PTC Raises 2026 Revenue Outlook to $1.32 Billion as Product Revenue Grows
Key Facts
PTC Therapeutics reported results for the third quarter ended September 30 on October 29, 2026, and raised its full-year revenue outlook in the same statement. The company estimated total 2026 revenue at between $1.29 billion and $1.32 billion, while raising its product revenue outlook to $960–990 million from $850–950 million previously. The update followed total revenue of $357.807 million for the quarter, compared with $211.007 million in the same period of 2025. Product revenue was $275.9 million, compared with $131.0 million a year earlier, an increase of more than 100%. The higher outlook, alongside the reported sales growth, put product performance at the forefront of the company's quarterly results.
The company attributed the record quarter for product revenue to continued launch momentum for Sephience. Chief Executive Matthew B. Klein said, "We delivered another strong quarter of record product revenue, led by continued launch momentum for Sephience." The statement linked the strength in product revenue to the launch, without breaking out the drug's individual contribution in the figures provided. Other revenue included royalties from Evrysdi, which rose to $81.7 million from $70.8 million in the third quarter of 2025. Evrysdi royalties thus contributed to revenue growth alongside the increase in product sales.
Not all of the company's products recorded year-over-year growth in the quarter. Translarna revenue was $48.5 million, compared with $50.7 million a year earlier. Imflaza revenue also declined to $25.1 million from $35.2 million in the corresponding period of 2025. These figures show a contrast between growth in total product revenue and the performance of the two products, with revenue from each falling year over year. At the same time, overall product revenue more than doubled from its level in the third quarter of the prior year.
Cash, cash equivalents and marketable securities totaled $2,127.9 million on September 30, 2026, compared with $1,945.4 million on December 31, 2025. This compares the end of the third quarter with the end of the prior year, not with the corresponding period last year. Klein said the company was on track to achieve cash breakeven this year, alongside his remarks on the strong quarter and Sephience launch momentum. The company presented its cash balance and annual outlook as part of its corporate update and quarterly results. Its new product revenue outlook remains above the previous range announced for fiscal 2026.
In its drug development pipeline, the company said a Type C meeting with the U.S. Food and Drug Administration to discuss Phase 2 data for vatiquinone and the accelerated approval pathway was now scheduled for the first quarter of 2027. It also aims to enroll about 770 patients in the early symptomatic stage in the Phase 3 INVEST-HD trial. The regulatory meeting scheduled for the first quarter of 2027 marks the next step in discussing vatiquinone data with the U.S. agency. The INVEST-HD trial has a specific enrollment target of about 770 participants. The statement provided no later date for the trial.
The company had scheduled a call to review its results and corporate updates for October 29, 2026, at 4:30 p.m. U.S. Eastern Time. The results were announced on the same date, and the update included higher revenue guidance, product performance details and the cash balance. Ahead of the announcement, the company's shares closed at $63.02 on October 28, according to EL7 data. That figure refers to the daily closing price and does not include the session's high or low. The next announced milestones remain the vatiquinone meeting in the first quarter of 2027 and the INVEST-HD trial, which is targeting about 770 patients.