$PTCT
PTC Therapeutics Inc Stock $ptct

$ptct Overview Financials Valuation SEC Filings Company Website

2022 Q3 Form 10-Q Financial Statement

#000107008122000031 Filed on August 04, 2022

Income Statement

Concept	2022 Q3	2022 Q2	2022 Q1
Revenue	$217.1M	$165.5M	$148.7M
YoY Change	56.5%	41.87%	26.11%
Cost Of Revenue	$14.01M	$9.639M	$10.14M
YoY Change	114.27%	31.0%	11.37%
Gross Profit	$203.1M	$155.9M	$138.6M
YoY Change	53.64%	42.6%	27.39%
Gross Profit Margin	93.55%	94.18%	93.19%
Selling, General & Admin	$80.12M	$79.89M	$73.27M
YoY Change	15.69%	15.99%	19.93%
% of Gross Profit	39.44%	51.25%	52.87%
Research & Development	$165.5M	$157.3M	$140.1M
YoY Change	26.46%	25.33%	4.14%
% of Gross Profit	81.46%	100.88%	101.07%
Depreciation & Amortization	$34.48M	$29.18M	$26.31M
YoY Change	105.83%	94.75%	93.67%
% of Gross Profit	16.97%	18.72%	18.99%
Operating Expenses	$285.3M	$257.9M	$235.3M
YoY Change	23.08%	19.85%	8.87%
Operating Profit	-$68.19M	-$92.36M	-$86.52M
YoY Change	-26.74%	-6.22%	-11.85%
Interest Expense	-$20.88M	-$21.98M	-$23.51M
YoY Change	-4.23%	-2.58%	22.73%
% of Operating Profit
Other Income/Expense, Net	-$38.14M	-$34.36M	-$11.86M
YoY Change	103.07%	-1183.82%	8.92%
Pretax Income	-$127.2M	-$148.7M	-$121.9M
YoY Change	-4.83%	26.14%	-4.91%
Income Tax	-$17.89M	$3.392M	$4.835M
% Of Pretax Income
Net Earnings	-$109.3M	-$152.1M	-$126.7M
YoY Change	-18.19%	28.48%	-1.49%
Net Earnings / Revenue	-50.35%	-91.88%	-85.2%
Basic Earnings Per Share	-$1.53	-$2.13	-$1.78
Diluted Earnings Per Share	-$1.53	-$2.62	-$1.78
COMMON SHARES
Basic Shares Outstanding	71.54M	71.37M	71.22M
Diluted Shares Outstanding	71.65M	71.37M	71.22M

