Interesting perspective:
<b>Vertex falls after analyst expresses doubt about cystic fibrosis drug </b>
Vertex (VRTX) is retreating after Cowen's analyst Dr. Phil Nadeau said he's not convinced that the company's VX-809+Kalydeco treatment for certain cystic fibrosis patients will be successful. The analyst believes that the improved interim lung function data from the Phase II trial of the treatment may not be duplicated in longer Phase III trials. Dr. Nadeau, - who believes that most investors now expect the treatment to be successfully developed - identifies two main reasons for his skepticism. First, each patient's interim lung function, or FEVI, can change without indicating a true change in lung function, he said. Dr. Nadeau is concerned that the study didn't adequately account for this factor. Secondly, the study didn't record a significant sweat chloride change in the patients, even though the treatment is supposed to work by improving CFTR function, which is correlated with sweat chloride, Dr. Nadeu contends. In mid-morning trading, Vertex declined 95c, or 1.49%, to $62.99. :theflyonthewall.com"
http://www.theflyonthewall.com/permalinks/entry.php/VRTXid1641918/VRTX-Vertex-falls-after-analyst-expresses-doubt-about-cystic-fibrosis-drug