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European advisory committee backs renewal of marketing authorization for PTC's Translarna; shares up 78% premarket

Published 11/11/2016, 08:38 AM
European advisory committee backs renewal of marketing authorization for PTC's Translarna; shares up 78% premarket
PTCT
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  • PTC Therapeutics (NASDAQ:PTCT) rockets 78% premarket on robust volume in response to its announcement that the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended the annual renewal of the conditional marketing authorization for Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients at least five years old.
  • The renewal includes an obligation to conduct a new 18-month randomized, placebo-controlled study in nmDMD patients followed by an 18-month open-label extension phase where all patients will be switched to Translarna. Results should be available in early 2021.
  • Translarna is a protein restoration therapy designed to enable the formation of a functioning protein in patients with nonsense mutation-caused genetic disorders.

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