Here's Why PTC Therapeutics, Inc. Is Slipping Today

Shares of PTC Therapeutics, Inc. (NASDAQ: PTCT) have fallen 17.3% as of 11:53 a.m. EDT on Tuesday. Recently released briefing documents left investors even less hopeful an upcoming independent advisory panel meeting will vote in favor of approving Translarna for the treatment of Duchenne muscular dystrophy (DMD), a fatal genetic condition with a dearth of treatment options.

A major catalyst for PTC Therapeutics is just around the corner. On Thursday, Sept. 28, an independent panel of physicians will advise the Food and Drug Administration in regard to the company's new drug application for Translarna. The controversial drug has failed to reach primary efficacy endpoints, and the briefing documents panel members will receive pulled no punches regarding the lack of positive data that led the FDA to refuse to file the application last year.

Image source: Getty Images.

Source: Fool.com