UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 28, 2025
PTC THERAPEUTICS, INC.
(Exact Name of Company as Specified in Charter)
| Delaware | 001-35969 | 04-3416587 | ||
| (State or Other Jurisdiction | (Commission | (IRS Employer | ||
| of Incorporation) | File Number) | Identification No.) |
| 500 Warren Corporate Center Drive | |||
| Warren, NJ | 07059 | ||
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (908) 222-7000
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock, $0.001 par value per share | PTCT | Nasdaq Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01. Regulation FD Disclosure.
On March 28, 2025, PTC Therapeutics, Inc. issued a press release announcing that the European Commission has decided to adopt the negative opinion issued by the Committee for Medicinal Products for Human Use (the “CHMP”) of the European Medicines Agency for the renewal of the conditional marketing authorization for TranslarnaTM (ataluren). The press release is furnished as Exhibit 99.1 to this Report. The European Commission’s Implementing Decision is furnished as Exhibit 99.2 to this Report.
The information in this Report (including Item 7.01 and Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. All website addresses given in this Report or incorporated herein by reference are for information only and are not intended to be an active link or to incorporate any website information into this Report.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated March 28, 2025 issued by PTC Therapeutics, Inc. | |
| 99.2 | European Commission Implementing Decision of March 28, 2025 | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| PTC Therapeutics, Inc. | ||
| Date: March 28, 2025 | By: | /s/ Pierre Gravier |
| Name: | Pierre Gravier | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
PTC Therapeutics Provides Regulatory Update on Translarna™ (ataluren) in Europe
WARREN, N.J., Mar. 28, 2025 - PTC Therapeutics, Inc. (NASDAQ: PTCT) announced today that the European Commission (EC) has adopted the opinion of the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) to not renew the authorization of Translarna™ (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy. While this action effectively removes the drug’s conditional marketing authorization in the European Economic Area, the EC indicated that individual countries within the European Union can leverage Articles 117(3) and 5(1) of the EU Directive 2001/83 to allow continued use of Translarna.
“We are of course disappointed that after this prolonged period of review the European Commission has decided to adopt the CHMP negative opinion on Translarna,” said Matthew B. Klein, M.D., Chief Executive Officer, PTC Therapeutics. “The EC’s indication that European Union member states have a mechanism to maintain treatment speaks to the safety, benefit and lack of alternative therapies for boys and young men with nonsense mutation Duchenne muscular dystrophy. We look forward to working on a country-by-country basis to provide commercial drug where possible.”
About Translarna™ (ataluren)
Translarna (ataluren), discovered and developed by PTC Therapeutics, is a protein restoration therapy designed to enable the
formation of a functioning protein in patients with genetic disorders caused by a nonsense mutation. A nonsense mutation is an alteration
in the genetic code that prematurely halts the synthesis of an essential protein. The resulting disorder is determined by which protein
cannot be expressed in its entirety and is no longer functional, such as dystrophin in Duchenne. Translarna, the tradename of ataluren,
is licensed in multiple countries for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients aged
2 years and older. Ataluren is an investigational new drug in the United States.
About Duchenne Muscular Dystrophy (Duchenne)
Primarily affecting males, Duchenne is a rare and fatal genetic disorder that results in progressive muscle weakness from early childhood
and leads to premature death in the mid-20's due to heart and respiratory failure. It is a progressive muscle disorder caused by the lack
of functional dystrophin protein. Dystrophin is critical to the structural stability of all muscles, including skeletal, diaphragm, and
heart muscles. Patients with Duchenne can lose the ability to walk (loss of ambulation) as early as 10 years old, followed by loss of
the use of their arms. Duchenne patients subsequently experience life-threatening lung complications, requiring the need for ventilation
support, and heart complications in their late teens and 20s.
About PTC Therapeutics, Inc.
PTC is a global biopharmaceutical company focused on the discovery, development and commercialization of clinically differentiated
medicines that provide benefits to children and adults living with rare disorders. PTC's ability to globally commercialize products is
the foundation that drives investment in a robust and diversified pipeline of transformative medicines and our mission to provide access
to best-in-class treatments for patients who have an unmet medical need. The company's strategy is to leverage its strong scientific expertise
and global commercial infrastructure to maximize value for its patients and other stakeholders. To learn more about PTC, please visit
us at www.ptcbio.com and follow us on Facebook, X, and LinkedIn.
For More Information:
Investors:
Ellen Cavaleri
+1 (615) 618-6228
ecavaleri@ptcbio.com
Media:
Jeanine Clemente
+1 (908) 912-9406
jclemente@ptcbio.com
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. All statements contained in this release, other than statements of historic fact, are forward-looking statements, including statements regarding: the future expectations, plans and prospects for PTC, including with respect to the expected timing of clinical trials and studies, availability of data, regulatory submissions and responses, commercialization and other matters with respect to its products and product candidates; the clinical utility and potential advantages of Translarna (ataluren); PTC's strategy, future operations, future financial position, future revenues, projected costs; the extent, timing and financial aspects of our strategic pipeline prioritization and reductions in workforce; and the objectives of management. Other forward-looking statements may be identified by the words, "guidance", "plan," "anticipate," "believe," "estimate," "expect," "intend," "may," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions.
