If you thumbs down the words of the manager's of your own investment... maybe you should rethink your investment. ~ Enjoy!
Vertex Mgmt: "Whether we would pursue the ribavirin and 135 combination, I think it's unlikely, given the efficacy results that others have generated and obviously, our work going forward would be likely with the declatasvir in combination in those other genotypes."
~ Where have you had your head? Is your planning horizon next week???
Vertex Mgmt: "We anticipate will be a $1.1 billion operating expense in 2013. We are pretty tight on those costs."
~ Yeah... if you don't get your #$%$ together with some new revenue... you are riding this pony straight into the ground in only 12 months... keep up the good work guys!
Vertex Mgmt: "We are planning for success at this point, that's how we run our business at this point in time"
~ What about all the other 'points in time'?
Analyst: "You said you're starting a homozygous study, a 12-week study. That data probably comes out sometime after the 809 stage, so maybe you can explain what the point of that study is? And what we do with that, once that data comes out. - The reason for that, obviously, is that we want to be able to assess PK/PD and efficacy and dose response as part of that study. - As to when the data would come out from those 2 studies? I really can't speculate at this point. "
~ But you are going to forecast spending the money! - Face palm.
Vertex Mgmt: "So we have a short-term financial issue that we're addressing in 2014 as Ian described, but it just doesn't make sense to cut the long-term engine of growth for a short-term financial issue."
~ Spending 78% of your cash on hand with catastrophically diminishing net income is NOT a "short term" financial issue... well it is if you going to go bankrupt.
Vertex Mgmt: "we hope to begin to give you visibility to some of that next year. As you know, traditionally we do provide visibility once we begin to see human proof-of-concept data and we hope for some of the programs that will be beginning next year."
So we have no human "proof of concept data"... but we are "planning for success" "at this time"
Analyst: "how do you extract maximal value from 509? Has there been significant interest from other parties, I don't know to what extent you can comment on that but when do you think would be the right time to look a partner. "
Vertex Mgmt: "To get full success from the opportunity, you need to run multiple, let's say, multiple studies, multiple -- in multiple diseases to get the full benefit as most companies are doing. Given our focus at this point in time, we look for somebody else to do that. So we continue to explore partnerships."
~ Yeah, we have good data. Everyone else has thier own drugs and own studies and are not willing to pony all the costs and pay us for it. We will continue to "explore"...
Vertex Mgmt: "But our focus right now is around cystic fibrosis and all-oral therapies for hepatitis C and also continue to invest in research."
~ So basically what you are saying is that VX-509 is going to sit on a shelf while the rest of the world continues to move forward... When did flu season start again? Any mention of VX-787?
Vertex Mgmt: "Flu is not a program that we're going to invest in further, just to be clear about that, nor do we plan to invest in 509 further."
~ That's right folks... take VX-787, and VX-509 out of your valuation models. Take out Incivek as well. This is now a one trick pony (Kalydeco) with the potential for future CF patients.