PTC Therapeutics CRL ‘expected,’ focus moves to Sephience, says RBC Capital

PTC Therapeutics (PTCT) on Tuesday announced that they received a complete response letter for vatiquinone in Friedreich’s ataxia, with the FDA stating that substantial evidence of efficacy was not demonstrated and that an additional adequate and well-controlled study would be needed, RBC Capital tells investors in a research note. The firm believes this was generally expected and already baked into the stock, and thinks the focus will hone in on the Sephience launch. RBC Capital, which has an Outperform rating and $63 price target on the stock, would buy shares.