- Earlier today, the FDA requested additional data to allow a 12-week portion of the Phase 2 PIVOT-HD study evaluating PTC Therapeutics Inc’s (NASDAQ:PTCT) PTC518 for Huntington’s disease.
- The additional requirement comes for the trial in the U.S.
- Cantor Fitzgerald reiterates its Overweight rating and price target of $69.
- After speaking with management, Cantor believes that the stock reaction was likely knee-jerk, and the company highlighted that the situation was not a clinical hold.
- PTCT was also confident around potential timelines, guiding for 12-week data in 1H of 2023.
- The analyst still sees potential value-creating catalysts in the near term and believes that PTCT has a mix of commercial- and clinical-stage opportunities.
- “We believe multiple clinical opportunities could be future revenue drivers for PTCT. Additionally, management has guided multiple data readouts, including Phase 3 data for PTC923 in phenylketonuria by YE22, which we view as a key investor focus,” the analyst added in the note.
- Price Action: PTCT shares are down 8.68% at $44.55 on the last check Wednesday.
Goldman Sachs Expands Visual Structuring Capabilities Into Equities, Crypto And Precious Metals
Today, Goldman Sachs announced the expansion of Visual StructuringTM into equities, crypto and precious metals, as well as the launch of web and Android versions in addition to the original iOS mobile application for FX launched in September 2022.
