PTC Therapeutics Moves On Old Report

PTC Therapeutics, Inc. PTCT plunged as low as 4 percent off Thursday’s highs as traders circulated a report citing termination of the firm’s 2A ataluren study for Duchenne and Becker muscular dystrophies. However, a company spokesperson clarified that this was “very old news.”

“The Phase 3 was completed almost two years ago,” the representative told Benzinga. PTC recently filed a New Drug Application with the Food and Drug Administration for ataluren for the treatment of Duchenne Muscular Dystrophy and has an expected Prescription Drug User Fee Act date of Oct. 24.

The government record that seemingly concerned traders was last updated Tuesday for unknown reasons, and the edit alert may have triggered alarm.

PTC shares recovered and were trading above opening rates at the time of publication.

PTC Therpapeutics Spokesperson Tells Benzinga 'This is Very Old News...Phase 3 was Completed Almost Two Years Ago'

PTC Study Of Ataluren Has Been Terminated