<<CAMBRIGDE, MASS. (TheStreet) -- The combination of two experimental drugs from Vertex Pharmaceuticals(VRTX) improved the function of a protein that is defective or missing in most patients with cystic fibrosis, but the treatment effect was relatively small and may not be strong enough to improve lung function.
Vertex shares fell $4.14, or 7%, to $48.90 Thursday on investor concerns that the company's effort to develop a two-drug treatment for the most common genetic cause of cystic fibrosis looks to be more challenging than previously hoped.>>
Gee whiz..VRTX must have some good research capability in CF. VRTX is about a $10 BILLION market cap. IF VRTX has put so much effort into a CF program....wouldn't it make sense they may want to coninue exploring possible therapies wth the in house CF team they already have???
SO? what does RGRX have? Another possible CF therapy to explore. But RGRX is broke. VRTX is not. RGRX has the drug idea in TB 4. VRTX does not. VRTX has a full research staff for CF. RGRX does not.
<<<"These data open the door to the possibility of treating people with the most common form of cystic fibrosis by using two medicines together that target the defective protein that causes the disease," Vertex’s chief scientist Peter Mueller says in a statement.
The problem is the results don’t show a highly effective outcome and that’s why investors are selling off the shares today.>>
There's your contact, Finkelstein.....Peter Mueller.
VRTX is down over $5......there are 206 million shares out...so $1.03 BILLION in VRTX vale is gone today.
VRTX was doing a <<combo>> drug situation.
Why on earth wouldn't it make sense for RGRX (broke) to contact VRTX (rich with a CF setback) ????