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Fly News Breaks for October 16, 2015
PTCT
Oct 16, 2015 | 08:06 EDT
After PTC Therapeutics announced the results for a Phase 3 trial of its Translarna in nmDMD, Oppenheimer notes that the drug failed to yield statistically significant results in the overall population. However, the firm points out that the drug did generate statistically significant results in a pre-specified pooled data population which has been approved by the FDA. The firm thinks the results will enable the drug to stay on the market in the EU and be approved in the U.S. It recommends buying the stock, especially on any weakness, and keeps a $155 price target and Outperform rating on the shares.
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