STAT+: Vertex reports an earnings miss and pause on cystic fibrosis trial
Vertex shares fell in after-hours trading, as investors considered a stock trading near its all-time high with a longer wait for its next leg of growth.
Vertex Pharmaceuticals on Monday reported disappointing first-quarter earnings impacted by weaker-than-expected sales of its drugs for cystic fibrosis, and little or no contributions from a gene therapy for sickle cell disease and a recently launched pain medicine.
A “tolerability issue” caused a temporary pause to an early stage study involving a closely watched, inhaled, mRNA-based therapy for cystic fibrosis, the company said.
Vertex shares fell 3% in after-hours trading, as investors considered a stock trading near its all-time high with a longer wait for its next leg of growth.
