$PTCT
PTC THERAPEUTICS, INC.

2021 Q4 Form 10-Q Financial Statement

#000107008121000037 Filed on October 28, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $165.2M $138.7M $118.4M
YoY Change 38.96% 17.18% 65.79%
Cost Of Revenue $9.327M $6.539M $4.700M
YoY Change 90.35% 39.13% 56.35%
Gross Profit $155.9M $132.2M $113.7M
YoY Change 36.76% 16.27% 66.2%
Gross Profit Margin 94.36% 95.29% 96.03%
Selling, General & Admin $86.55M $69.25M $57.84M
YoY Change 14.63% 19.73% 17.36%
% of Gross Profit 55.51% 52.38% 50.87%
Research & Development $149.8M $130.8M $93.00M
YoY Change 26.99% 40.7% 47.44%
% of Gross Profit 96.11% 98.97% 81.79%
Depreciation & Amortization $18.81M $16.75M $11.64M
YoY Change 51.7% 43.9% 43.0%
% of Gross Profit 12.07% 12.67% 10.24%
Operating Expenses $240.6M $231.8M $173.5M
YoY Change 11.8% 33.59% 31.57%
Operating Profit -$84.73M -$93.08M -$55.13M
YoY Change -12.08% 68.83% -8.84%
Interest Expense -$41.40M -$21.80M -$21.04M
YoY Change 70.38% 3.63% 689.16%
% of Operating Profit
Other Income/Expense, Net -$12.48M -$18.78M $28.77M
YoY Change -121.18% -165.29% 927.36%
Pretax Income -$138.6M -$133.7M -$47.40M
YoY Change 124.65% 181.96% -21.44%
Income Tax $4.657M -$36.00K $22.29M
% Of Pretax Income
Net Earnings -$143.3M -$133.6M -$69.69M
YoY Change 92.68% 91.74% 16.16%
Net Earnings / Revenue -86.71% -96.31% -58.86%
Basic Earnings Per Share -$1.89
Diluted Earnings Per Share -$2.027M -$1.893M -$1.031M
COMMON SHARES
Basic Shares Outstanding 70.70M 70.60M 67.70M shares
Diluted Shares Outstanding 70.59M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $773.4M $867.9M $1.141B
YoY Change -29.93% -23.93% 61.02%
Cash & Equivalents $189.7M $189.8M $434.0M
Short-Term Investments $583.7M $678.1M $707.0M
Other Short-Term Assets $54.68M $30.94M $26.90M
YoY Change 38.43% 15.01% 29.95%
Inventory $15.86M $15.61M $19.48M
Prepaid Expenses
Receivables $110.5M $96.65M $56.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $954.4M $1.011B $1.244B
YoY Change -22.52% -18.73% 54.2%
LONG-TERM ASSETS
Property, Plant & Equipment $52.59M $46.35M $28.14M
YoY Change 55.43% 64.72% 52.25%
Goodwill $82.34M $82.34M $82.30M
YoY Change 0.0% 0.05% 0.0%
Intangibles $724.8M $723.3M $712.5M
YoY Change 1.33% 1.51% 1.37%
Long-Term Investments
YoY Change
Other Assets $46.50M $65.53M $28.10M
YoY Change -23.27% 133.21% 63.37%
Total Long-Term Assets $983.7M $996.2M $936.9M
YoY Change 0.73% 6.33% 12.25%
TOTAL ASSETS
Total Short-Term Assets $954.4M $1.011B $1.244B
Total Long-Term Assets $983.7M $996.2M $936.9M
Total Assets $1.938B $2.007B $2.181B
YoY Change -12.24% -7.97% 32.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.03M $21.46M $15.66M
YoY Change 23.4% 37.02% 74.83%
Accrued Expenses $105.6M $82.05M $68.00M
YoY Change 14.81% 20.66% 34.12%
Deferred Revenue $5.992M
YoY Change -31.99%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $149.5M $149.4M $0.00
YoY Change 570.58% -100.0%
Total Short-Term Liabilities $509.3M $465.3M $253.8M
YoY Change 83.66% 83.3% 38.32%
LONG-TERM LIABILITIES
Long-Term Debt $281.9M $281.6M $303.0M
YoY Change -8.81% -7.05% 3.35%
Other Long-Term Liabilities $313.5M $1.376M $1.968M
YoY Change 22422.92% -30.08% -79.19%
Total Long-Term Liabilities $281.9M $283.0M $304.9M
YoY Change -9.22% -7.2% 0.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $509.3M $465.3M $253.8M
Total Long-Term Liabilities $281.9M $283.0M $304.9M
Total Liabilities $1.937B $1.902B $1.670B
YoY Change 12.18% 13.91% 70.8%
SHAREHOLDERS EQUITY
Retained Earnings -$2.098B -$1.955B -$1.555B
YoY Change 28.8% 25.74% 39.69%
Common Stock $71.00K $70.00K $68.00K
YoY Change 1.43% 2.94% 11.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.438M $104.9M $511.0M
YoY Change
Total Liabilities & Shareholders Equity $1.938B $2.007B $2.181B
YoY Change -12.24% -7.97% 32.87%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$143.3M -$133.6M -$69.69M
YoY Change 92.68% 91.74% 16.16%
Depreciation, Depletion And Amortization $18.81M $16.75M $11.64M
YoY Change 51.7% 43.9% 43.0%
Cash From Operating Activities -$68.84M -$51.19M $26.65M
YoY Change 6.96% -292.08% -271.94%
INVESTING ACTIVITIES
Capital Expenditures -$8.726M -$5.844M -$3.310M
YoY Change 37.42% 76.56% -22.12%
Acquisitions
YoY Change
Other Investing Activities $77.00M $70.55M -$390.9M
YoY Change -138.16% -118.05% -1227.19%
Cash From Investing Activities $68.27M $64.70M -$394.2M
YoY Change -132.81% -116.41% -1395.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.354M 2.976M 643.1M
YoY Change -89.14% -99.54% 68.18%
NET CHANGE
Cash From Operating Activities -68.84M -51.19M 26.65M
Cash From Investing Activities 68.27M 64.70M -394.2M
Cash From Financing Activities 4.354M 2.976M 643.1M
Net Change In Cash 3.788M 16.49M 275.5M
YoY Change -101.63% -94.01% -30.66%
FREE CASH FLOW
Cash From Operating Activities -$68.84M -$51.19M $26.65M
Capital Expenditures -$8.726M -$5.844M -$3.310M
Free Cash Flow -$60.11M -$45.35M $29.96M
YoY Change 3.63% -251.36% -366.31%

Facts In Submission

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CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
0
us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
0
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
0
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
13262000
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-24695000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
29501000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-26782000
CY2021Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-120498000
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-95403000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-352640000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
196577000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2976000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
25871000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-133624000
CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
13126000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
104926000
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
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-69692000
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-25711000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
510954000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
481982000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
