According to Zhitong Financial APP, the stock price of the usa biopharmaceutical company ptc therapeutics (PTCT.US) rose 21% in pre-market trading on Monday, following the company's signing of an exclusive global license and collaboration agreement for the PTC518 Huntington's disease project with novartis ag (NVS.US).

PTC518 is currently undergoing a phase 2 PIVOT-HD trial and has shown good safety and tolerability.

The agreement is expected to be finalized in the first quarter of 2025. Under the agreement, ptc therapeutics will receive a $1 billion upfront payment, up to $1.9 billion in development, regulatory, and sales milestones, a 40% profit share in the usa, and a tiered double-digit sales royalty outside the usa.

novartis ag will be responsible for the development, manufacturing, and commercialization of PTC518.

Huntington's disease is reportedly a common autosomal dominant hereditary neurodegenerative disease. Patients typically present symptoms in middle age, characterized by chorea-like movements, and gradually lose the ability to speak, move, think, and swallow as the disease progresses, lasting about 10 to 20 years and ultimately leading to patient death.