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The Boston Globe

Business

Positive trial results boost Vertex

Shares of Vertex Pharmaceuticals Inc. soared more than 55.5 percent in after-hours trading on the Nasdaq stock market Thursday after the Cambridge biotechnology company released positive clinical data on an experimental cystic fibrosis treatment.

Vertex said a midstage study of its VX-661 drug candidate in combination with its approved cystic fibrosis drug Kalydeco “showed statistically significant improvements in lung function” in adult patients.

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“These new results provide further validation of our strategy” of combining therapies to develop a portfolio of treatments for patients with different forms of cystic fibrosis, Vertex chief executive Jeffrey Leiden said in a conference call with investors.

The life-threatening disease, passed down through families, causes mucus to build up in the lungs and digestive tract.

Vertex stock closed down 2.2 percent at $52.87 in Thursday trading. But when Vertex released its clinical data after the market closed, the share price quickly vaulted more than $29.

Robert Weisman can be reached at weisman@globe.com. Follow him on Twitter @GlobeRobW.
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