PTC Therapeutics Stock Soars on Novartis Licensing Agreement

Key TakeawaysShares of PTC Therapeutics soared Monday when the pharmaceutical firm announced it struck a nearly $2 billion license and collaboration deal with Novartis.The deal gives Novartis global development, manufacturing, and commercial responsibility for PTC's experimental Huntington's Disease drug.PTC will receive$1.0 billion upfront, and said it would use the money to expand its splicing platform and increase its commercial and development portfolio moves. Shares of PTC Therapeutics (PTCT) soared 1 ...