Either they have success with VX-809/Kalydeco or VX-661/Kalydeco or the stock may not ever recover. The CEO said they were all-in with cystic fibrosis and he was not kidding. Terence Flynn of Goldman Sachs says he does not believe VX-809/Kalydeco works. I think it does work but it will be at least another year before anyone knows for sure.
True, these studies represent binary events for the stock. The near term problem is the lack of a positive catalyst. I expect they will withhold VX-787 to counter weak q4 results in January.
Whether you agree with Terence Flynn or not regarding VX-809, he made a valid point regarding the release of interim VX-661 data. It would be of great benefit to investors to have any data event looming to halt this decline.
Vertex got burned so badly when they bungled the release of phase 2 VX-809 data last May that I think they were not going touch Terrence Flynn's question regarding interim phase 2 VX-661 data with a 10 foot pole. Even if the data is fantastic.