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Shareholder Class Action Filed Against PTC Therapeutics, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares acquired PTC Therapeutics, Inc. (NASDAQ: PTCT) (“PTCT” or the “Company”) between May 6, 2014 and February 29, 2016, inclusive (the “Class Period”).

PTCT investors may receive additional information about the case by clicking the link "Join this Class Action" above.        

        

According to the complaint, PTCT is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics targeting an area of ribonucleic acid (“RNA”) biology, known as post-transcriptional control.

The Complaint charges that during the Class Period, defendants issued a series of false and  misleading statements  that misrepresented that  PTC’s new  drug application (“NDA”), for its lead  product candidate Translarna, was on  track for review by the U.S.  Food and Drug Administration.  Defendants  represented that Translarna “was efficacious” and that the “totality of the clinical  data from two large,  placebo-controlled clinical trials  across over 400  patients demonstrate Translarna’s ability to slow disease progression.”

Defendants failed to disclose, among other  things, that the: (i) NDA was  not sufficiently complete to permit a substantive review by the FDA as PTC  failed to provide substantial scientific evidence of Translarna’s effectiveness; (ii) retrospective subgroup analysis in  the Phase 2b  trial failed to  demonstrate efficacy; and (iii) Company made a post hoc adjustment in its Phase 3 trial by eliminating data from a majority of enrolled patients.

On February 23, 2016,  PTC disclosed that  it had received  a Refusal to  File letter, which stated that  the “application was  not sufficiently complete  to permit a substantive review.”  On this disclosure, PTCT shares declined $17.42 per share or 62%.

On February 29, 2016, PTC’s CEO  further revealed that, according to the  FDA, the Company did not provide  substantial scientific evidence of  effectiveness as it eliminated “data  from a majority of  enrolled patients.”  As a  result, PTCT shares declined an additional $2.43 per share or 30% on March 1, 2016..

If you are a member of the class described above, you may no later than May 2, 2016   move the Court to serve as lead plaintiff of the class, if you so choose. 

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please list your purchase and sale transaction(s) for PTC Therapeutics, Inc. (NASDAQ: PTCT)  between May 6, 2014 and February 29, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of PTC Therapeutics, Inc. prior to the class period?
Are you a current or former employee of PTC Therapeutics, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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