatment of nmDMD in territories outside of the United States, and since May 2017, the Company has generated revenue from net sales of Emflaza for the treatment of DMD in the United States. The Company expects that cash flows from the sales of its products, together with the Company’s cash, cash equivalents and marketable securities, will be sufficient to fund its operations for at least the next twelve months.</p> | ||
CY2020Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-1554500000 | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates in these consolidated financial statements have been made in connection with the calculation of net product sales, royalty revenue, certain accruals related to the Company’s research and development expenses, valuation procedures for liability for sale of future royalties, valuation procedures for convertible notes, fair value of the contingent consideration, and the provision for or benefit from income taxes. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</p> | ||
CY2020Q3 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
7500000 | |
ptct |
Termforletterofcredit
Termforletterofcredit
|
P5Y | ||
ptct |
Termforletterofcredit
Termforletterofcredit
|
P5Y | ||
CY2019Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
288028000 | |
CY2020Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
433970000 | |
CY2019Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
7500000 | |
CY2020Q3 | us-gaap |
Restricted Cash
RestrictedCash
|
7500000 | |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
295528000 | |
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
441470000 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | |
CY2020Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
946000 | |
CY2019Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
874000 | |
CY2020Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
8600000 | |
CY2019Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
9652000 | |
CY2020Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
9935000 | |
CY2019Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
8759000 | |
CY2020Q3 | us-gaap |
Inventory Net
InventoryNet
|
19481000 | |
CY2019Q4 | us-gaap |
Inventory Net
InventoryNet
|
19285000 | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | ||
CY2019Q3 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | |
CY2020Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
100000 | |
CY2019Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
300000 | |
us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
0 | ||
CY2020Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
|
0 | |
CY2020Q3 | ptct |
Assigned Royalty Payment Retained Percentage
AssignedRoyaltyPaymentRetainedPercentage
|
0.57067 | |
CY2020Q3 | ptct |
Revenue Recognition Milestone Potential Achievements
RevenueRecognitionMilestonePotentialAchievements
|
362500000 | |
CY2017Q4 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | |
CY2019Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
122000000.0 | |
us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
22100000 | ||
CY2020Q3 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
22100000 | |
CY2019Q4 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
0 | |
CY2020Q3 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
23859000 | |
CY2020Q3 | ptct |
Number Of Operating Leases
NumberOfOperatingLeases
|
3 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P10Y | |
CY2020Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
5200000 | |
CY2019Q3 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
1700000 | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
10200000 | ||
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
3800000 | ||
CY2020Q3 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
500000 | |
us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
500000 | ||
CY2020Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
4097000 | |
CY2019Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1431000 | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
7896000 | ||
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
3078000 | ||
CY2020Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
890000 | |
CY2019Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
184000 | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
1914000 | ||
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
488000 | ||
CY2020Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
175000 | |
CY2019Q3 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
94000 | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
340000 | ||
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
235000 | ||
CY2020Q3 | ptct |
Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
|
5162000 | |
CY2019Q3 | ptct |
Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
|
1709000 | |
ptct |
Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
|
10150000 | ||
ptct |
Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
|
3801000 | ||
CY2020Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
85810000 | |
CY2019Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
13693000 | |
CY2020Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
5859000 | |
CY2019Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
5153000 | |
CY2020Q3 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
81674000 | |
CY2019Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
9018000 | |
CY2020Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
87533000 | |
CY2019Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
14171000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
1251000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
22608000 | |
CY2020Q3 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0780 | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
5611000 | ||
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
2751000 | ||
CY2020Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0864 | |