16120000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
2627000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
77277000
us-gaap Net Income Loss
NetIncomeLoss
-380636000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
27996000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
104926000
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 Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
48909000
us-gaap Stockholders Equity Other
StockholdersEquityOther
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
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
45323000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31088000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
5516000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4295000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
41382000
ptct Noncash Royalty Revenue Sale Of Future Royalties
NoncashRoyaltyRevenueSaleOfFutureRoyalties
14317000
ptct Noncash Royalty Revenue Sale Of Future Royalties
NoncashRoyaltyRevenueSaleOfFutureRoyalties
299000
ptct Noncash Interest Expense Liability Related To Sale Of Future Royalties
NoncashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties
57755000
ptct Noncash Interest Expense Liability Related To Sale Of Future Royalties
NoncashInterestExpenseLiabilityRelatedToSaleOfFutureRoyalties
14557000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
11600000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
16980000
ptct Settlement Of Deferred And Contingent Consideration
SettlementOfDeferredAndContingentConsideration
10613000
ptct Shares Issued Asset Acquisition
SharesIssuedAssetAcquisition
42869000
ptct Clearpoint Equity Investment Fvni Unrealized Gain Loss
ClearpointEquityInvestmentFvniUnrealizedGainLoss
2376000
ptct Clearpoint Equity Investment Fvni Unrealized Gain Loss
ClearpointEquityInvestmentFvniUnrealizedGainLoss
852000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
2054000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
633000
us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
1350000
us-gaap Paid In Kind Interest
PaidInKindInterest
16678000
us-gaap Gain Loss On Disposition Of Assets1
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-25000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
559000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1377000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
766000
us-gaap Share Based Compensation
ShareBasedCompensation
77277000
us-gaap Share Based Compensation
ShareBasedCompensation
48909000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
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-33280000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
27077000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-2476000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-390000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-8161000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
9289000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
28625000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-121000
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
444000
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
217000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8888000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
54390000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-4340000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-4055000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-182492000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19487000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11491000
ptct Payments To Acquire Convertible Debt Investment
PaymentsToAcquireConvertibleDebtInvestment
10000000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
276376000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1006946000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
205382000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
693319000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
700627000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
740000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
41806000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
100000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
25618000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
150908000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-353428000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
16120000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
32987000
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
597000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
28092000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
28333000
ptct Payments On Deferred Consideration Obligation
PaymentsOnDeferredConsiderationObligation
38100000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
2627000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
2406000
ptct Payment Of Finance Lease Principal
PaymentOfFinanceLeasePrincipal
2224000
ptct Payment Of Finance Lease Principal
PaymentOfFinanceLeasePrincipal
17829000
ptct Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
650000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16523000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
628626000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-3933000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
449000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18994000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
145942000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
216312000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
295528000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197318000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
441470000
us-gaap Interest Paid Net
InterestPaidNet
9589000
us-gaap Interest Paid Net
InterestPaidNet
9802000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5527000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1562000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-1505000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
1639000
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 Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
41382000
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
19154000
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
13786000
ptct Stock Issued During Period Value Exchange Rights
