PTC Therapeutics Inc. (PTCT) announced Friday morning that the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended renewing the conditional marketing authorization of Translarna. The drug is a treatment for nonsense mutation Duchenne muscular dystrophy in ambulatory patients five years and older.
PTC Therapeutics gapped open sharply higher Friday, but traded in a range throughout the session. The stock closed up by 5.30 at $11.30, with volume at a 7-month high. PTC Therapeutics jumped to a 3-week high and re-crossed its 50 and 200-day moving averages.
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