PTC Therapeutics, Inc. (NASDAQ:PTCT) [Trend Analysis] retains strong position in active trade, as shares scoring -39.94% to $7.97 in a active trade session, while looking at the shares volume, about 12.01 Million shares have changed hands in this session. PTC Therapeutics Inc. (PTCT) stated that its appeal of a Food and Drug Administration’s decision about its Duchenne muscular dystrophy drug had been denied. The firm was appealing the regulator’s “refuse to file letter,” which the FDA issues with applications it deems clearly inadequate or having “omissions of clearly necessary information,” such as in cases requiring more data or analysis.
PTC Therapeutics stated it plans to continue its appeal with the FDA and stated it expects “multiple cycles of appeals” may be necessary.
As part of the FDA’s review, the firm stated an advisory committee meeting allowing patient advocacy is necessary. Translarna, which is intended for the treatment of DMD caused by a nonsense genetic mutation, should “be provided the same prospects for full review” as “other recent applicants” for DMD treatments, the firm stated. The firm has institutional ownership of 88.20%, while insider ownership included 0.40%. PTCT attains analyst recommendation of 2.90 with week’s performance of -41.35%. Investors looking additional ahead will note that the Price to next year’s EPS is 26.30%.
Nektar Therapeutics (NASDAQ:NKTR) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -1.38% to 15.67 with about 784953 shares have changed hands in this session. Nektar Therapeutics (NKTR) revealed that it has commenced an underwritten public offering of $175 million of shares of its ordinary stock. In connection with this offering, Nektar will also grant to the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of ordinary stock. J.P. Morgan is acting as the sole book-running manager in the offering.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Nektar intends to use the net proceeds from this offering for general corporate purposes comprising research and development funding and working capital. The securities described above are being provided by Nektar pursuant to an effective shelf registration statement (comprising a base prospectus) filed with the Securities and Exchange Commission (“SEC”). The stock is going forward its fifty-two week low with 56.55% and lagging behind from its 52-week high price with -21.57%.
Same, the positive performance for the quarter recorded as 4.82% and for the year was 44.03%, while the YTD performance remained at -7.00%. NKTR has Average True Range for 14 days of 0.66.