– Continued strong revenue performance – – NDAs for sepiapterin and Translarna™ submitted to FDA – – Positive interim data readout from PTC518 PIVOT-HD study – – On track to achieve remaining 2024 clinical and regulatory milestones – WARREN, N.J., Aug. 8, 2024 /PRNewswire/ -- PTC Therapeutics, Inc., (NASDAQ: PTCT) today announced a corporate update and financial results for the second quarter ending June 30, 2024. "I am proud of our team's continued outstanding execution as we have accomplished all our obje ...

Q3'24 FINANCIAL RESULTS Neil Barua CEO Kristian Talvitie CFO July 31, 2024 FORWARD LOOKING STATEMENTS 2 This presentation includes forward looking statements regarding PTC's future financial performance, strategic outlook and expectations, anticipated future operations, and expected effects of strategic investments and initiatives. Because such statements deal with future events, actual results may differ materially from those projected in the forwardlooking statements. Information about factors that could ...

Financial Data and Key Metrics Changes - In Q3, the company reported a constant currency ARR growth of 12% year-over-year, reaching $2.125 billion, and free cash flow increased by 29% year-over-year [5][24]. - The free cash flow guidance for fiscal 2024 remains at approximately $725 million, despite a slight miss in Q3 due to timing issues [24][28]. Business Line Data and Key Metrics Changes - The company achieved 10% constant currency ARR growth in CAD and 13% growth in PLM during Q3 [25]. - The demand for core offerings remains strong, with a focus on digital thread initiatives driving customer engagement [10][19]. Market Data and Key Metrics Changes - Constant currency organic ARR growth was solid across the Americas, Europe, and APAC, with growth rates in the low to mid-double-digits [26]. - The company noted that the demand environment remained consistent across all geographic regions and verticals, with no discernible changes in trends [33][36]. Company Strategy and Development Direction - The company is focusing on five key areas: PLM (Windchill), ALM (Codebeamer), SLM (ServiceMax), CAD (Creo), and SaaS, to create customer value and drive growth [8][12]. - A strategic shift is underway to optimize go-to-market and G&A activities, with a leaner management structure to enhance customer engagement [10][11]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the demand environment, noting a strong pipeline going into Q4 despite ongoing challenges in close rates [34][36]. - The company anticipates low double-digit ARR growth for fiscal 2025, reflecting a cautious but optimistic outlook based on current market conditions [31][32]. Other Important Information - The company is transitioning its leadership structure, eliminating the COO position to streamline operations and enhance focus on key priorities [6][11]. - There is an ongoing emphasis on aligning resources across operational functions to support the five focus areas and improve execution consistency [23][12]. Q&A Session Summary Question: Demand environment changes - Management noted that the demand environment in Q3 was consistent with previous quarters, with a strong pipeline for Q4 [33][34]. Question: Trends throughout the quarter - Management reported small changes in trends across geographies and verticals, maintaining a focus on execution in a challenging environment [36][37]. Question: Organizational structure and responsibilities - The company is focusing on aligning resources effectively to drive customer value and prioritize key areas for growth [39][41]. Question: Competitive landscape and geopolitical issues - Management indicated no discernible changes in trends compared to competitors, emphasizing a disciplined approach to navigating the current environment [44][46]. Question: Guidance for next year - The company is still in the planning process for fiscal 2025, with expectations for low double-digit ARR growth and a focus on managing expenses [31][47]. Question: R&D changes and product development - The company is prioritizing R&D efforts to enhance product offerings and align with customer needs, including advancements in the Atlas platform [68][69].

PTC Inc. (PTC) came out with quarterly earnings of $0.98 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.99 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this product development software maker would post earnings of $1.23 per share when it actually produced earnings of $1.46, delivering a surprise of 18.70%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. PTC Inc ...

In its upcoming report, PTC Inc. (PTC) is predicted by Wall Street analysts to post quarterly earnings of $0.98 per share, reflecting a decline of 1% compared to the same period last year. Revenues are forecasted to be $533.04 million, representing a year-over-year decrease of 1.7%. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. ...

