The company said its net CF product revenues rose to $2.6 billion in Q2 2023 from $2.5 billion in Q2 2024. It cited the performance of TRIKAFTA in the U.S. as the main driver.

10-QQuarterly reportFiled Aug 2, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said its net CF product revenues rose to $2.6 billion in Q2 2023 from $2.5 billion in Q2 2024. It cited the performance of TRIKAFTA in the U.S. as the main driver.
Vertex said it completed its acquisition of Alpine Immune Sciences in May 2024 for about $5.0 billion in cash. It said the deal was accounted for as an asset acquisition, which resulted in $4.4 billion of AIPR&D in Q2.
The company said cash, cash equivalents and marketable securities fell to $10.2 billion as of June 30, 2024 from $13.7 billion as of December 31, 2023. It cited cash paid for the Alpine acquisition as the main factor.
The company said the FDA granted Priority Review to the vanzacaftor triple NDA with a PDUFA target action date of January 2, 2025, and the PDUFA target action date for the suzetrigine NDA is January 30, 2025.

Key figures

Quarter ended June 30, 2024

Revenue: $2.6B
Operating income: −$3.5B
Net income: −$3.6B
EPS: −$13.92

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net CF Product Revenues in Q2 $2.6 billion

The company said its net CF product revenues rose to $2.6 billion in Q2 2023 from $2.5 billion in Q2 2024. It cited the performance of TRIKAFTA in the U.S. as the main driver.

Source · Based on the MD&A text of the filing

Alpine Acquisition and AIPR&D $4.4 billion

Vertex said it completed its acquisition of Alpine Immune Sciences in May 2024 for about $5.0 billion in cash. It said the deal was accounted for as an asset acquisition, which resulted in $4.4 billion of AIPR&D in Q2.

Source · Based on the MD&A text of the filing

Cash and Marketable Securities $10.2 billion

The company said cash, cash equivalents and marketable securities fell to $10.2 billion as of June 30, 2024 from $13.7 billion as of December 31, 2023. It cited cash paid for the Alpine acquisition as the main factor.

Source · Based on the MD&A text of the filing

PDUFA Dates for Vanzacaftor Triple and Suzetrigine

The company said the FDA granted Priority Review to the vanzacaftor triple NDA with a PDUFA target action date of January 2, 2025, and the PDUFA target action date for the suzetrigine NDA is January 30, 2025.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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