PTC Therapeutics, Inc. (NASDAQ:PTCT) has announced financial results for the year 2015. The biggest highlight for 4Q2015 results was the Translarna net product sales of $12.7 million, up 30% from 3Q2015.
Insights of Financial Results
When it comes to yearly net product sales of Translarna, PTC reported $33.7 million as compared to previous year’s $0.7 million. There was no other product sold during the quarter, so overall revenues generated by the company in December quarter were $12.7 million, similar to what it reported in 4Q2014. In terms of yearly revenues, PTC managed to report $36.8 million as compared to $25.2 million during the same period in 2014.
The primary driving force behind this annual growth in product sales was but the expansion in Translarna’s reach during 2015. PTC shifted its focus back to promoting Translarna across all the online and offline platforms, including marketing authorization from the none other than EMA. Although the grants received by the company as part of this settlement were comparatively lower, the overall sales increased and settled the score in an efficient manner.
Non GAAP R&D expenses of PTC during the December quarter were $31.4 million as compared to $23.7 million during the same period in 2014. The GAAP R&D expenses for the quarter were $35 million as compared to $26.9 million during 4Q2014. For the year 2015, the non-GAAP R&D expenses increased to $105.7 million from last year’s $70.1 million. At the same time, GAAP R&D expenses for the year were $121.8 million against last year’s $79.8 million.
The growing uncertainty in the market affected company’s profitability as well. PTC Therapeutics, Inc. (NASDAQ:PTCT) ended 4Q2015 with a net loss of $50.9 million as compared to $27.3 million in 4Q2014. Net loss for the entire year 2015 increased to $170.4 million against $93.8 million for 2014.
Going forward, PTC would try to keep its expenses down and attain a profitable situation in 2016.