PTC Therapeutics Strikes Asset Purchase Deal With Sangamo
PTCT sits 43% above its 52-week low of $48.955.
Summary
PTC Therapeutics has entered into an asset purchase agreement with Sangamo Therapeutics. The deal involves an upfront payment of $111 million, plus up to an additional $100 million in contingent milestone payments, for a total potential value of up to $211 million. The specific assets are not disclosed in the headline, but the transaction follows PTC's recent acquisition of ST-920 for up to $211 million, signaling continued expansion of its gene therapy pipeline. Investors will look for the 8-K filing to assess the strategic value and cost.
At the time of this announcement, PTCT was trading at $70.09 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.8B. The 52-week trading range was $48.96 to $90.87. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.