Vertex Pharmaceuticals Stock Heads for Worst Day in 4 Years
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Vertex Pharmaceuticals' stock is experiencing a significant drop, down 13% to $389.21, following disappointing phase 2 study results for its non-opioid painkiller, Suzetrigine, which showed no better results than a placebo.
December 19, 2024 | 4:30 pm
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Vertex Pharmaceuticals' stock dropped 13% due to its non-opioid painkiller, Suzetrigine, failing to show efficacy over placebo in a phase 2 study.
The failure of Suzetrigine in the phase 2 study is a significant setback for Vertex Pharmaceuticals, as it impacts the potential marketability and future revenue from this drug. The market reacted negatively, causing a 13% drop in stock price.
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IMPORTANCE 90
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