Why Vertex Pharmaceuticals Stock Is Slumping Today
Shares of rare-disease specialist Vertex Pharmaceuticals (NASDAQ: VRTX) fell by as much as 15.7% in pre-market trading Thursday morning. The biotech's stock is under pressure today due to a worrying safety signal observed in a midstage trial for the small-molecule drug VX-814 as a potential treatment for alpha-1 antitrypsin deficiency (AATD).
Specifically, the drug's development is reportedly being discontinued after several patients in the study exhibited elevated liver enzymes. AATD is a genetically based condition associated with an increased risk of lung and liver disease.
Image source: Getty Images.
Source Fool.com