PTC's actual results, performance or achievements could differ materially from those expressed or implied by forward-looking statements it makes as a result of a variety of risks and uncertainties, including those related to: the outcome of pricing, coverage and reimbursement negotiations with third party payors for PTC's products or product candidates that PTC commercializes or may commercialize in the future; PTC's ability to maintain its marketing authorization of Translarna for the treatment of nmDMD in Brazil, Russia and other regions; PTC's ability to identify other potential mechanisms by which it may provide Translarna to nmDMD patients in the EEA; whether healthcare professionals agree with PTC's interpretation of the results of clinical trials and the totality of clinical data from PTC's trials in Translarna; significant business effects, including the effects of industry, market, economic, political or regulatory conditions; changes in tax and other laws, regulations, rates and policies; the eligible patient base and commercial potential of PTC's products and product candidates; PTC's scientific approach and general development progress; and the factors discussed in the "Risk Factors" section of PTC's most recent Annual Report on Form 10-K, as well as any updates to these risk factors filed from time to time in PTC's other filings with the SEC. You are urged to carefully consider all such factors.
As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. There are no guarantees that any product will receive or maintain regulatory approval in any territory, or prove to be commercially successful, including Translarna.
The forward-looking statements contained herein represent PTC's views only as of the date of this press release and PTC does not undertake or plan to update or revise any such forward-looking statements to reflect actual results or changes in plans, prospects, assumptions, estimates or projections, or other circumstances occurring after the date of this press release except as required by law.
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EN EN EUROPEAN COMMISSION Brussels, 28.3.2025 C(2025) 2025 final COMMISSION IMPLEMENTING DECISION of 28.3.2025 refusing the renewal of the conditional marketing authorisation for the medicinal product for human use "Translarna - ataluren", granted by Decision C(2014)5619 final (Text with EEA relevance) (ONLY THE ENGLISH TEXT IS AUTHENTIC) |
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EN 1 EN COMMISSION IMPLEMENTING DECISION of 28.3.2025 refusing the renewal of the conditional marketing authorisation for the medicinal product for human use "Translarna - ataluren", granted by Decision C(2014)5619 final (Text with EEA relevance) (ONLY THE ENGLISH TEXT IS AUTHENTIC) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, Having regard to Regulation (EC) No 726/2004 of the European Parliament and of the Council of 31 March 2004 laying down Union procedures for the authorisation and supervision of medicinal products for human use and establishing a European Medicines Agency1 , and in particular Article 10(2) and 14-a thereof, Having regard to Commission Regulation (EC) No 507/2006 on the conditional marketing authorisation for medicinal products for human use falling within the scope of Regulation (EC) No 726/2004 of the European Parliament and of the Council2 , Having regard to the application submitted by PTC Therapeutics International Limited, on 3 February 2023, under Article 6(2) of Regulation (EC) No 507/2006, with a view to the annual renewal of the conditional marketing authorisation for the medicinal product "Translarna - ataluren", Having regard to the opinions of the European Medicines Agency, formulated on 27 June 2024 and on 17 October 2024 by the Committee for Medicinal Products for Human Use (CHMP), Whereas: (1) The medicinal product "Translarna - ataluren", entered in the Union Register of Medicinal Products under the number EU/1/13/902 and authorised by Commission Decision C(2014)5619 final of 31 July 2014, does not comply with the requirements of Article 14-a of Regulation (EC) No 726/2004 of the European Parliament and of the Council, and Regulation (EC) No 507/2006, for the reasons set out in the Annex to this Decision. (2) In particular, the CHMP assessed the benefit-risk of Translarna, taking into account the totality of available data, and concluded that the efficacy was not established in the authorised indication or in any subpopulation of this indication. Given that a favourable benefit-risk balance was not confirmed, the CHMP did not recommend the renewal of the Conditional Marketing Authorisation. 1 OJ L 136, 30.4.2004, p. 1. 2 OJ L 92, 30.3.2006, p. 6. |
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EN 2 EN (3) The conditional marketing authorisation should therefore not be renewed. (4) The Union Register of Medicinal Products should be updated. (5) During the Standing Committee meeting held on 12 December 2024, several Member States, while agreeing with the negative opinion from the CHMP, expressed concerns about the high unmet medical need of patients suffering from the life-threatening and debilitating Duchenne muscular dystrophy disease and the unique circumstances for those patients being treated with Translarna already for some time, particularly in view of the current absence of alternative therapeutic options. (6) The European Commission took note that those Member States acknowledged that, independently from the present Decision not to renew the authorisation for Translarna at EU level, it would be possible for Member States at national level to adopt exceptional measures under Articles 117(3) or Article 5(1) of Directive 2001/83/EC during a transitional period, as it is recognised that some patients have been receiving treatment with Translarna for some time and that a close collaboration between those patients, their caregivers and healthcare professionals is essential, in order to discuss the possible treatment options. (7) The measures provided for in this Decision are in accordance with the opinion of the Standing Committee on Medicinal Products for Human Use, HAS ADOPTED THIS DECISION: Article 1 The renewal of the conditional marketing authorisation for the medicinal product "Translarna - ataluren" is refused on the basis of the scientific conclusions set out in the Annex to this Decision. Article 2 This Decision is addressed to PTC Therapeutics International Limited, Unit 1, 52-55 Sir John Rogerson's Quay, Dublin 2, D02 NA07, Ireland. Done at Brussels, 28.3.2025 For the Commission Sandra GALLINA Director-General |