Investing.com – Vertex Pharmaceuticals (NASDAQ: VRTX) stock fell 12% in early trading on Friday after the company decided not to pursue its attempt to develop a drug for a rare liver disease.
This is a setback for the biotech’s attempt to expand beyond cystic fibrosis drugs.
After publishing results from a mid-stage study, Vertex said the treatment, VX-864, will Patients are unlikely to benefit significantly. This is the second time the company has stopped developing a similar compound for safety reasons.
The two trials were aimed at developing a treatment for alpha-1 antitrypsin deficiency. It is an inherited disease in which the patient’s liver does not produce the protein needed to protect themselves and the lungs.
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