Vertex Pharmaceuticals Inc (NASDAQ:VRTX) reported financial results for the second quarter after the market close on Monday. Here’s a rundown of the report.
- Q2 Revenue: $2.97 billion versus estimates of $2.90 billion
- Q2 Adjusted EPS: $4.52, versus estimates of $4.29
VRTX stock is slumping after-hours now. Track live prices here.
Total revenue climbed 12% year-over-year, primarily driven by the continued performance of cystic fibrosis (CF) therapies and early contributions from three ongoing launches. U.S. revenue was up 14% year-over-year and revenue outside the U.S. increased 8% year-over-year.
“Vertex delivered a strong quarter of revenue growth with each of our three product launches — ALYFTREK, JOURNAVX and CASGEVY — contributing, as well as continued advancement of our clinical programs,” said Reshma Kewalramani, president and CEO of Vertex Pharmaceuticals.
“As we enter the second half of the year, we are focused on expanding leadership in cystic fibrosis, executing the launches, advancing the pipeline, and preparing for submissions and commercialization in additional disease areas.”
Vertex ended the quarter with $12 billion in cash, cash equivalents and total marketable securities.
Outlook: Vertex continues to expect full-year 2025 revenue to be in the range of $11.85 billion to $12 billion versus estimates of $11.94 billion, according to Benzinga Pro.
Vertex management is currently discussing the quarter on a conference call that kicked off at 4:30 p.m. ET.
What Else: In connection with earnings, Vertex announced topline results from the Phase 2 study evaluating the safety and efficacy of VX-993 in treating acute pain after bunionectomy surgery. The company said treatment with VX-993 did not result in a statistically significant improvement on the primary endpoint, which appears to be pressuring shares.
“Based on these results, as well as the totality of preclinical data and results from our previous bunionectomy clinical studies, VX-993 is not expected to be superior to our existing NaV1.8 inhibitors and therefore we will not be advancing it as monotherapy in acute pain,” said Carmen Bozic, executive vice president of global medicines development and medical affairs, and chief medical officer at Vertex.
VRTX Price Action: Vertex Pharmaceuticals shares were down 13.93% in after-hours Monday, trading at $406.50 at the time of publication, according to Benzinga Pro.
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