As of July 23, 2022, $VRTX stock has pulled back over the last three trading days, which short-term swing traders have taken notice. The TTM Squeeze bands are still falling, suggesting it might be too early to put on a long swing trade in $VRTX stock.
Vertex Pharmaceuticals is focused on the discovery, development, and commercialization of small molecule drugs targeting severe diseases. The company’s main area of focus is cystic fibrosis. The company’s lead marketed products are Trikafta, Symdeko/Symkevi, Orkambi, and Kalydeco, which are collectively approved to treat the people with CF in North America, Europe, and Australia. Trikafta, Vertex’s triple combination regimen, was approved by the FDA for the treatment of CF in people aged 12 years and older who have at least one F508del mutation. While CF remains the central focus, Vertex is also developing treatments for sickle cell disease, beta thalassemia, APOL1-mediated kidney disease, type 1 diabetes, pain, alpha-1 antitrypsin deficiency, and muscular dystrophies.
Candidate For a New Way To Manage Pain Without Addictive Opioids
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) today announced that following the positive Phase 2 results earlier this year and having reached an agreement on the design of the pivotal development program with the U.S. Food and Drug Administration (FDA), Vertex plans to advance the selective NaV1.8 inhibitor VX-548 into Phase 3 clinical trials in the fourth quarter of 2022. Vertex also intends to initiate a Phase 2 dose-ranging study of VX-548 in neuropathic pain by the end of this year. In addition, the FDA has granted VX-548 Breakthrough Therapy Designation for the treatment of moderate-to-severe acute pain.
The Phase 3 program will include two randomized, double-blind, placebo-controlled studies evaluating the efficacy and safety of VX-548 for moderate to severe acute pain following bunionectomy or abdominoplasty surgery. Both studies will also include a hydrocodone bitartrate/acetaminophen treatment arm. A third, single-arm study will evaluate the safety and effectiveness of VX-548 for up to 14 days across multiple other types of moderate to severe acute pain.
“We are very pleased to complete our discussions with the FDA and reach an agreement on the design of the pivotal development program for acute pain,” said Carmen Bozic, M.D., Executive Vice President, Global Medicines Development and Medical Affairs, and Chief Medical Officer at Vertex. “VX-548 has demonstrated a positive benefit-risk profile in Phase 2, and we are working with urgency to bring forward a medicine that delivers effective pain control without the addictive potential to patients who are waiting.”
The company has been growing revenue nicely over the last five quarters. Annual sales growth over the previous five years is a sweet 34.8%.
Insider Trading Congress Member Bill Keating Buys $VRTX Stock
Democrat Congress member Bill Keating bought $VRTX stock back on March 29, 2022. He purchased about $10,000 worth of stock.