I am a liver md and attended the meeting. I sold on Wed. The drug probably works best over bocepravir but there were several abstracts showing excellent results to other prot inhibitors that are once a day dosing as well as non protease drugs with less side effects. I came away thinking that telepravir will be like tagamet - first to market but quickly eclipsed by better agents. JMHO.
I have no position in Vertex yet, but will.
I'm wondering why you think Vertex will not be a good investment until these other drugs come to market, then? How far along were the drugs in these abstracts? phase I? phase II? and then once it has lost its market dominance, why wouldn't there be a complementary role for telaprevir with the "non protease drugs with less side effects?"
It is worse because the market is moving in the other direction today. Large blocks peeling off at the end of trading as well. We probably will never know who or what entity is trading like this or why but I suspect someone simply came to the point of needing funds... Unless we find out some contrarian news tomorrow in which case a leak to the same news, but a small one to a small party...
Hard to be patient but one day will we wake up to news of a buyout offer or fda approval and a nice rally will occur around that. Been here for a long, long time but it will happen in the next six months or so. Good luck to the investors who believe in the drug and the company and to hell with the rest of them. It is a rigged market but fun to try and make some money on medical science and their worthy efforts while rooting them on all the way!