Vertex Shares Plunge 14.4 Percent After Pain Drug Trial Misses Key Target and Study Halt

Vertex Pharmaceuticals’ bid to expand into non-opioid pain treatments was dealt a heavy blow as its next-generation drug VX-993 failed a critical mid-stage trial, triggering a sharp 14.4% after-hours share drop. The drug reduced pain by 74.5 points versus 50.2 for placebo over 48 hours in bunionectomy patients, but the difference did not reach statistical significance.

As a result, Vertex will stop developing VX-993 as a standalone therapy and has also decided not to advance a planned study of its approved pain drug Journavx for lower back and leg nerve pain, following discussions with the FDA. The company will instead focus on seeking approvals for Journavx in diabetic nerve pain and other types of nerve pain.

Despite the setback, VX-993 was found generally safe, with mostly mild to moderate side effects and no serious safety signals. Analysts and investors, who had high hopes for Vertex’s diversification beyond cystic fibrosis drugs, called the updates “disappointing” even as Q2 results beat expectations.

Vertex’s pain portfolio faces new uncertainty, clouding its strategy to capture a lucrative non-opioid market and putting further pressure on its share price.