Diamonds and Dogs
Vertex Pharmaceuticals (VRTX) soars 20% thanks to positive data on their cystic fibrosis treatment. The treatment results showed positive phase 3 results. Vertex plans to file for U.S. and European approval for the combination of their drugs in the third quarter of 2017, with decisions likely in the first half of 2018. Cystic fibrosis is a genetic disease that affects more than 30,000 people in the U.S., according to the Cystic Fibrosis Foundation.
Dave & Busters (PLAY) taking the day off. The restaurateur fell 3% after a nice run up in the last six months following lack luster earnings. The company beat earnings estimates by 4 cents, but in line sales and in line guidance did not please shareholders. Revenues did rise 15.4% to $270.2 million. Comparable store sales growth exceeded the competitive casual dining benchmark for 19 straight quarters. Dave and Busters also reached an important milestone during the quarter as full year sales exceeded $1 billion.