Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) ended Thursday session in green amid volatile trading. The shares closed up +2.48 points or 2.67% at $95.36 with 4.13 million shares getting traded. Post opening the session at $94.07, the shares hit an intraday low of $94.06 and an intraday high of $97.93 and the price vacillated in this range throughout the day. The company has a market cap of $26.47 billion and the numbers of outstanding shares have been calculated to be 248.03 million shares.
Vertex Pharmaceuticals Incorporated (VRTX) recently declared the results of a Phase 3 study of ORKAMBI® (lumacaftor/ivacaftor) in children with cystic fibrosis (CF) ages 6 through 11 who have two copies of the F508del mutation. The study met its primary endpoint of absolute change in lung clearance index (LCI2.5) through 24 weeks of treatment, demonstrating a statistically noteworthyimprovement in LCI2.5 among patients treated with ORKAMBI contrast to placebo. LCI is a sensitive measure of lung function in early CF disease and the European Medicines Agency (EMA) agreed to the primary endpoint for this study. In the first half of 2017, Vertex plans to submit a Marketing Authorization Application (MAA) line extension to the EMA for the use of ORKAMBI in this patient population. Data from a previous Phase 3 open-label safety study in children ages 6 through 11 supported the U.S. Food and Drug Administration approval of ORKAMBI in September 2016. In this second study, ORKAMBI was well tolerated with safety data that were similar to data from the previous Phase 3 study. There are about 3,400 children ages 6 through 11 who have two copies of the F508del mutation in Europe.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) ended Thursday session in red amid volatile trading. The shares closed down -0.35 points or -0.32% at $108.76 with 594,636 shares getting traded. Post opening the session at $110.13, the shares hit an intraday low of $106.55 and an intraday high of $111.03 and the price vacillated in this range throughout the day. The company has a market cap of $9.72 billion and the numbers of outstanding shares have been calculated to be 89.66 million shares.
IDEXX Laboratories, Inc. (IDXX) reported revenues for the third quarter of 2016 of $448 million, a boost of 10% contrast to the prior year period, on both a stated and organic basis. Q3 results were driven by robust global CAG Diagnostics recurring revenue, counting strong IDEXX VetLab® consumables and reference laboratory revenue growth in both the US and international regions, in addition to high single-digit growth in the Water business. Based on this continued strong performance and commercial model traction, the Company is adjusting its full year 2016 revenue growth and earnings per diluted share (“EPS”) toward the high end of its previous guidance ranges. The Company is also providing preliminary 2017 guidance for organic revenue growth of 9% – 10.5%, driven by high growth in CAG Diagnostics recurring revenues, and stated EPS gains of 17% – 24%, supported by constant currency operating margin expansion, consistent with its long-term aims.