Shares of PTC Therapeutics Inc. fell more than 35% following news the company received a refuse to file letter from the U.S. Food and Drug Administration for a new drug, Translarna. The FDA, according to a news release, said the application for Trnaslarna was not up to standards in order to permit a substantive review. Translarna is a protein restoration therapy tasked with treating a form of muscular dystrophy mostly affecting men. PTC said it is examining what its next steps are.
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