PTC Therapeutics announced its third quarter 2024 financial results on November 7, 2024, reporting total revenues of $196.8 million, which remained flat compared to the third quarter of 2023. Net product revenue for the quarter was $135.4 million, a decrease from $144.0 million in Q3 2023, while royalty revenue increased to $61.4 million from $50.2 million.
The company reported a net loss attributable to common stockholders of $106.7 million, or $1.39 per share, for the third quarter. Non-GAAP research and development expenses were $152.0 million, and non-GAAP selling, general, and administrative expenses were $63.1 million.
Despite the net loss, PTC Therapeutics updated its full-year 2024 total revenue guidance, raising it to a range of $750 million to $800 million. This revised guidance reflects the company's confidence in its commercial execution and strategic plans for the remainder of the year.
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