Balance Sheet

Concept	2022 Q3	2022 Q2	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$288.4M	$505.5M	$587.8M
YoY Change	-66.77%	-46.62%	-40.53%
Cash & Equivalents	$104.4M	$158.2M	$144.2M
Short-Term Investments	$184.0M	$347.4M	$443.6M
Other Short-Term Assets	$89.56M	$38.18M	$29.65M
YoY Change	189.48%	59.7%	25.62%
Inventory	$14.81M	$15.00M	$15.28M
Prepaid Expenses
Receivables	$124.5M	$135.9M	$141.3M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$517.3M	$694.7M	$774.0M
YoY Change	-48.84%	-34.85%	-31.04%
LONG-TERM ASSETS
Property, Plant & Equipment	$66.89M	$64.91M	$59.09M
YoY Change	44.3%	51.28%	59.17%
Goodwill	$82.30M	$82.30M	$82.30M
YoY Change	-0.05%	-0.05%	0.0%
Intangibles	$749.9M	$760.2M	$763.7M
YoY Change	3.68%	6.01%	7.17%
Long-Term Investments
YoY Change
Other Assets	$55.12M	$60.34M	$44.40M
YoY Change	-15.89%	-13.07%	-40.96%
Total Long-Term Assets	$1.059B	$1.109B	$1.026B
YoY Change	6.32%	11.78%	3.64%
TOTAL ASSETS
Total Short-Term Assets	$517.3M	$694.7M	$774.0M
Total Long-Term Assets	$1.059B	$1.109B	$1.026B
Total Assets	$1.576B	$1.804B	$1.800B
YoY Change	-21.47%	-12.37%	-14.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$20.86M	$22.88M	$18.37M
YoY Change	-2.8%	9.9%	-3.92%
Accrued Expenses	$99.12M	$89.01M	$79.52M
YoY Change	20.81%	16.24%	16.08%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$80.55M	$149.9M	$149.7M
YoY Change	-46.07%	222.69%	330.23%
Total Short-Term Liabilities	$420.1M	$567.4M	$476.8M
YoY Change	-9.71%	95.0%	89.99%
LONG-TERM LIABILITIES
Long-Term Debt	$282.7M	$282.5M	$282.2M
YoY Change	0.41%	-34.39%	-34.38%
Other Long-Term Liabilities	$4.686M	$300.4M	$300.6M
YoY Change	240.55%	21477.08%	21497.13%
Total Long-Term Liabilities	$287.4M	$282.5M	$282.2M
YoY Change	1.57%	-34.6%	-34.6%
TOTAL LIABILITIES
Total Short-Term Liabilities	$420.1M	$567.4M	$476.8M
Total Long-Term Liabilities	$287.4M	$282.5M	$282.2M
Total Liabilities	$1.803B	$1.986B	$1.890B
YoY Change	-5.21%	6.67%	3.89%
SHAREHOLDERS EQUITY
Retained Earnings	-$2.486B	-$2.377B	-$2.225B
YoY Change	27.19%	30.51%	30.66%
Common Stock	$71.00K	$71.00K	$71.00K
YoY Change	1.43%	1.43%	1.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$226.9M	-$182.2M	-$90.58M
YoY Change
Total Liabilities & Shareholders Equity	$1.576B	$1.804B	$1.800B
YoY Change	-21.47%	-12.37%	-14.79%

