PTC Therapeutics (PTCT) received a complete response letter for vatiquinone in Friedreich’s ataxia from the FDA, citing lack of efficacy. RBC Capital notes the need for another study. The firm maintains an Outperform rating with a $63 price target, focusing on the Sephience launch. Investors were not surprised by this news.

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Read more at Yahoo Finance: PTC Therapeutics CRL ‘expected,’ focus moves to Sephience, says RBC Capital