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10/15/2020, 4:17 PM (Source: TeleTrader)
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Vertex Pharma sinks 17% after halting protein study

Shares of Vertex Pharmaceuticals Inc. plunged almost 17% on Thursday after the company revealed it had stopped research on the drug that was supposed to be used in patients suffering from antitrypsin deficiency, an inherited condition that raises the risk for lung and liver diseases.

"Based on the liver enzyme elevations observed, along with the determination that we wouldn't be able to safely achieve targeted exposure levels with VX-814, we are discontinuing further development of this molecule," Vertex's Executive Vice President Carmen Bozic explained announcing the decision.

Vertex's stocks sank 16.72% to sell for $225.87 per share at 10:16 am ET.

Breaking the News / ND