Vertex Stock Up 15 Percent on CF Data

2/23/11

Vertex Pharmaceuticals’ winning ways are being felt on Wall Street this morning. The Cambridge, MA-based drug developer’s (NASDAQ:VRTX) shock price was up 15 percent to $44:03 per share as of 10:14 am Eastern time today as investors reacted to positive results the firm revealed this morning from a late-stage trial of its treatment VX-770 for certain patients with cystic fibrosis. My colleague Luke Timmerman provided the details this morning of the game-changing study for certain patients with the genetic illness that causes thick mucus to build up in their lungs. The results follow the company’s impressive results from late-stage studies of its experimental treatment for hepatitis C infections, telaprevir. The company now has a market value of about $9 billion.

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