Vertex Pharma rises after rival genetic disorder drug setback
VRTX•Vertex's cystic fibrosis franchise
VRTX markets Trikafta and Alyftrek for cystic fibrosis — a rare, chronic and life-shortening genetic disease which causes progressive lung damage.
Up to the last close, the stock was up about 9.5% year to date.
Vertex shares climb after Sionna trial failure
Shares of drugmaker Vertex Pharmaceuticals VRTX.O climbed 7.65% to $534 premarket after Sionna Therapeutics SION.O said it would discontinue development of its SION-719 experimental cystic fibrosis drug after it failed to meet the main goal in a mid-stage trial.
Investors have been concerned Sionna can pose a threat to VRTX's core cystic fibrosis business, but the trial failure is a clearing event, RBC Capital Markets said.
