Overview

• US biopharma firm's Q1 2026 product revenue rose 47% yr/yr, driven by Sephience launch

• Company raised full-year 2026 product revenue guidance to $750-$850 mln

• PTC reported a Q1 net loss of $2.8 mln, compared to net income last year

Outlook

• PTC raises 2026 total product revenue guidance to $750 mln-$850 mln

• Company expects 2026 total revenue of $1.08 bln-$1.18 bln

• PTC maintains 2026 GAAP and non-GAAP R&D and SG&A expense guidance

Result Drivers

• SEPHIENCE LAUNCH MOMENTUM - Strong global launch of Sephience drove 36% qtr/qtr revenue growth, with expanding sales in the US and internationally

• ROYALTY REVENUE INCREASE - Higher royalties from Evrysdi contributed to revenue growth

• GENERIC EROSION - Emflaza revenue declined due to continued generic competition

Company press release: ID:nPn2DnB9Qa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Product Revenue		$225.57 mln
Q1 EPS		-$0.03
Q1 Net Income		-$2.81 mln
Q1 Basic EPS		-$0.03
Q1 Operating Expenses		$227.59 mln
Q1 Operating Income		$44.96 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for PTC Therapeutics Inc is $83.50, about 25.4% above its May 6 closing price of $66.57

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