PTC Therapeutics Board Authorizes $500M Share Repurchase Program

PTC Therapeutics, Inc., (NASDAQ:PTCT) today announced that its Board of Directors has authorized a share repurchase program under which PTC may repurchase up to $500 million of the Company's outstanding shares of common stock, subject to market conditions. 

"The share repurchase program reflects our deep conviction in the strength of the Company and the prospects for near- and long-term growth," said Matthew B. Klein, M.D., Chief Executive Officer. "We are investing in PTC at a time when our shares provide a compelling opportunity while still maintaining the financial flexibility to support existing programs and pursue potential value creative business development transactions."