StockIssuedDuringPeriodValueExchangeRights
150528000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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us-gaap Use Of Estimates
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<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>
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
7500000
ptct Termforletterofcredit
Termforletterofcredit
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
189818000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
208812000
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
7500000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
7500000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197318000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
216312000
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2021Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
1464000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
824000
CY2021Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
8019000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
8745000
CY2021Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
6130000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
9128000
CY2021Q3 us-gaap Inventory Net
InventoryNet
15613000
CY2020Q4 us-gaap Inventory Net
InventoryNet
18697000
CY2021Q3 us-gaap Inventory Write Down
InventoryWriteDown
500000
us-gaap Inventory Write Down
InventoryWriteDown
2200000
CY2020Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2021Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2021Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
300000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
100000
CY2020Q3 ptct Assigned Royalty Payment Retained Percentage
AssignedRoyaltyPaymentRetainedPercentage
0.57067
CY2021Q3 ptct Revenue Recognition Milestone Potential Achievements
RevenueRecognitionMilestonePotentialAchievements
325000000.0
us-gaap Operating Lease Cost
OperatingLeaseCost
7896000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1149000
ptct Deferred Payroll Tax Liability Cares Act
DeferredPayrollTaxLiabilityCaresAct
2500000
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
122000000.0
CY2021Q3 ptct Number Of Operating Leases
NumberOfOperatingLeases
3
CY2021Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
2600000
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
20100000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1300000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23100000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
5300000
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
5200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
15900000
us-gaap Operating Lease Expense
OperatingLeaseExpense
10200000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4059000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4097000
us-gaap Operating Lease Cost
OperatingLeaseCost
12277000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
890000
us-gaap Variable Lease Cost
VariableLeaseCost
3235000
us-gaap Variable Lease Cost
VariableLeaseCost
1914000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
122000
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
175000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
405000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
340000
CY2021Q3 ptct Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
5330000
CY2020Q3 ptct Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
5162000
ptct Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
15917000
ptct Lease Cost Excluding Finance Lease Costs
LeaseCostExcludingFinanceLeaseCosts
10150000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
78699000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
84410000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7144000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7465000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
74823000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
79499000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
81967000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
86964000
CY2021Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
2557000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1276000
CY2021Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
20053000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
23053000
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
22610000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
24329000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y25D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y5M26D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0892
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0886
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y3M
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P12Y
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0780
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0780
ptct Clearpoint Equity Investment Fvni Unrealized Gain Loss
ClearpointEquityInvestmentFvniUnrealizedGainLoss
2400000
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
22610000
CY2021Q3 ptct Clearpoint Equity Investment Fvni Unrealized Gain Loss
ClearpointEquityInvestmentFvniUnrealizedGainLoss
-1700000
us-gaap Operating Lease Payments
OperatingLeasePayments
10254000
us-gaap Operating Lease Payments
OperatingLeasePayments
5611000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2224000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
17829000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
776000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
171000
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 Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
41382000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3417000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13235000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3000000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12843000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3000000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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12150000
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q3 us-gaap Finance Lease Liability Payments Due
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us-gaap Equity Securities Fv Ni Unrealized Loss