Cashflow Statement

Concept	2022 Q3	2022 Q2	2022 Q1
OPERATING ACTIVITIES
Net Income	-$109.3M	-$152.1M	-$126.7M
YoY Change	-18.19%	28.48%	-1.49%
Depreciation, Depletion And Amortization	$34.48M	$29.18M	$26.31M
YoY Change	105.83%	94.75%	93.67%
Cash From Operating Activities	-$38.05M	-$55.24M	-$97.40M
YoY Change	-25.68%	77.39%	-2.75%
INVESTING ACTIVITIES
Capital Expenditures	-$5.382M	-$8.700M	$9.312M
YoY Change	-7.91%	9.12%	64.26%
Acquisitions
YoY Change
Other Investing Activities	$141.8M	$80.95M	$58.36M
YoY Change	101.04%	26.44%	62.91%
Cash From Investing Activities	$136.4M	$72.25M	$49.04M
YoY Change	110.88%	28.9%	62.68%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-140.0M	3.861M	1.168M
YoY Change	-4804.13%	-3.88%	-87.75%
NET CHANGE
Cash From Operating Activities	-38.05M	-55.24M	-97.40M
Cash From Investing Activities	136.4M	72.25M	49.04M
Cash From Financing Activities	-140.0M	3.861M	1.168M
Net Change In Cash	-41.60M	20.87M	-45.54M
YoY Change	-352.24%	-27.85%	-26.76%
FREE CASH FLOW
Cash From Operating Activities	-$38.05M	-$55.24M	-$97.40M
Capital Expenditures	-$5.382M	-$8.700M	$9.312M
Free Cash Flow	-$32.66M	-$46.54M	-$106.7M
YoY Change	-27.97%	100.88%	0.84%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2022-06-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	001-35969
	dei	City Area Code CityAreaCode	908
	dei	Local Phone Number LocalPhoneNumber	222-7000
	ptct	Lease Cost Excluding Finance Lease Costs LeaseCostExcludingFinanceLeaseCosts	11229000
CY2021Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	3000000
CY2022Q2	ptct	Liability Sale Of Future Royalties Current LiabilitySaleOfFutureRoyaltiesCurrent	74022000
	dei	Entity Central Index Key EntityCentralIndexKey	0001070081
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Amendment Flag AmendmentFlag	false
CY2022Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-186962000
CY2021Q2	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-118370000
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-313688000
	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-247012000
CY2022Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	71372940
CY2021Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	70414632
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	71294458
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	70302241
CY2022Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-2.62
CY2021Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.68
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-4.40
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-3.51
CY2022Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	71505889
CY2021Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	70828226
	dei	Document Type DocumentType	10-Q
	dei	Entity Registrant Name EntityRegistrantName	PTC Therapeutics, Inc.
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	04-3416587
	dei	Entity Address Address Line1 EntityAddressAddressLine1	100 Corporate Court
	dei	Entity Address City Or Town EntityAddressCityOrTown	South Plainfield
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	07080
	dei	Security12b Title Security12bTitle	Common Stock, $0.001 par value per share
	dei	Trading Symbol TradingSymbol	PTCT
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
CY2022Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	71540965
CY2022Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	158158000
CY2021Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	189718000
CY2022Q2	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	347387000
CY2021Q4	us-gaap	Marketable Securities Current MarketableSecuritiesCurrent	583658000
CY2022Q2	us-gaap	Receivables Net Current ReceivablesNetCurrent	135943000
CY2021Q4	us-gaap	Receivables Net Current ReceivablesNetCurrent	110455000
CY2022Q2	us-gaap	Inventory Net InventoryNet	15004000
CY2021Q4	us-gaap	Inventory Net InventoryNet	15856000
CY2022Q2	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	38184000
CY2021Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	54681000
CY2022Q2	us-gaap	Assets Current AssetsCurrent	694676000
CY2021Q4	us-gaap	Assets Current AssetsCurrent	954368000
CY2022Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	64913000
CY2021Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	52585000
CY2022Q2	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	760154000
CY2021Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	724841000
CY2022Q2	us-gaap	Goodwill Goodwill	82341000
CY2021Q4	us-gaap	Goodwill Goodwill	82341000
CY2022Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	141635000
CY2021Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	77421000
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CY2021Q4	ptct	Deposits And Other Assets Noncurrent DepositsAndOtherAssetsNoncurrent	46500000
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CY2022Q2	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	330918000
CY2021Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	288784000
CY2022Q2	us-gaap	Long Term Debt Current LongTermDebtCurrent	149908000
CY2021Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	149540000
CY2022Q2	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	8898000
CY2021Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	7273000
CY2022Q2	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	2174000
CY2021Q4	ptct	Liability Sale Of Future Royalties Current LiabilitySaleOfFutureRoyaltiesCurrent	59291000
CY2022Q2	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1451000
CY2021Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	1460000
CY2021Q4	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	239900000
CY2022Q2	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	137110000
CY2021Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	137110000
CY2022Q2	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	137353000
CY2021Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	73619000
CY2022Q2	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	18675000
CY2022Q2	us-gaap	Liabilities Current LiabilitiesCurrent	567371000
CY2021Q4	us-gaap	Liabilities Current LiabilitiesCurrent	509348000
CY2022Q2	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	282460000
CY2021Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	281894000
CY2022Q2	us-gaap	Business Combination Contingent Consideration Liability Noncurrent BusinessCombinationContingentConsiderationLiabilityNoncurrent	163000000
CY2021Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	20053000
CY2022Q2	ptct	Liability Sale Of Future Royalties Noncurrent LiabilitySaleOfFutureRoyaltiesNoncurrent	680306000
CY2021Q4	ptct	Liability Sale Of Future Royalties Noncurrent LiabilitySaleOfFutureRoyaltiesNoncurrent	674694000
