Levi & Korsinsky notifies investors that it has commenced an investigation into PTC Therapeutics, Inc. (NASDAQ: PTCT) concerning potential violations of the federal securities laws.
On September 15, 2023, PTC announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a negative opinion of its drug Translarna, for the treatment of nonsense mutation Duchenne muscular dystrophy. The CHMP concluded that Translarna’s benefit-risk balance was negative and denied conversion of the conditional marketing authorization to full marketing authorization, in addition to the renewal of the existing conditional authorization. Analysts noted that they were surprised by the CHMP’s decision to deny renewal of Translarna’s marketing authorizations. Following this news, PTC’s stock price fell by $11.13 per share, or approximately 30% to close at $26.26 per share.
If you suffered a loss on your PTC securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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