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Vertex Pharmaceuticals Stock Surges on Kidney Drug Trial Success
Vertex Pharmaceuticals Stock Surges on Kidney Drug Trial Success
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BTCCSquare news:
Vertex Pharmaceuticals (VRTX) shares rallied 5-7% in extended trading after its experimental kidney drug povetacicept achieved primary endpoints in a late-stage trial for IgA nephropathy. The therapy reduced urine protein levels by 52% at 36 weeks—dwarfing the 4.3% decline in placebo patients—while slashing harmful antibodies by 79.3% and clearing blood in urine for 85% of participants.
The biotech plans to file for FDA accelerated approval by March's end, leveraging a priority review voucher to compress regulatory timelines to six months. Analysts at Cantor and Evercore lifted price targets to $590 and $530 respectively, citing transformative potential for the autoimmune kidney disease market.
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