CY2022Q2	us-gaap	Liabilities Liabilities	1986275000
CY2021Q4	us-gaap	Liabilities Liabilities	1936618000
CY2021Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2022Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000
CY2022Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	71505889
CY2021Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	250000000
CY2021Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	70828226
CY2022Q2	us-gaap	Common Stock Value CommonStockValue	71000
CY2021Q4	us-gaap	Common Stock Value CommonStockValue	71000
CY2022Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2184230000
CY2021Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	2123606000
CY2022Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	10251000
CY2021Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	-24282000
CY2022Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-2376770000
CY2021Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-2097957000
CY2022Q2	us-gaap	Stockholders Equity StockholdersEquity	-182218000
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	1438000
CY2022Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1804057000
CY2021Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	1938056000
CY2022Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	165526000
CY2021Q2	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	116676000
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	314262000
	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	234620000
CY2022Q2	ptct	Costof Goodsand Service Excluding Amortization Of Intangible Assets CostofGoodsandServiceExcludingAmortizationOfIntangibleAssets	9639000
CY2021Q2	ptct	Costof Goodsand Service Excluding Amortization Of Intangible Assets CostofGoodsandServiceExcludingAmortizationOfIntangibleAssets	7358000
	ptct	Costof Goodsand Service Excluding Amortization Of Intangible Assets CostofGoodsandServiceExcludingAmortizationOfIntangibleAssets	19774000
	ptct	Costof Goodsand Service Excluding Amortization Of Intangible Assets CostofGoodsandServiceExcludingAmortizationOfIntangibleAssets	16462000
CY2022Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	26294000
CY2021Q2	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	12751000
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	49767000
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	24028000
CY2022Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	157263000
CY2021Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	125482000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	297341000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	259995000
CY2022Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	79892000
CY2021Q2	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	68878000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	153162000
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	129973000
CY2022Q2	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1	15200000
CY2021Q2	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1	-700000
	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1	26900000
	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Asset1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationAsset1	-800000
CY2022Q2	us-gaap	Operating Expenses OperatingExpenses	257888000
CY2021Q2	us-gaap	Operating Expenses OperatingExpenses	215169000
	us-gaap	Operating Expenses OperatingExpenses	493144000
	us-gaap	Operating Expenses OperatingExpenses	431258000
CY2022Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-92362000
CY2021Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-98493000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-178882000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-196638000
CY2022Q2	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-21976000
CY2021Q2	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-22559000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-45490000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	-41718000
CY2022Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-34357000
CY2021Q2	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	3170000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-46214000
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-7716000
CY2022Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-148695000
CY2021Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-117882000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-270586000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-246072000
CY2022Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	3392000
CY2021Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	488000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	8227000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	940000
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-152087000
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-118370000
	us-gaap	Net Income Loss NetIncomeLoss	-278813000
	us-gaap	Net Income Loss NetIncomeLoss	-247012000
CY2022Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	71372940
CY2021Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	70414632
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	71294458
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	70302241
CY2022Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-2.13
CY2021Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.68
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-3.91
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-3.51
CY2022Q2	us-gaap	Net Income Loss NetIncomeLoss	-152087000
CY2021Q2	us-gaap	Net Income Loss NetIncomeLoss	-118370000
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	us-gaap	Nature Of Operations NatureOfOperations	<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 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;">June 30, 2022</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">In thousands (except share and per share amounts 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. PTC’s ability to innovate to identify new therapies and to globally commercialize products is the foundation that drives investment in a robust and diversified pipeline of transformative medicines. PTC’s mission is to provide access to best-in-class treatments for patients who have few or no treatment options. PTC’s strategy is to leverage its strong scientific and clinical expertise and global commercial infrastructure to bring therapies to patients. PTC believes that this allows it to maximize value for all of its stakeholders. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">PTC has a portfolio pipeline that includes several commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focused on the development of new treatments for multiple therapeutic areas for rare diseases.