PTC takes jobs cuts to a quarter in further restructuring

2 October 2023

US pharma company PTC Therapeutics (Nasdaq: PTC) has announced a further strategic prioritization and associated reduction in its workforce.

The portfolio prioritization continues the process initiated in May - when 8% of PTC’s job roles were axed as the company continues to focus its resources on its differentiated, high potential R&D programs and on support of the robust global commercial infrastructure.

In May, it was announced that pre-clinical and early research programs in gene therapy would be cut, including those in Friedreich ataxia (FA) and Angelman syndrome, as well as several others targeting rare central nervous system (CNS) and ophthalmological disorders.

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