Senior Analyst Dr. Jason Kantor of Credit Suisse Group says PTC Therapeutics, Inc. (PTCT) is one of his top biotech picks, as it has significant amount of clinical and regulatory news in 2015 that could drive outperformance.
“PTC, specifically, has as their primary focus rare genetic diseases. Their lead drug, Ataluren, is for Duchenne’s muscular dystrophy. It’s an oral drug, and it’s the first drug of its kind. It’s been conditionally approved in Europe — in fact they are launching it there as we speak — which is a major de-risking event for the company,” Kantor said.
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Kantor says PTC is in Phase III for the same indication in the U.S., and he expects that trial to be completed in the fourth quarter of 2015. Ataluren is also in Phase III for other genetic diseases, Kantor adds.
“Ataluren, in addition to being useful in muscular dystrophy, is also in a Phase III trial for cystic fibrosis, which represents another very large unmet need in the area of rare genetic diseases,” Kantor said. “We like PTC because it’s been substantially derisked, and there are several additional key derisking events in 2015, which we think could drive outperformance.”
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