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company has two products, Translarna™ (ataluren) and Emflaza® (deflazacort), for the treatment of Duchenne muscular dystrophy (“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 Russia for the treatment of nmDMD in patients aged two years and older. 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. Translarna also has marketing authorization in Brazil for the treatment of nmDMD in ambulatory patients two years and older and for continued treatment of patients that become non-ambulatory. Emflaza is approved in the United States for the treatment of DMD in patients two years and older. </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 Upstaza (eladocagene exuparvovec), formerly known as PTC-AADC, for the treatment of Aromatic L-Amino Acid Decarboxylase (“AADC”) deficiency (“AADC deficiency”), a rare CNS disorder arising from reductions in the enzyme AADC that results from mutations in the dopa decarboxylase gene. In July 2022, the European Commission approved Upstaza for the treatment of AADC deficiency for patients 18 months and older within the EEA. The Company is also preparing a biologics license application (“BLA”) for Upstaza for the treatment of AADC deficiency in the United States. In response to discussions with the United States Food and Drug Administration (“FDA”), the Company intends to provide additional information concerning the use of the commercial cannula for Upstaza in young patients. The Company expects to submit a BLA to the FDA in the fourth quarter of 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin: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 Collaboration and License Agreement (the “Tegsedi-Waylivra Agreement”), dated August 1, 2018, by and between the Company and Akcea Therapeutics, Inc. (“Akcea”), a subsidiary of Ionis Pharmaceuticals, Inc. 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”). The Company began to make commercial sales of Tegsedi for the treatment of hATTR amyloidosis in Brazil in the second quarter of 2022 and it continues to make Tegsedi available in certain other countries within Latin America and the Caribbean through early access programs (“EAP Programs”). In August 2021, ANVISA, the Brazilian health regulatory authority, approved Waylivra as the first treatment for familial chylomicronemia syndrome (“FCS”) in Brazil and the Company began to make commercial sales of Waylivra in Brazil in the third quarter of 2022 while continuing to make Waylivra available in certain other countries within Latin America and the Caribbean through EAP Programs. Waylivra has also received marketing authorization in the EU for the treatment of FCS. Additionally, the Company submitted an application to ANVISA in December 2021 for the approval of </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Waylivra for the treatment of familial partial lipodystrophy, and it expects a regulatory decision on approval in the second half of 2022.</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 by the FDA in August 2020 for the treatment of SMA in adults and children two months and older and by the European Commission in March 2021 for the treatment of 5q SMA in patients two months and older with a clinical diagnosis of SMA Type 1, Type 2 or Type 3 or with one to four SMN2 copies. Evrysdi also received marketing authorization for the treatment of SMA in Brazil in October 2020 and Japan in June 2021. In May 2022, the FDA approved a label expansion for Evrysdi to include infants under two months old with SMA. In addition to the Company’s SMA program, the Company’s splicing platform also includes PTC518, which is being developed for the treatment of Huntington’s disease (“HD”). The Company announced the results from its Phase 1 study of PTC518 in healthy volunteers in September 2021 demonstrating dose-dependent lowering of huntingtin messenger ribonucleic acid and protein levels, that PTC518 efficiently crosses the blood brain barrier at significant levels and that PTC518 was well tolerated. The Company initiated a Phase 2 study of PTC518 for the treatment of HD in the first quarter of 2022, which consists of an initial 12-week placebo-controlled phase focused on safety, pharmacology and pharmacodynamic effects followed by a nine-month placebo-controlled phase focused on PTC518 biomarker effect. The Company expects data from the initial 12-week phase of the Phase 2 study by the end of 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s Bio-e platform consists of small molecule compounds that target oxidoreductase enzymes that regulate oxidative stress and inflammatory pathways central to the pathology of a number of CNS diseases. 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 children with mitochondrial disease associated seizures in the third quarter of 2020. The Company has experienced additional delays in enrolling this trial due to the COVID-19 pandemic and anticipates results from this trial to be available in the first quarter of 2023. The Company also initiated a registration-directed Phase 3 trial of vatiquinone in children and young adults with Friedreich ataxia in the fourth quarter of 2020 and anticipates results from this trial to be available in the second quarter of 2023. In the third quarter of 2021, the Company completed a Phase 1 trial in healthy volunteers to evaluate the safety and pharmacology of PTC857. PTC857 was found to be well-tolerated with no reported serious adverse events while demonstrating predictable pharmacology. The Company initiated a Phase 2 trial of PTC857 for amyotrophic lateral sclerosis in the first quarter of 2022.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The most advanced molecule in the Company’s metabolic platform is PTC923, an oral formulation of synthetic sepiapterin, a precursor to intracellular tetrahydrobiopterin, which is a critical enzymatic cofactor involved in metabolism and synthesis of numerous metabolic products, for orphan diseases. The Company initiated a registration-directed Phase 3 trial for PTC923 for phenylketonuria (“PKU”) in the third quarter of 2021 and expects results from this trial to be available by the end of 2022.</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 two oncology agents that are in clinical development, unesbulin and emvododstat. The Company completed its Phase 1 trials evaluating unesbulin in leiomyosarcoma (“LMS”) and diffuse intrinsic pontine glioma (“DIPG”) in the fourth quarter of 2021. The Company initiated a registration-directed Phase 2/3 trial of unesbulin for the treatment of LMS in the first quarter of 2022, and it expects to initiate a registration-directed Phase 2 trial of unesbulin for the treatment of DIPG in the third quarter of 2022. The Company completed its Phase 1 trial evaluating emvododstat in acute myelogenous leukemia (“AML”), in the fourth quarter of 2021. The Company expects to provide further updates regarding its emvododstat program at a later date.