Core Insights - PTC Therapeutics has submitted a New Drug Application (NDA) for sepiapterin to the U.S. FDA, aimed at treating both pediatric and adult patients with phenylketonuria (PKU) [10] - The NDA is supported by significant clinical trial data, showing a mean reduction in phenylalanine (Phe) levels of 63% in the overall treated population and 69% in classical PKU patients [11] - The company is also pursuing marketing authorization in Europe, Japan, and Brazil, with applications expected later in 2024 [1][10] Company Overview - PTC Therapeutics is a global biopharmaceutical company focused on developing and commercializing medicines for rare disorders, leveraging scientific expertise and a robust pipeline [4] - The company's mission is to provide access to innovative treatments for patients with limited options, aiming to maximize value for stakeholders [4] Product Details - Sepiapterin is an oral formulation that serves as a precursor to tetrahydrobiopterin, crucial for metabolic processes, and is more bioavailable than synthetic BH4 [2] - The clinical trial data indicates that 84% of subjects achieved Phe control below 360 µmol/L, and 22% normalized their Phe levels, suggesting potential for diet liberalization [11]

Core Business Performance - PTC's core business segments, CAD and PLM solutions, are major revenue drivers and are expected to cushion performance in the upcoming quarter [1] - The company projects revenues between $525 million and $540 million for the quarter, with a consensus estimate for revenues at $533 million, indicating a decline of 1.7% year-over-year [2][3] Earnings Expectations - The consensus estimate for earnings is pegged at 98 cents per share, down 1% from the prior year, while non-GAAP EPS is expected to be between 90 cents and $1 [2][3] Product Adoption and Innovations - Healthy adoption of the premium PLM product, Windchill software, is expected to drive top-line performance, alongside product updates and innovations in CAD tools like Creo [4] Strategic Partnerships - PTC's partnership with Trax aims to integrate platforms to improve efficiency and modernize service supply-chain optimization in airline and MRO maintenance activities [5] Market Challenges - Adverse foreign currency movements and global macroeconomic weakness are likely to act as headwinds, along with increasing R&D costs to remain competitive in the PLM and CAD space [6] Earnings Prediction Model - The company's earnings model predicts a potential earnings beat, supported by a positive Earnings ESP and a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [7] Recurring Revenue Growth - Growth in recurring revenue is promising, with PTC's investments in emerging technologies like IoT, AR, and AI aligning with industry trends [14] - For the fiscal third quarter, PTC expects ARR to be between $2.115 billion and $2.130 billion, with cash from operations projected at $225 million and free cash flow at $220 million [15]

Core Viewpoint - PTC Therapeutics, Inc. will host a webcast conference call on August 8, 2024, to report its second quarter financial results and provide a business update [1]. Company Overview - PTC Therapeutics is a global biopharmaceutical company focused on discovering, developing, and commercializing clinically differentiated medicines for patients with rare disorders [3]. - The company aims to innovate and identify new therapies while leveraging its scientific and clinical expertise to maximize value for stakeholders [3]. - PTC's mission is to provide access to best-in-class treatments for patients with limited or no treatment options [3].

Core Viewpoint - PTC Inc. is highlighted as a strong candidate for investors due to its consistent performance in beating earnings estimates and its positive outlook for future earnings reports [1]. Earnings Performance - In the last reported quarter, PTC Inc. achieved earnings of $1.46 per share, exceeding the Zacks Consensus Estimate of $1.23 per share, resulting in a surprise of 18.70% [2]. - For the previous quarter, the company was expected to post earnings of $0.98 per share but delivered $1.11 per share, yielding a surprise of 13.27% [2]. - On average, PTC Inc. has surpassed earnings estimates by 15.98% over the last two quarters [7]. Earnings Estimates and Predictions - Recent estimates for PTC Inc. have been trending upward, with a positive Zacks Earnings ESP (Expected Surprise Prediction) indicating a strong likelihood of an earnings beat [3]. - The current Earnings ESP for PTC Inc. stands at +1.47%, suggesting increased analyst optimism regarding its near-term earnings potential [9]. Zacks Rank and Success Rate - PTC Inc. holds a Zacks Rank of 3 (Hold), which, when combined with a positive Earnings ESP, suggests a high probability of beating consensus estimates, with a success rate of nearly 70% for stocks with this combination [8][9]. Upcoming Earnings Report - The next earnings report for PTC Inc. is anticipated to be released on July 31, 2024 [9].

Group 1 - Pomerantz LLP is investigating claims on behalf of investors of PTC Therapeutics, Inc. regarding potential securities fraud or unlawful business practices by the company and its officers [3][5]. - On June 28, 2024, PTC's stock price dropped by $4.08 per share, representing an 11.77% decline, closing at $30.58 per share [4]. - The decline in stock price followed PTC's announcement that the European Medicines Agency's Committee for Medicinal Products for Human Use issued a negative opinion on the renewal of the conditional marketing authorization of Translarna™ (ataluren) for treating nmDMD [6]. Group 2 - Pomerantz LLP has a long history of fighting for the rights of victims of securities fraud and has recovered billions of dollars in damages on behalf of class members [2].