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PTC issued a press release on May 5, 2025, “announc[ing] results from the Phase 2 PIVOT-HD study of PTC518 (votoplam) in Stage 2 and Stage 3 Huntington’s disease (HD) patients.” Although “[t]he study met its primary endpoint of reduction in blood Huntingtin (HTT) protein levels (p<0.0001) at Week 12 and favorable safety and tolerability", analysts who reviewed the data anticipated that the Company would likely need to conduct a Phase 3 study to better establish whether the treatment is actually slowing HD. Following this news, PTC's stock price fell over 18% on the same day.