Vertex (VRTX) Slammed After Correcting Lower Cystic Fibrosis Trial Data

Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) is under heavy pressure early Tuesday after correcting data about lung function from a Phase 2 trial of VX-809 and KALYDECO in cystic fibrosis patients sharply lower.

Corrected data showed that 35% of patients experienced an absolute improvement in lung function (FEV1) of at least 5 percentage points. Previously the company reported 46% of patients experienced an absolute improvement in lung function.

In addition, the company said 19% had at least a 10 percentage-point improvement when treated with VX-809 and KALYDECO. Previously the company reported 30% saw at least a 10 percentage-point improvement.

Patients treated with VX-809 and KALYDECO experienced an 8.5 percentage point mean absolute improvement in lung function compared to patients treated with placebo (p=0.002).

Shares of Vertex last traded at $50, down 23 percent.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nscale targets up to $3B in US IPO as soon as September - Bloomberg
• Anthropic hires Google chip veteran as it pushed into hardware - Bloomberg
• DOJ, TikTok settle for $400m in children's privacy suit - Axios