THE LAWSUIT: A class action securities lawsuit was filed against PTC Therapeutics, Inc. (PTCT) that seeks to recover losses of PTC shareholders who were adversely affected by alleged securities fraud between January 25, 2019 and January 25, 2024
CASE DETAILS: On September 15, 2023, PTC announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a negative opinion of its drug Translarna, for the treatment of nonsense mutation Duchenne muscular dystrophy. The CHMP concluded that Translarna’s benefit-risk balance was negative and denied conversion of the conditional marketing authorization to full marketing authorization, in addition to the renewal of the existing conditional authorization. Analysts noted that they were surprised by the CHMP’s decision to deny renewal of Translarna’s marketing authorizations.
Following this news, PTC’s stock price fell by $11.13 per share, or approximately 30% to close at $26.26 per share.
WHAT’S NEXT? If you suffered a loss in PTC stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/ptc-therapeutics-inc-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
