PTC Therapeutics (NASDAQ: PTCT) shares tumbled 2.7% Thursday after the biopharmaceutical company reported fourth-quarter results that missed Wall Street expectations on both earnings and revenue. The company posted a net loss of $135.0 million, or ($1.67) per diluted share, well below the consensus estimate of ($0.26), while total revenues of $164.7 million fell short of the $256.93 million forecast.

Despite the quarterly miss, PTC's full-year 2025 performance showed significant strength, with total revenues surging to $1.73 billion from $806.8 million in 2024. This growth was driven primarily by $998.4 million in collaboration and license revenue from the Novartis agreement, along with $831 million in product and royalty revenue. The company's flagship therapy Sephience™ (sepiapterin) has shown strong momentum since its launch, generating $92 million in fourth-quarter revenue and reaching 946 patients on commercial therapy worldwide.

PTC guided for 2026 total product revenue of $700 million to $800 million, representing 19% to 36% growth but falling short of the $990.3 million consensus estimate. The company ended 2025 with $1.95 billion in cash, cash equivalents and marketable securities, providing financial flexibility as it approaches cash flow breakeven. CEO Matthew B. Klein emphasized the successful global launch of Sephience and the company's strong commercial engine as key drivers for future growth.