Vertex Jumps More Than 25 Percent on Hepatitis Drug Data
Vertex Pharmaceuticals (NASDAQ:VRTX) of Cambridge, MA, saw its stock soar today after preliminary data from a small ongoing trial of its oral hepatitis C drug Telaprevir were released in a conference abstract.
The abstract indicated that patients for whom standard hepatitis treatments had previously failed responded well to Telaprevir. The data are scheduled to be presented at a late April meeting of the European Association for the Study of the Liver in Milan.
Vertex shares reached as high as $24.20 before closing at $23.89, up $5.23 (28 percent) from yesterday’s close.