Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)
Vertex Pharmaceuticals is having an overwhelmingly strong start to the day in the pre-market hours after announcing positive clinical trial data. As a result, investor excitement ensued (see what investors are saying on StockTwits), leading to an alert from our partners at Trade Ideas. Currently (9:02), VRTX is trading at $108.29 per share after a gain of $18.62 per share or 20.77% thus far today.
VRTX Releases Positive Clinical Data From Cystic Fibrosis Studies
As mentioned above, Vertex Pharmaceuticals is having an incredibly strong day in the market today, and for good reason. The company has announced the success of two clinical trials surrounding tezacaftor as a treatment for the underlying cause of cystic fibrosis. This is overwhelmingly positive news as the treatment will enable the company to treat more patients and it may give VRTX the ability to keep competitors in the dust.
The study showed that through the course of 24 weeks, when combining tezacaftor with ivacaftor, an already approved drug by VRTX, patients saw improved lung function by 4%. This was statistically significant news that showed the primary endpoint was met! In a statement, Dr. Steven Rowe, Director of the Cystic Fibrosis Research Center at the University of Alabama at Birmingham had the following to offer with regard to the news…
“We treated low double-digits of patients with teza/iva and we really haven’t seen symptoms of chest tightness and dyspnea that we clearly observe when patients are on Orkambi…”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on VRTX. In particular, we’re interested in following the company through its ongoing work surrounding tezacaftor as this treatment looks to be overwhelmingly promising. Nonetheless, we’ll continue to follow the story closely and bring you the news as it breaks!
What Do You Think?
Where do you think VRTX is headed moving forward? Join the discussion in the comments below!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Wikimedia]