Vertex's $10 Billion Blow: Painkiller Trial Results Spark Investor Panic [Yahoo! Finance]
Vertex Pharmaceuticals Incorporated (VRTX)
Last vertex pharmaceuticals incorporated earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
The biotech heavyweight's much-anticipated non-opioid painkiller, suzetrigine, flopped in its latest Phase 2 trial for chronic lower back pain. The results? Pain scores for patients on suzetrigine barely edged out those on a placebo, with a reduction of 2.02 vs. 1.98 on a standard pain scale. That tiny margin wasn't enough to impress Wall Streetor investors. Shares nosedived 14% on Thursday, wiping out more than $10 billion in market value. Ouch. Warning! GuruFocus has detected 5 Warning Signs with VRTX. Here's the kicker: Vertex isn't giving up. They're pressing ahead with a Phase 3 trial, banking on tweaks to trial designs to tackle what they're calling a placebo response problem. Some analysts remain hopeful, but plenty aren't buying it. RBC Capital Markets went as far as calling this a near worst-case scenario for the drug's potential in chronic pain. Still, the FDA is reviewing suzetrigine for acute pain with a decision due by January 30, 2025so there's a glimmer of hope for
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VRTX
News
- Vertex to Present at the 43rd Annual J.P. Morgan Healthcare Conference on January 13Business Wire
- Vertex Secures FDA Approval for New Cystic Fibrosis Drug Alyftrek [Yahoo! Finance]Yahoo! Finance
- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) had its price target raised by analysts at Scotiabank from $426.00 to $430.00. They now have a "sector perform" rating on the stock.MarketBeat
- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) had its price target lowered by analysts at Truist Financial Co. from $550.00 to $460.00. They now have a "buy" rating on the stock.MarketBeat
- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) had its price target lowered by analysts at JPMorgan Chase & Co. from $503.00 to $500.00. They now have an "overweight" rating on the stock.MarketBeat
VRTX
Earnings
- 11/4/24 - Beat
VRTX
Sec Filings
- 12/20/24 - Form 8-K
- 11/19/24 - Form 4
- 11/15/24 - Form 144
- VRTX's page on the SEC website