I am a long term holder of vertex in my portfolio, with a sizable amount of my investment. So I think the company will do well, because at the end the good data will prevail, and if the CF drugs are approved the stock will do well.
My point here is to express my profound disappointment at Vertex management on how they manage the communication of clinical data. They are incapable of conveying an uniform and clear message. Even when I think the CF data is good, one has to think if they are screwing up the clinical data given their incompetence describing the data. I am not even sure any longer if the data analysis is biased. From the initial interim data analysis, to the intern data correction, to the final results everything has been inconsistent! How they can mess up so much in communicating clinical data ... it is scary that these are the people making the decisions at the top ...
I think the problem lies with the fact that everyone including managment and investors want the "interim" data to be published. The release of interim data usually creates problems down the road because it builds up higher than reasonable expectations. After the conclusion of the phase data, it disappoints investors and the pps tanks.
If the management would not have been in such a hurry and had not releasedd the interim data when it did, it would have probably had plenty of time to discover the error of the vendor's analysis. There would have been no need to have a news release to say we screwed up.
IMHO, had they waited and not released the interim data when they did, yesterday with the release of the news the stock would have gone through the roof possibly into high 60's from where it would have been (without the interim news) which i believe it was in mid 40's .
>>IMHO, had they waited and not released the interim data when they did, yesterday with the release of the news the stock would have gone through the roof possibly into high 60's from where it would have been (without the interim news) which i believe it was in mid 40's .
I fully agree with you. That's what makes me angry. The data is very good, much better that I imagined it would be. But they have handled the communication of the data so poorly that we, the investors, get penalized as it is difficult to understand and they look not credible.
Amen. The best case for investors and, particularly, patients is to sell this company to a reputable pharma. When it gets to the point where people are "doubting" clinical data, confidence has been lost.