PTC Therapeutics, Inc. (NASDAQ:PTCT) stock closed yesterday’s trading session at $30.09 losing 1.34%. Its performance has improved slightly following its announcement that it launched its PRIORITY funding program.
The company announced on January 31, revealing the launch of its annual funding program called PRIORITY. The latter will collect funds that will be pumped into fund programs that are focused on improving infant screening for Duchenne muscular dystrophy. The latter is a progressive muscle wasting disease that occurs due to the lack of a protein called dystrophin whose function is to keep muscle cells in place.
“As a research-driven, patient-centric company, it’s important to PTC that we support the efforts of clinicians and researchers who share our passion for improving the clinical care of people with rare, genetic disorders,” stated Dr. Claudio Santos, PTC Therapeutics’ Senior Vice President of Medical Affairs.
Faster diagnosis is the key focus
Dr. Santos also pointed out that his company’s goal is that it can use the PRIORITY program each year to help speed up research sustainable, practical and innovative solutions for muscle-related disorders. He also added that PTC Therapeutics was pleased to be working on opportunities that will help improve Duchenne screening and diagnosis. This will help facilitate early diagnosis as well as rapid delivery of best care for patients.
This year’s PRIORITY program has already invited funding proposals from physicians that operate in different fields such as genetics, neurology, and pediatrics. The program is currently accepting proposals until March 31 this year. The project will divide $500,000 between successful applicants, and it plans to announce the grant recipients in April.
The project will reach out to experts from different parts of the world
The PRIORITY program will handle the application review process through an external Review Committee made up of independent Duchenne experts from different countries. Dr. Yann Péréon of University Hospital – CHU Nantes stated that the PRIORITY program would seek out innovative initiatives that will facilitate better and faster Duchenne screening. He noted that early diagnosis is vital towards making sure that patients receive medical care as early as possible.