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Fly News Breaks for October 16, 2015
PTCT
Oct 16, 2015 | 07:28 EDT
After PTC's confirmatory Phase III trial in DMD failed to meet its primary or secondary endpoints, RBC Capital notes that the company identified one subgroup in which the primary endpoint was met. The firm thinks the drug could be approved due to the "dire need" for a DMD treatment. It believes the drug has "a decent chance" of getting approved. RBC cut its price target on the stock to $56 from $85 but keeps an Outperform rating on the shares.
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