PTC Therapeutics (PTCT) has provided an announcement.
PTC Therapeutics, Inc. has amended its agreement with Royalty Pharma, adjusting the put option structure for selling royalties of the drug Evrysdi®, while removing RPI’s call options. The amended terms allow for up to $500 million in cash considerations across four tranches without altering the total Royalty amount sold. Additionally, the company has downsized its lease obligations following asset disposition and announced election results for its directors and approval of executive officer compensation in its Annual Meeting. Looking ahead, PTC Therapeutics will host a conference call to discuss interim data from a Phase 2 study on Huntington’s disease treatment.
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