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PTC to lay off more staff following drug setback in Europe

September 29, 2023


Over the past year, PTC has replaced its CEO, fired its CFO and rolled out two restructuring plans.

The initial round of layoffs was expected to impact about 8% of its workers, and came after the study failure of an experimental drug called vatiquinone in Friedreich ataxia, an inherited disorder affecting the nerves.

PTC said at the time that it would focus on drugs that could offer a “return on investment.” But now it’s at risk of losing an approved drug.

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