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Vertex Readies For Major Readouts, With Data Due Soon In Big Pain Market

Phase II LSR Results For Suzetrigine Due By Year End

 
• By Mandy Jackson

Q3 revenue beat consensus and Vertex raised its guidance, but R&D progress was the main highlight across the cystic fibrosis, kidney disease, type 1 diabetes and, particularly, pain pipeline.

Vertex may win two new drug approvals in the US in January (Shutterstock)

Vertex Pharmaceuticals reported third quarter revenue that exceeded expectations and raised its full-year guidance as a result, which analysts described as a typical quarter for the company. What generated greater interest within Vertex’s Q3 report, however, were its research and development updates, with several late-stage milestones revealed, including highly anticipated progress within the company’s pain pipeline.

Key Takeaways

Vertex reported $2.77bn in Q3 product revenues, beating consensus of $2.69bn, and raised its 2024 revenue guidance to $10.8bn-$10.9bn from $10.65bn-$10.85bn.

The positive earnings report was overshadowed by the company’s R&D pipeline updates, particularly its pain programs, including suzetrigine, pending at the US FDA for acute pain.

Near-term readouts are expected in late 2024 for suzetrigine from a Phase II LSR pain study, in the first half of 2025 from a Phase I/II trial of an inhaled mRNA therapeutic for CF, and in 2025 for a second cell therapy for type 1 diabetes.

Boston-based Vertex reported after the stock market closed on 4 November that its commercial products delivered $2.77bn in Q3 revenue,...

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