PTC spikes on takeout rumors

PTC Therapeutics Inc. (NASDAQ:PTCT) rose $9.77 (18%) to $64.96 on Monday on media reports that companies including BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) and Shire plc (LSE:SHP; NASDAQ:SHPG) are seeking to acquire the rare disease play. PTC did not respond to inquiries; BioMarin and Shire declined to comment.

The European Commission last year granted conditional approval to PTC's Translarna ataluren, a small molecule that facilitates complete translation of proteins containing nonsense mutations, to treat nonsense mutation Duchenne muscular dystrophy (DMD). ...