PTC Therapeutics reversed multi-year losses in 2025 with $1.73 billion in total revenues and net income of $683 million, primarily driven by growth in its Duchenne muscular dystrophy therapies and the recent commercial launch of Sephience for PKU. The company’s acquisition of Censa and milestone-triggered payments under license agreements contributed to expanded pipeline assets but entail significant contingent liabilities. Robust operating cash flow and near $1 billion in cash support ongoing R&D investments and commercial expansion, while future growth hinges on further development progress and regulatory approvals.