PTC Therapeutics (PTCT) Tops Q3 EPS by 12c, provides guidance

PTC Therapeutics (NASDAQ: PTCT) reported Q3 EPS of ($1.39), $0.12 better than the analyst estimate of ($1.51). Revenue for the quarter came in at $196.78 million versus the consensus estimate of $171.44 million.

GUIDANCE:

PTC Therapeutics sees FY2024 revenue of $750-800 million, versus the consensus of $734 million. PTC anticipates GAAP R&D and SG&A expenses for full year 2024 to be between $740 million and $835 million, including expected R&D expense milestone payments of up to $65 million.
PTC anticipates non-GAAP R&D and SG&A expenses for full year 2024 to be between $660 million and $755 million, including expected R&D expense milestone payments of up to $65 million and excluding estimated non-cash, stock-based compensation expense of $80 million.
PTC anticipates up to $90 million of payments for full year 2024 upon achievement of potential regulatory success-based milestones from previous acquisitions, of which up to $65 million will be recorded as R&D operating expenses. As of September 30, 2024, $85 million in milestones have been achieved, of which $65 million has been recorded as R&D operating expenses and $20 million as contingent consideration payable.

For earnings history and earnings-related data on PTC Therapeutics (PTCT) click here.

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