Here's Why Vertex Pharmaceuticals Rose 13.4% in November
Shares of Vertex Pharmaceuticals (NASDAQ: VRTX) gained more than 13% last month, according to data from S&P Global Market Intelligence. The monthly surge continued a sudden end-of-year rally for the pharma stock. Shares rose just 2.2% from the beginning of 2019 to the end of September but have risen 30% since the beginning of October.
Why are investors suddenly interested in the rare-disease specialist? Vertex Pharmaceuticals has announced a number of positive developments for its drug pipeline, including new partnerships and regulatory approvals. Specifically in November, the company and collaborator CRISPR Therapeutics announced that the first two patients dosed with CTX001 achieved promising, albeit early and ongoing, results.
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