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PTC Therapeutics, Inc. (PTCT) announced Thursday an agreement with Royalty Pharma plc. (RPRX) to monetize up to $1.5 billion of the Evrysdi royalty stream. Under the deal, PTC will get $1 billion in upfront cash for approximately 67 percent of outstanding royalties, with option for additional $500 million. ....
Royalty monetization is a financing tactic that is becoming increasingly popular during challenging times, and PTC Therapeutics Inc. is the latest firm to leverage a marketed drug to pay off debt and fuel its development pipeline. The South Plainfield, N.J.-based company agreed to sell up to $1.5 billion of its Evrysdi (risdiplam) royalty stream to Royalty Pharma plc, of New York. Evrysdi is a survival motor neuron 2 RNA splicing modifier approved by the U.S. FDA in 2020 to treat spinal muscular atrophy. ....
The European Commission approved Roche's (RHHBY) Evrysdi or risdiplam for babies under two months old with spinal muscular atrophy, the company said in a statement. ....
Data from pivotal SUNFISH study showed increases in motor function observed during the first year were maintained through the fourth year, while the overall rate of adverse events continued to decrease ....