other material
confidence high
sentiment positive
materiality 0.85
PTC Therapeutics monetizes Evrysdi royalties for up to $1.5B, pays off Blackstone debt
PTC THERAPEUTICS, INC.
- PTC receives $1.0B upfront for ~38% additional Evrysdi royalty; total ~81% sold to Royalty Pharma.
- PTC can sell remaining royalty for up to $500M via puts through Dec 2025; Royalty Pharma may call up to $250M.
- Proceeds to retire all Blackstone debt; Credit Agreement from Oct 2022 terminated.
- PTC retains all economics on up to $250M in commercial sales milestones for Evrysdi.