PTC Therapeutics cuts leased space in half, reduces base rent by $57.7M

PTC THERAPEUTICS, INC.

Surrendered one of two buildings; premises reduced from 360k to 180k sq ft.
Aggregate base rent reduced by $57.7M; continues paying full rent through Dec 2027 then lower amount.
Landlord improvement allowance cut from $36.1M to $23.9M.
Letter of credit increased to $10M from $8.1M; could drop to $5M after Jul 2027 and $2.5M after Dec 2028.
Amendment effective Dec 31, 2024; related to Warren, NJ facility.

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