PTC Therapeutics Inc. (NASDAQ:PTCT) on Wednesday said it is expanding its rare disease portfolio through the planned acquisition of the ST-920 Fabry disease program from Sangamo Therapeutics in a competitive bankruptcy auction.
The move comes during a mixed market session, with S&P 500 futures showing a gain of 0.5%.
• PTC Therapeutics stock is holding steady today. What’s next for PTCT stock?
PTC Therapeutics Expands Fabry Disease Pipeline With ST-920 Deal
The terms include $111 million upfront and up to $100 million in contingent milestone payments based on certain regulatory approvals.
A rolling BLA submission to the FDA for accelerated approval of ST-920 is expected to be completed in the fourth quarter of 2026.
The application is based on evidence of meaningful favorable clinical effect on renal function and a safety and tolerability profile over 52 weeks in the Phase 1/2 STAAR study.
PTC Therapeutics is set to leverage its existing regulatory and commercial infrastructure to enhance its offerings in the Fabry therapy market with the acquisition of ST-920, a one-time administered AAV gene therapy.
“This was a unique opportunity with the potential for significant return on investment without the need for any development or commercial build and without impacting our objective of reaching cash flow break-even in 2026,” said Matthew Klein, CEO of PTC Therapeutics.
PTCT Technical Analysis: Trend and Key Moving Averages
Currently, PTC Therapeutics is trading at $73.99, which places it 2.4% below its 20-day simple moving average (SMA) of $74.08.
The stock is also 6.5% below its 50-day SMA of $77.32, indicating a bearish trend in the short term.
The moving average convergence divergence (MACD) is above its signal line, suggesting that downside pressure is easing, although the overall trend remains uncertain.
How PTCT Ranks on Momentum and Value
Below is the Benzinga Edge scorecard for PTC Therapeutics, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Strong (Score: 74.08) — Stock is outperforming the broader market.
- Value: Weak (Score: 17.23) — Trading at a steep premium relative to peers.
PTCT ETF Exposure: Funds with the Biggest Positions
- Invesco S&P SmallCap Health Care ETF (NASDAQ:PSCH): 3.01% Weight
- iShares Neuroscience and Healthcare ETF (NYSE:IBRN): 4.38% Weight
PTCT Stock Price Activity: PTC Therapeutics shares were down 0.13% at $72.55 at the time of publication on Thursday, according to Benzinga Pro data.
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