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News Breaks
June 4, 2014
08:01 EDTVRTXVertex reports improvement in lung function in proof-of-concept ivacaftor study
Vertex Pharmaceuticals announced the results of a two-part proof-of-concept study of ivacaftor in 24 people with cystic fibrosis who have a residual function mutation. The first part of the study evaluated ivacaftor, compared with placebo, in a two-week crossover design over two treatment cycles, and the second part of the study evaluated ivacaftor in an eight-week open-label design. In part one, a statistically significant improvement in mean absolute lung function was observed after treatment with ivacaftor for two weeks compared with placebo. In part two of the study, improvements in lung function were observed after eight weeks of treatment. In the study, ivacaftor was generally well-tolerated, and the most common adverse events in the treatment group were cough and respiratory tract infection. This proof-of-concept study was the first to evaluate the use of ivacaftor in multiple residual function mutations and is supported by in vitro observations that showed ivacaftor enhanced the function of the cystic fibrosis transmembrane conductance regulator protein in cells with residual function mutations. Based on these data, Vertex plans to initiate a larger Phase 3 study in people with residual function mutations that will evaluate longer-duration treatment with ivacaftor, pending discussions with regulatory authorities.
News For VRTX From The Last 14 Days
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October 17, 2014
10:27 EDTVRTXVertex FDA panel expected to be positive at Piper Jaffray
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10:26 EDTVRTXFDA panel asked to consider benefit of Vertex drug in younger CF patients
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October 14, 2014
13:59 EDTVRTXVertex mentioned cautiously at BofA/Merrill
October 13, 2014
10:08 EDTVRTXOn The Fly: Analyst Upgrade Summary
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09:23 EDTVRTXVertex price target raised to $131 from $119 at RW Baird
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05:35 EDTVRTXVertex upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Vertex Pharmaceuticals to Overweight citing likely approval of the company's Kalydeco plus lumacaftor combination next year. Piper expects Vertex's Cystic Fibrosis sales to grow to $3.1B in 2016 and raised its price target for shares to $125 from $87.50.
October 10, 2014
08:24 EDTVRTXVertex price target raised to $117 from $109 at Maxim
Maxim raised its price target for Vertex shares to $117 after the company gave an update at the Cystic Fibrosis Conference. The form keeps a Buy rating on the stock.
October 9, 2014
09:33 EDTVRTXVertex says VX-661 Phase 2 study fully enrolled
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07:22 EDTVRTXCystic Fibrosis Foundation to hold a conference
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October 7, 2014
07:46 EDTVRTXPTC Therapeutics weakness a buying opportunity, says Oppenheimer
Oppenheimer believes that the Street is underestimating the opportunity for PTC Therapeutics' (PTCT) Translarna in the most severe patients with Cystic fibrosis. The firm thinks the drug is not competitive with, and can potentially be complemented by, therapies from Vertex (VRTX). Oppenheimer views the weakness in PTC as a buying opportunity and keeps its Outperform rating on the shares.

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