Vertex Stock Falls After Pain Drug Setback Overshadows Strong Quarterly Earnings

Vertex Pharmaceuticals shares fell 14% in post-market trading Monday after the company said it will not advance its next-generation pain treatment into further trials, according to The Wall Street Journal. The biotechnology company said its pain treatment, VX-993, failed to meet the main goal in a Phase 2 study. The drug was meant to follow Journavx, which the FDA approved earlier this year for moderate-to-severe acute pain. The setback overshadowed a strong second-quarter performance, with Vertex reporting a profit of $1.03 billion and adjusted earnings of $4.52 per share, beating expectations of $4.27. Revenue rose 12% to $2.96 billion, driven by robust demand for a cystic-fibrosis treatment and contributions from three new therapies. Vertex reaffirmed its full-year revenue guidance of $11.85 billion to $12 billion, citing minimal impact from tariffs.