PTC Therapeutics Authorizes $500 Million Share Repurchase Program
PTC Therapeutics (PTCT) has announced that its board of directors has authorized a new share repurchase program. The company intends to buy back up to $500 million of its outstanding common stock, depending on prevailing market conditions. The announcement follows recent financial results where the company reported Q3 revenue of $358 million, exceeding analyst expectations by approximately $53 million. However, the company also reported a GAAP EPS miss of $0.76 per share. Looking ahead, PTC Therapeutics projects 2026 product revenue between $960 million and $990 million as its Sephience product expands.
Tickers: $PTCT
Topics: earnings report EPS miss revenue beat share repurchase program
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