PTC Therapeutics: Takeaways from our group dinner with PTCT CEO

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PTC Therapeutics: Takeaways from our group dinner with PTCT CEO

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PTC Therapeutics

Takeaways from our group dinner with

PTCT CEO

Maintain Rating: BUY | PO: 93.00 USD | Price: 71.56 USD

See opportunity for >$2bn in global Sephience sales 20 May 2026

We hosted PTCT CEO, Dr. Matthew Klein, for a group dinner in NYC to discuss the Equity

Sephience launch, pipeline updates and the company’s business development strategy,

Tazeen Ahmad

with PTCT reiterating confidence in >$2bn global peak sales potential for Sephience. Research Analyst

Management commentary remained consistent on the US Sephience launch, highlighting BofAS +1 646 855 4236

broad demand across all key patient segments with >90% of PKU COEs activated and tazeen.ahmad@bofa.com

continued expansion into non-specialty centers. Klein reiterated new scripts have Daniel Giraldo

stabilized around ~140 per month following an initial bolus of interested patients in the Research Analyst BofAS

first several months post-launch (approved late-July 2025), which he views as a durable daniel.giraldoperez@bofa.com

cadence supported by a large, experienced patient base (>70% of patients have tried Jeremiah Lorentz

Kuvan). We highlight launch commentary is in-line with our recent 1Q physician survey, ResearchBofAS Analyst

which indicated steady near-term script writing with expectation for strong penetration jeremiah.lorentz@bofa.com

overtime (up to 43%). We will continue to poll physicians in coming quarters to better Wesley Yon

understand expectations for launch trajectory. We maintain our Buy with $93 PO. ResearchBofAS Analyst

Sephience ex-US opportunity not to be overlooked wesley.yon@bofa.com

Klein emphasized that the ex-US opportunity is likely underappreciated, supported by an