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PTC shares soar on EU backing for muscular dystrophy drug

LONDON (Reuters) - Shares in U.S. biotech company PTC Therapeutics more than doubled in premarket dealings on Friday after European regulators recommended a conditional marketing authorization for Translarna, its drug for Duchenne muscular dystrophy.

European Medicines Agency experts had adopted a negative opinion on the drug in January.

Conditional marketing authorization is an early access mechanism for medicines that address an unmet medical need for patients suffering from life-threatening diseases, even if comprehensive clinical data are not yet available.

(Reporting by Ben Hirschler, Editing by Paul Sandle)