CY2019Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0733 | |
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
17829000 | ||
us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
0 | ||
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
76657000 | ||
us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
16120000 | ||
us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
41382000 | ||
us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | ||
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
2842000 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
13472000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
3000000 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
13229000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
|
3000000 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
12831000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
|
3000000 | |
CY2020Q3 | ptct |
Lessee Operating Lease Liability To Be Paid Year Four And After
LesseeOperatingLeaseLiabilityToBePaidYearFourAndAfter
|
104142000 | |
CY2020Q3 | ptct |
Finance Lease Liability To Be Paid Year Four And After
FinanceLeaseLiabilityToBePaidYearFourAndAfter
|
27000000 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
146516000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
36000000 | |
CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
58983000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
12141000 | |
CY2020Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
87533000 | |
CY2020Q3 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
23859000 | |
CY2020Q3 | ptct |
Investment In Mri
InvestmentInMRI
|
7000000.0 | |
CY2020Q1 | ptct |
Payments To Acquire Convertible Debt Investment
PaymentsToAcquireConvertibleDebtInvestment
|
10000000.0 | |
CY2020Q3 | us-gaap |
Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
|
6.00 | |
ptct |
Debt Instrument Convertible Period
DebtInstrumentConvertiblePeriod
|
P5Y | ||
CY2020Q3 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
1400000 | |
us-gaap |
Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
600000 | ||
CY2020Q3 | ptct |
Fair Value Assets Transfers Between Level1 Level2 And Level3 Amount
FairValueAssetsTransfersBetweenLevel1Level2AndLevel3Amount
|
0 | |
CY2019Q4 | ptct |
Fair Value Assets Transfers Between Level1 Level2 And Level3 Amount
FairValueAssetsTransfersBetweenLevel1Level2AndLevel3Amount
|
0 | |
CY2020Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
704653000 | |
CY2020Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
2449000 | |
CY2020Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
53000 | |
CY2020Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
707049000 | |
CY2019Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
397776000 | |
CY2019Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
787000 | |
CY2019Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
28000 | |
CY2019Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
398535000 | |
us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleAllowanceForCreditLossWriteoff
|
0 | ||
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss Writeoff
DebtSecuritiesAvailableForSaleAllowanceForCreditLossWriteoff
|
0 | |
us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPeriodIncreaseDecrease
|
0 | ||
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
DebtSecuritiesAvailableForSaleAllowanceForCreditLossPeriodIncreaseDecrease
|
0 | |
CY2020Q3 | us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
300000 | |
us-gaap |
Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
|
500000 | ||
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
53000 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
151245000 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
0 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
0 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
53000 | |
CY2020Q3 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
151245000 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
28000 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
95990000 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
0 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
0 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
28000 | |
CY2019Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
95990000 | |
CY2020Q3 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
574555000 | |
CY2020Q3 | ptct |
Available For Sale Securities Debt Maturities Over One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesOverOneYearFairValue
|
132494000 | |
CY2019Q4 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
342418000 | |
CY2019Q4 | ptct |
Available For Sale Securities Debt Maturities Over One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesOverOneYearFairValue
|
56117000 | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-363806000 | ||
CY2020Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-69692000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
48909000 | ||
us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
28100000 | ||
CY2020Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
34485000 | |
CY2019Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
38390000 | |
CY2020Q3 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
21475000 | |
CY2019Q4 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
499000 | |
CY2020Q3 | ptct |
Accrued Consulting And Contracted Research Current
AccruedConsultingAndContractedResearchCurrent
|
17659000 | |
CY2019Q4 | ptct |
Accrued Consulting And Contracted Research Current
AccruedConsultingAndContractedResearchCurrent
|
12969000 | |
CY2020Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4590000 | |
CY2019Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
3562000 | |
CY2020Q3 | ptct |
Sales Allowance And Other Related Costs
SalesAllowanceAndOtherRelatedCosts
|
50644000 | |
CY2019Q4 | ptct |
Sales Allowance And Other Related Costs
SalesAllowanceAndOtherRelatedCosts
|
