PTC Therapeutics (PTCT) to Cut Workforce by ~18%

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Go back to PTC Therapeutics (PTCT) to Cut Workforce by ~18%

PTC Therapeutics Announces Workforce Reduction as Part of Operating Expense Management Plan

March 23, 2016 4:03 PM EDT

SOUTH PLAINFIELD, N.J., March 23, 2016 /PRNewswire/ -- PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that the company is reducing its workforce by approximately 18%, which will primarily affect employees and contractors in the U.S.  This reduction is part of PTC's program intended to optimally manage operating expenses following its recent setback related to the Refuse to File letter received from the U.S. Food and Drug Administration (FDA) for Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD).  PTC remains focused on the global development of... More