</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 Company initiated a Phase 2/3 clinical trial evaluating the efficacy and safety of emvododstat in patients hospitalized with COVID-19. In February 2021, the Company announced the completion of the first stage of the Phase 2/3 trial. Given the changing nature of the COVID-19 pandemic to the outpatient treatment setting, the Company concluded enrollment in the Phase 2/3 trial early to review the data collected to date and make a decision on next steps. Based upon the Company’s initial analyses of all randomized subjects, there was a trend towards emvododstat benefit across several disease relevant endpoints including reduced hospitalizations and time to reduction of fever. Additionally, within the cohort of patients enrolled within five days of infection, emvododstat demonstrated a benefit with respect to time to respiratory improvement, duration of hospitalization, dyspnea resolution and cough relief. The Company plans to complete the remaining data analyses and will then formulate a strategy for next steps.</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 for rare diseases.</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. The marketing authorization in the EEA was last renewed in June 2022 and is effective, unless extended, through August 5, 2023. 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 Company refers to the trial and open-label extension together as Study 041. In June 2022, the Company announced top-line results from the placebo-controlled trial of Study 041. Within the placebo-controlled trial, Translarna showed a statistically significant treatment benefit across the entire intent to treat population as assessed by the 6-minute walk test, assessing ambulation and endurance, and in lower-limb muscle function as assessed by the North Star Ambulatory Assessment, a functional scale designed for boys affected by DMD. Additionally, Translarna showed a statistically significant treatment benefit across the intent to treat population within the 10-meter run/walk and 4-stair stair climb, each assessing ambulation and burst activity, while also showing a positive trend in the 4-stair stair descend although not statistically significant. Within the primary analysis group, Translarna demonstrated a positive trend across all endpoints, however, statistical significance was not achieved. Translarna was also well tolerated. The Company expects to submit a report on the placebo-controlled trial and the open-label extension data that has been collected to date to the EMA by the end of the third quarter of 2022, as required.</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 PTC’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 followed the FDA’s recommendation and collected, using newer technologies via procedures and methods that the Company designed, such dystrophin data in a new study, Study 045, and announced the results of Study 045 in February 2021. Study 045 did not meet its pre-specified primary endpoint. In June 2022, the Company announced top-line results from the placebo-controlled trial of Study 041. The Company is preparing to have discussions with the FDA regarding a potential resubmission of the Translarna NDA.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">As of June 30, 2022, the Company had an accumulated deficit of approximately $2,376.8 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 9), public offerings of common stock in February 2014, October 2014, April 2018, January 2019, and September 2019, "at the market offering" of its common stock, its initial public offering of common stock in June 2013, proceeds from the Royalty Purchase Agreement dated as of July 17, 2020, by and among the Company, RPI 2019 Intermediate Finance Trust (“RPI”), and, solely for the limited purposes set forth therein, Royalty Pharma PLC (the “Royalty Purchase Agreement”) (see Note 2), private placements of its convertible preferred stock, collaborations, bank and institutional lender debt, 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 has also relied on revenue associated with milestone and royalty payments from Roche pursuant to the License and Collaboration Agreement (the “SMA License Agreement”) dated as of November 23, 2011, by and among the Company, Roche and, for the limited purposes set forth therein, the SMA Foundation, under its SMA program. 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>
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	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>
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CY2021Q2	us-gaap	Debt Securities Available For Sale Allowance For Credit Loss DebtSecuritiesAvailableForSaleAllowanceForCreditLoss	0
CY2022Q2	us-gaap	Debt Securities Available For Sale Allowance For Credit Loss DebtSecuritiesAvailableForSaleAllowanceForCreditLoss	0
CY2022Q2	us-gaap	Debt Securities Available For Sale Allowance For Credit Loss DebtSecuritiesAvailableForSaleAllowanceForCreditLoss	0
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CY2022Q2	us-gaap	Inventory Finished Goods InventoryFinishedGoods	6588000
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CY2021Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	20100000
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CY2021Q2	us-gaap	Operating Lease Expense OperatingLeaseExpense	5200000
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CY2021Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	0
CY2022Q2	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	0
CY2022Q2	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	0
CY2021Q2	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	1900000
CY2022Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	105466000
	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	4000000.0
CY2021Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	0
CY2022Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	0
CY2022Q2	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	52733000
CY2022Q2	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	183653000
	us-gaap	Indefinitelived Intangible Assets Acquired IndefinitelivedIntangibleAssetsAcquired	576500000
	us-gaap	Indefinite Lived Intangible Assets Period Increase Decrease IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease	0
	us-gaap	Goodwill Period Increase Decrease GoodwillPeriodIncreaseDecrease	0
CY2022Q2	us-gaap	Goodwill Goodwill	82300000

