India, May 5 -- Shares of PTC Therapeutics, Inc. (PTCT) tanked 22% on Monday morning. The biopharmaceutical company announced positive results from its Phase 2 PIVOT-HD study of PTC518 in patients with Huntington's disease (HD).
PTCT is currently trading at $39.04, down $10.91 or 21.84%, on the Nasdaq. The stock opened its trading at $39.44 after closing Friday at $49.95. The stock has traded between $28.72 and $58.38 in the past 52-week period.
PTC Therapeutics announced that the study met its primary endpoint of reduction in blood Huntingtin (HTT) protein levels at Week 12 and favorable safety and tolerability.
In addition, the 12-month data from the Stage 2 patients are consistent with the previously reported dose-dependent lowering o...