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CY2021Q3 ptct Fair Value Assets Transfers Between Level1 Level2 And Level3 Amount
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CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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1975000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
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0
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Writeoff
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
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CY2020Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
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0
us-gaap Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
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0
CY2021Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Period Increase Decrease
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0
CY2021Q3 us-gaap Marketable Securities Realized Gain Loss
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CY2020Q3 us-gaap Marketable Securities Realized Gain Loss
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CY2021Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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SalesAllowanceAndOtherRelatedCosts
60980000
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SalesAllowanceAndOtherRelatedCosts
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AccountsPayableCurrent
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CY2020Q4 us-gaap Other Accrued Liabilities Current
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252329000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
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242168000
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 Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
28100000
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0
CY2021Q3 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
125000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-133624000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-69692000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-380636000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-363806000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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70585938
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67641171
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
70397846
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65068281
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.89
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.03
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-5.41
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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12418346
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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12490036
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25871000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16779000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
77277000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48909000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
226300000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M15D
CY2020Q3 ptct Proceeds From Sale Of Future Royalties
ProceedsFromSaleOfFutureRoyalties
650000000.0
CY2020Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.110
CY2020Q4 ptct Liability Sale Of Future Royalties
LiabilitySaleOfFutureRoyalties
679762000
ptct Liability Sale Of Future Royalties Royalty Revenue Payable
LiabilitySaleOfFutureRoyaltiesRoyaltyRevenuePayable
14317000
ptct Liability Sale Of Future Royalties Interest Expense
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57755000
CY2021Q3 ptct Liability Sale Of Future Royalties
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723200000
CY2021Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.11
us-gaap Number Of Operating Segments
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1
CY2021Q3 ptct Numberofdistributors
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2
CY2020Q3 ptct Numberofdistributors
Numberofdistributors
2
ptct Numberofdistributors
Numberofdistributors
2
ptct Numberofdistributors
Numberofdistributors
2
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4200000
CY2021Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
0
CY2020Q4 us-gaap Contract With Customer Asset Net Current
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0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4000000.0
CY2020Q3 us-gaap Contract With Customer Liability Revenue Recognized
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2000000.0
us-gaap Contract With Customer Liability Revenue Recognized
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6000000.0
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
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0
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
4200000
CY2021Q3 us-gaap Amortization Of Intangible Assets
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14400000
CY2020Q3 us-gaap Amortization Of Intangible Assets
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9600000
us-gaap Amortization Of Intangible Assets
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38400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
26300000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
14413000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
57650000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
57650000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
9905000
CY2021Q3 ptct Finite Lived Intangible Assets Amortization Expense Year Four And Thereafter
FiniteLivedIntangibleAssetsAmortizationExpenseYearFourAndThereafter
7142000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
146760000
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
576500000
us-gaap Indefinite Lived Intangible Assets Period Increase Decrease
IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease
0
CY2018Q3 us-gaap Goodwill
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82300000
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2021Q3 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0

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