Files In Submission

Name	View Source	Status
0001070081-22-000031-index-headers.html	Edgar Link	pending
0001070081-22-000031-index.html	Edgar Link	pending
0001070081-22-000031.txt	Edgar Link	pending
0001070081-22-000031-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R68.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
tmb-20220630.xsd	Edgar Link	pending
tmb-20220630x10q.htm	Edgar Link	pending
tmb-20220630x10q_htm.xml	Edgar Link	completed
tmb-20220630xex10d1.htm	Edgar Link	pending
tmb-20220630xex10d2.htm	Edgar Link	pending
tmb-20220630xex10d2001.jpg	Edgar Link	pending
tmb-20220630xex31d1.htm	Edgar Link	pending
tmb-20220630xex31d2.htm	Edgar Link	pending
tmb-20220630xex32d1.htm	Edgar Link	pending
tmb-20220630xex32d2.htm	Edgar Link	pending
tmb-20220630_cal.xml	Edgar Link	unprocessable
tmb-20220630_def.xml	Edgar Link	unprocessable
tmb-20220630_lab.xml	Edgar Link	unprocessable
tmb-20220630_pre.xml	Edgar Link	unprocessable

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$PTCT
PTC Therapeutics Inc Stock $ptct

2022 Q3 Form 10-Q Financial Statement

#000107008122000031 Filed on August 04, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PTCT PTC Therapeutics Inc Stock $ptct

2022 Q3 Form 10-Q Financial Statement

#000107008122000031 Filed on August 04, 2022

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PTCT
PTC Therapeutics Inc Stock $ptct