Vertex shares pop after nonopioid painkiller posts positive midstage trial results
Publishing timestamp: 2023-12-13 16:36:37
Summary
Vertex Pharmaceuticals' painkiller, being tested as an alternative to opioids, showed significant pain reduction in a midstage trial for diabetes patients suffering from chronic nerve conditions. The positive results support the company's hopes to develop a drug that can provide strong pain relief without the addictive potential of opioids. Analysts believe that if the painkiller wins approval from regulators, it could become a blockbuster drug with annual sales exceeding $1 billion. Vertex is working to advance the drug to a late-stage trial and is also testing it for acute pain. The stock of Vertex Pharmaceuticals jumped 13% following the release of the midstage trial data.
Sentiment: POSITIVE
Tickers: .AD.IXIC, VRTX, CRSP,
Keywords: business news, business, biotechnology, breaking news, health care industry, crispr therapeutics ag, vertex pharmaceuticals inc, pharmaceuticals, biotech and pharmaceuticals,