Ptc therapeutics' EVP sells $90,036 in stock

Golden Lee Scott, Executive Vice President and Chief Medical (TASE:PMCN) Officer at PTC Therapeutics, Inc. (NASDAQ:PTCT), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transaction comes as the company, currently valued at $3.39 billion, has shown strong momentum with a 41.77% price return over the past six months. The transactions, which took place on January 7 and January 8, involved the sale of a total of 2,008 shares.

On January 7, Scott sold 810 shares at a price of $45.34 each, while on January 8, an additional 1,198 shares were sold at $44.50 per share. The total value of these transactions amounted to $90,036. Following these sales, Scott holds 78,651 shares of PTC (NASDAQ:PTC) Therapeutics.

The sales were made pursuant to irrevocable sell-to-cover elections to satisfy tax withholding obligations related to the vesting of restricted stock units (RSUs). For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering over 1,400 US stocks, including PTC Therapeutics.

In other recent news, TD Cowen, through its analyst Joseph Thome, outlined ten anticipated catalysts for the year 2025 in the biotech sector. ANAB is expected to release Phase II rheumatoid arthritis data for Rosnilimab, while UTHR is extending its Tyvaso treatment to a Phase III idiopathic pulmonary fibrosis program. ALKS is preparing to release Phase II datasets for its orexin candidate '2680, and JAZZ is concurrently anticipating Phase III gastric-esophageal junction adenocarcinoma readouts for Zanidatamab. PRME is set to announce initial prime editing clinical data this year with PM359 in chronic granulomatous disease. XENE plans to publish Phase III functional outcome score data for Azetukalner, and PTCT is gearing up for several regulatory catalysts involving Vatiquinone, Sepiapterin, and Translarna.

In addition, PTC Therapeutics has amended its lease agreement with Warren CC Acquisitions, LLC, reducing its rented space and adjusting financial terms. The company has also submitted an FDA application for a Friedreich ataxia (FA) treatment, vatiquinone, marking a significant development. The application is supported by data from a placebo-controlled study named MOVE-FA, alongside results from two long-term studies that included both pediatric and adult FA patients.

Furthermore, PTC Therapeutics has received an upgrade from Morgan Stanley (NYSE:MS), moving from Equalweight to Overweight, with a new price target of $67.00. This upgrade follows a series of positive events, including the approval of its drug Kebilidi, the successful sale of a priority review voucher for $150 million, and a lucrative global license and collaboration agreement with Novartis (SIX:NOVN). The deal with Novartis for the Huntington's disease treatment PTC518 includes a substantial $1 billion cash payment upfront.

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