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Vertex Pharmaceuticals Incorporated Message Board

  • damfino_ii damfino_ii Dec 6, 2007 11:35 PM Flag

    ceo selling not good sign

    I'm long and unhappy about that.
    Seems like a bad time to sell unless you know something,
    which I'm sure he does. But what?

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    • Joan you are so desparate that now you are resorting to outloud lies. Here is a link for you about VRTX and Tibotec:

    • Lookit they are always selling stock.
      Look at Corp Communications Brum selling last year.
      10-b 5 is a joke as they can still plan sales ahead of bad news

    • So what? He's exercised almost 168,000 of them. What's the big deal?

      December 09, 2007 11:12 AM ETHEALTH CARE SECTOR | BIOTECHNOLOGY INDUSTRYVertex Pharmaceuticals Inc.
      LAST $25.49 USDCHANGE TODAY -0.42 -1.62%VOLUME 1.0MVRTX On Other ExchangesAs of 4:00 PM 12/7/07 All times are local (Market data by Reuters is delayed by at least 15 minutes).
      SnapshotNewsChartsFinancialsEarningsPeopleOwnershipTransactionsOptions OverviewBoard of DirectorsCommittees
      Joshua S. Boger Ph.d.

      Restricted Stock Awards $579,222

      Exercised Options 167,880
      Exercised Values $3,395,934

      Exercisable Options 1,230,418
      Exercisable Values $21,486,746

      Unexercisable Options 752,113
      Unexercisable Values $4,792,126
      Total Value of Options $29,674,806
      Total Number of Options 2,150,411

    • Tibotec did not commit to pay 500 millions to VRTX in once, and it was based on the projects they co-developed. So, the cost of every new project would be shared in 50 / 50 between two parties. That was the reason that VRTX had hired more than 100 new employees this year to increase their spending. After Tibotec found that Telaprevir was not as promising as VRTX claimed, so that they pulled out, and started working on their own PI for the same indication. Nor sure what was the exactly $$$ amount that VRTX received from Tibotec, but it should be detailed in their most recent 10Q, IMHO.

    • Joan, Did Tibotec pull out of the Telaprevir trial? I never heard of that. If so, management may have some explaining to do very soon. BTW, the key sales were the ones by Alam and Ian Smith. They were huge percentagewise, and these guys were on top of all FDA "talks". They don't have what it takes to "manaage" the FDA's idisyncrasies(wheeling and dealing).

    • By the looks of all the insider sales taken place during the last peek, it seems as if they dont expect it back there in a while.

    • I guess I didnt like the part of the news blurb which is actually just standard stuff.."The stock sale was conducted under a prearranged 10b5-1 trading plan, which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information." The prearranged part would be fine with me if the date was prearranged also. Does anyone know about that? What I fear is this was prearraged with no specific date or a wide date range and he picked this time because of "..comes into possession of material nonpublic information", Maybe not true but its kinda scary to read that aspect at a time like this with some doubts about phaseIII. Market didnt seem to pleased either.

    • Sorry, racist. I came from Africa., and I am Africa American.

    • CEO sold was prearranged, that is normal he did not sell only 17,500 shares not alot compared to what he holds, This is not a problem,

    • As it has been said many many times before, these officers are only selling their EXERCISED shares and on top of that these trades are all prearranged well in advance of their happening to preclude the use of any good or bad insider info in one's exercise and sell orders. These are according to FTC rules so that they could not be accused of insider trading.

      Also the reason they do not keep their exercised shares is because they have to pay for the exercise price as well as capital gains tax right away. Whatever is left they consider as part of their salary and many spend that money on their better than average family lifstyles.

      The cause for concern is when officers start selling their main holdings which has not happened recently as far as I know.

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