PTC Therapeutics Mounts Tepid Comeback

PTC Therapeutics

shares ended Thursday's session higher by $0.81 at $11.21. The issue has been attempting to stabilize after its $17 plus thrashing ($28.26 to $10.84 on Tuesday. when the FDA sent a refuse to file letter for Translama. From a technical perspective, the issue did show signs of life by distancing itself from its all time low ($10.11) and found willing buyers at Wednesday's all time low closing price of $10.51, bottoming at $10.52. Later in day, the issue spiked to $12.26, when the Street Insider reported Sanofi

may bid for rhe company. It began to retreat, but attempted to rally again when Benzinga received the standard "no comment on market rumors" by the company. With no further commentary on the possibility of a take-out, the issue surrendered $1 of those gains at the close.