Key Developments For Vertex Pharmaceuticals Incorporated
Vertex Pharmaceuticals Incorporated (VRTX.O) (Nasdaq)
Vertex Pharmaceuticals, Inc. Announces Pricing of Public Offering Of Common Stock
Vertex Pharmaceuticals, Inc. announced that it has entered into an agreement to sell 11,500,000 shares of its common stock in an underwritten offering at a price to the public of $38.50 per share, which would result in aggregate gross proceeds of $442.8 million. Vertex has granted the underwriters an option to purchase up to an additional 1,500,000 shares of its common stock on the same terms and conditions. Goldman, Sachs & Co. is acting as the sole book-running manager for the offering, with BofA Merrill Lynch, J.P. Morgan Securities Inc., and Morgan Stanley & Co. Incorporated acting as co-managers.
Vertex Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
Vertex Pharmaceuticals, Inc. announced that it intends to offer, 10,000,000 shares of its common stock in an underwritten public offering under an effective shelf registration statement on file with the Securities and Exchange Commission. Vertex intends to grant the underwriters an option to purchase up to an additional 1,500,000 shares of its common stock. Goldman, Sachs & Co. is acting as the sole book-running manager for the offering.
Vertex Pharmaceuticals, Inc. Announces Agreements To Exchange $109 Million of its 2013 Convertible Senior Subordinated Notes into Common Stock
Vertex Pharmaceuticals, Inc. announced that the holders of its 4.75% Convertible Senior Subordinated Notes due 2013 have agreed to exchange approximately $109.0 million in aggregate principal amount of those notes and accrued interest for approximately 4.8 million shares of the Company's common stock, which is approximately 140,000 shares more than the number of shares into which the notes were convertible under their original terms. The Company anticipates that the exchanges will be completed by the close of business on November 13, 2009.
Vertex Pharmaceuticals, Inc. Announces 80% Of Hepatitis C Patients Treated In Study C208 Achieved An SVR With Telaprevir Based Regimens
Vertex Pharmaceuticals, Inc. announced that more than 80%of hepatitis C patients in each arm of the Phase 2 Study C208 achieved a sustained viral response (SVR) with a telaprevir based regimen according to results of an intent to treat (ITT) analysis. Telaprevir is a hepatitis C virus (HCV) protease inhibitor being developed by Vertex Pharmaceuticals Incorporated in collaboration with Tibotec and Mitsubishi Tanabe Pharma. Study C208 explored telaprevir based regimens dosed either every 12 hours (q12h; twice daily) or every eight hours (q8h; three times daily) combined with either peg-IFN-alfa-2a (PEGASYS) or peg-IFN-alfa-2b (PEGINTRON) and ribavirin (RBV), for 12 weeks followed by an additional 12 weeks of peg-IFN and RBV in a response guided trial design that included 161 treatment naïve patients (intent to treat analysis) with genotype 1 hepatitis C virus (HCV) infection. Across the four arms, SVR rates were 82 and 83% in patients treated with the every 12 hour telaprevir based regimen (PEGINTRON and PEGASYS, respectively) and 81 and 85% in patients treated with the every 8 hour regimen (PEGINTRON and PEGASYS, respectively). For the majority of patients, these SVR rates were obtained with a 24 week telaprevir based regimen.
Vertex Pharmaceuticals, Inc. Announces Interim Results From Study 107 Highlight Potential Role of Telaprevir Based Regimens In HCV Patients Who Failed Prior Treatment
Vertex Pharmaceuticals, Inc. announced that treatment with telaprevir based regimens in Study 107 resulted in high sustained viral response (SVR) rates in treatment-failure patients infected with hepatitis C virus (HCV). Interim results from 94 patients in Study 107 showed that 90% of prior treatment relapsers (n=29) and 55% of prior treatment partial responders (n=29) achieved an SVR after treatment with 24 week or 48 week telaprevir-based regimens, and 57% of prior treatment null responders (n=28) achieved an SVR after treatment with a 48 week telaprevir based regimen. At the time of this interim analysis, eight patients (7%, n=117) had discontinued all therapy due to adverse events, which included four patients who discontinued due to rash and one patient who discontinued due to anemia. Study 107 is an ongoing, open-label Phase 2 rollover study of patients who had received pegylated interferon (peg-IFN) and ribavirin (RBV) in the control arms of the Phase 2 PROVE studies and who did not achieve an SVR. Telaprevir is an investigational HCV protease inhibitor being developed by Vertex Pharmaceuticals in collaboration with Tibotec and Mitsubishi Tanabe Pharma.
