From 24/7 Wall St. · Rich Duprey · · 1m 10s
Vertex Q3 Earnings Target $500M Non-CF Revenue
Vertex's Nov 2 earnings reveal if new therapies hit $500M non-cystic fibrosis revenue target.
In brief
Vertex's Nov 2 earnings reveal if new therapies hit $500M non-cystic fibrosis revenue target. Vertex must hit $500 million in non-cystic fibrosis revenue by Nov 2 to prove it can scale beyond its core business. Originally reported by 24/7 Wall St..
Vertex Reports Q3 Earnings
Vertex Pharmaceuticals reports third-quarter results on Nov 2 with cystic fibrosis revenue still dominant.
Non-CF Revenue Target
Vertex aims for $500 million in non-cystic fibrosis revenue from two newer therapies by Nov 2.
Q3 Revenue Growth
Second-quarter revenue rose 12.4% to $3.33 billion, exceeding the $3.22 billion consensus.
CASGEVY and JOURNAVX Performance
CASGEVY revenue rose 151% to $76.4 million, and JOURNAVX revenue quadrupled to $49.6 million.
Non-GAAP SG&A Spending
Non-GAAP SG&A rose 45% on pain and renal investments, with operating expenses at the high end of $5.65 billion to $5.75 billion.
Full-Year Revenue Guidance
Vertex raised full-year revenue guidance to $13.10 billion to $13.20 billion after closing the Crinetics acquisition.
Nov 30 FDA Action Date
Vertex faces Nov 30 FDA action for povetacicept in IgA kidney disease, with renal launch weeks away.
What matters most
Vertex must hit $500 million in non-cystic fibrosis revenue by Nov 2 to prove it can scale beyond its core business.
