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VERTEX: A HIGH-TECH ASSAULT. XOMA: WHY INVESTORS ENTHUSIASM?

  Thursday, July 05, 2012

This article is not about Vertex (VRTX)but we could not refrain from expressing our anger about the high-tech slaughter of VRTX on Thursday June 28, 2012. What happens in such situations benefits only those who bet against excellent biotech stocks, who know, in fact, that if the prices continue to rally, they can still do whatever it takes to bring them down at the appropriate moment in time. Vertex’s statement was straightforward, pointing to the successful outcome of its small mid-stage clinical trial cocktail of drugs in improving cystic fibrosis (CF) patients’ lung function after eight weeks of treatment. Patients were treated with increasing doses of VX-809 for four weeks, and continued to take the drug for four more weeks together with either Kalydeco or a placebo. The candidates who were on both drugs had better lung function and less debilitating CF complications. We ask analysts who claimed that investors were skeptical about the cocktail’s efficacy: Do you have better, or even equal, outcomes from any investigational or marketed CF drugs that compare to the results of Vertex’ drug combination?  More...


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