PTC Therapeutics, Inc. is implementing a further strategic prioritization and associated workforce reduction. The portfolio prioritization continues the process initiated in May 2023 to focus resources on its differentiated, high potential R&D programs and on support of the global commercial infrastructure. The company also plans to submit the re-examination request for the CHMP opinion on Translarna.
 
The workforce reduction impacted approximately 25% of the organization, and primarily included employees working on early-stage research programs, employees at the gene therapy manufacturing facility located in Hopewell, NJ and associated SG&A functions. Implementation of these cost saving measures is expected to result in an approximate 20% reduction in annualized operating expenses compared to 2023 guidance.
 
“We remain confident that we have the data to address the concerns raised by CHMP in its negative opinion,” said Matthew B. Klein, M.D., Chief Executive Officer, PTC Therapeutics. “The totality of evidence collected in three placebo-controlled trials and in the STRIDE registry provide clear evidence of Translarna’s benefit. In addition, the patient and physician communities strongly believe in the benefits of Translarna and have shared their motivation to support the efforts to maintain authorization for the only approved Duchenne muscular dystrophy therapy in Europe.”