Why Vertex Pharmaceuticals Skyrocketed 17.8% in July

After reporting results from mid-stage trials showing its multi-drug combination therapies improved lung function in cystic fibrosis patients, Vertex Pharmaceuticals (NASDAQ: VRTX) shares surged 17.8% higher in July, according to S&P Global Market Intelligence.

Vertex Pharmaceuticals already markets two highly successful cystic fibrosis drugs. However, those drugs only address about 30,000 of the roughly 75,000 people worldwide with cystic fibrosis. The company's focusing much of its R&D efforts on exploring additional approaches that could allow its drugs to treat the majority of patients, and mid-stage trial results reported last month suggest it's on the right track.

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Source: Fool.com