41155000 | |
CY2020Q3 | ptct |
Sales Rebates And Royalties Current
SalesRebatesAndRoyaltiesCurrent
|
68628000 | |
CY2019Q4 | ptct |
Sales Rebates And Royalties Current
SalesRebatesAndRoyaltiesCurrent
|
42997000 | |
CY2020Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
15663000 | |
CY2019Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
10324000 | |
CY2020Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
5417000 | |
CY2019Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
9380000 | |
CY2020Q3 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
218561000 | |
CY2019Q4 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
159276000 | |
CY2020Q3 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
173956 | |
us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
542470 | ||
CY2020Q3 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
9100000 | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-173899000 | ||
CY2019Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-59997000 | |
CY2020Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
67641171 | |
CY2019Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
56463528 | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
65068281 | ||
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
57798968 | ||
CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.03 | |
CY2019Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.06 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-5.59 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-3.01 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
12490036 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
11393284 | ||
CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
16779000 | |
CY2019Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
10484000 | |
CY2020Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
9600000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
30668000 | ||
CY2020Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
173200000 | |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y10M28D | ||
CY2020Q3 | ptct |
Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
|
650000000.0 | |
CY2020Q3 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.110 | |
CY2020Q3 | ptct |
Liability Sale Of Future Royalties Obligation Incurred
LiabilitySaleOfFutureRoyaltiesObligationIncurred
|
650000000 | |
ptct |
Liability Sale Of Future Royalties Obligation Incurred
LiabilitySaleOfFutureRoyaltiesObligationIncurred
|
650000000 | ||
CY2020Q3 | ptct |
Liability Sale Of Future Royalties Royalty Revenue Payable
LiabilitySaleOfFutureRoyaltiesRoyaltyRevenuePayable
|
299000 | |
ptct |
Liability Sale Of Future Royalties Royalty Revenue Payable
LiabilitySaleOfFutureRoyaltiesRoyaltyRevenuePayable
|
299000 | ||
CY2020Q3 | ptct |
Liability Sale Of Future Royalties Interest Expense
LiabilitySaleOfFutureRoyaltiesInterestExpense
|
14557000 | |
ptct |
Liability Sale Of Future Royalties Interest Expense
LiabilitySaleOfFutureRoyaltiesInterestExpense
|
14557000 | ||
CY2020Q3 | ptct |
Liability Sale Of Future Royalties
LiabilitySaleOfFutureRoyalties
|
664258000 | |
CY2020Q3 | ptct |
Liability Sale Of Future Royalties
LiabilitySaleOfFutureRoyalties
|
664258000 | |
CY2020Q3 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.110 | |
CY2020Q3 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.110 | |
ptct |
Debt Instrument Additional Amount Available For Repurchase
DebtInstrumentAdditionalAmountAvailableForRepurchase
|
37500000 | ||
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
CY2020Q3 | ptct |
Numberofdistributors
Numberofdistributors
|
2 | |
CY2019Q3 | ptct |
Numberofdistributors
Numberofdistributors
|
2 | |
CY2019Q3 | ptct |
Percentageofnetproductsales
Percentageofnetproductsales
|
0.10 | |
CY2020Q3 | ptct |
Percentageofnetproductsales
Percentageofnetproductsales
|
0.10 | |
ptct |
Numberofdistributors
Numberofdistributors
|
2 | ||
ptct |
Numberofdistributors
Numberofdistributors
|
2 | ||
ptct |
Percentageofnetproductsales
Percentageofnetproductsales
|
0.10 | ||
ptct |
Percentageofnetproductsales
Percentageofnetproductsales
|
0.10 | ||
CY2020Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
6000000.0 | |
CY2019Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
11700000 | |
CY2020Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2000000.0 | |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
6000000.0 | ||
CY2019Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2300000 | |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
2300000 | ||
CY2020Q3 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
6000000.0 | |
CY2019Q4 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
11700000 | |
CY2020Q3 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P1Y | |
us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P7Y | ||
CY2019Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
7000000.0 | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
26300000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
19700000 | ||
CY2020Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
9627000 | |
CY2020Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
38506000 | |
CY2020Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
38506000 | |
CY2020Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
38506000 | |
CY2020Q3 | ptct |
Finite Lived Intangible Asset Expected Amortization Year Four And Thereafter
FiniteLivedIntangibleAssetExpectedAmortizationYearFourAndThereafter
|
10891000 | |
CY2020Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
136036000 | |
us-gaap |
Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
|
576500000 | ||
us-gaap |
Indefinite Lived Intangible Assets Period Increase Decrease
IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease
|
0 | ||
CY2020Q3 | us-gaap |
Goodwill
Goodwill
|
82300000 | |
us-gaap |
Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
|
0 | ||
CY2020Q3 | us-gaap |
Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
|
0 |