Vertex Retail Sentiment Hits Yearly Low On Mixed Neurological Therapy Trial Data, Stock Eyes 7-Month Low
By Stocktwits Inc | First Published Dec 19, 2024, 7:51 PM ISTThe reduction in pain for suzetrigine was nearly identical to that observed in the placebo arm.
Shares of Vertex Pharmaceuticals fell more than 10% premarket Thursday, on track to hit lows last seen in early May, following the release of mixed data from a Phase 2 study on its investigational oral pain signal inhibitor.
The stock was among the top 10 trending symbols on Stocktwits as retail sentiment for the biotech firm plunged to ‘extremely bearish’ (7/100) levels. This marks the lowest sentiment score for the company in a year.
Latest Videos
The trial, which focused on treating painful lumbosacral radiculopathy (LSR) with suzetrigine, met its primary endpoint, showing statistically significant reductions in pain based on the numeric pain rating scale (NPRS).
However, the reduction in pain for suzetrigine was nearly identical to that observed in the placebo arm.
The study was not designed to statistically compare suzetrigine to placebo, the company said.
On Stocktwits, some investors expressed disappointment, noting that the results lacked a clear indication of efficacy over placebo, drawing comparisons to Pfizer’s Lyrica, which had failed to show benefits in treating sciatic pain.
Others questioned the timing of the announcement, which came a day after the Federal Reserve hinted at slower rate cuts for 2025, an indication that had already pushed markets lower.
Despite the setback, many analysts remain bullish on Vertex due to its robust drug pipeline, particularly its therapies for cystic fibrosis.
The Vertex stock has gained over 10% year-to-date, but the mixed suzetrigine results have clouded near-term investor sentiment.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here. For more reliable and latest news
subscribe to Asianet Newsable Telegram channel by clicking here.