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Reuters
a minute ago
- Reuters
Vertex's trial failure, scrapped study cloud pain drug push; shares slump
Aug 4 (Reuters) - Vertex Pharmaceuticals will stop developing its experimental non-opioid painkiller as a solo treatment after a mid-stage trial failure and will not start a study for expanded use of its approved pain drug, sending its shares down 14.4% after the bell. The company (VRTX.O), opens new tab has been diversifying into gene therapies and non-opioid painkillers as it looks to reduce its reliance on cystic fibrosis drugs, a market it dominates. Unlike opioids, which trigger the brain's reward centers, making them an addiction risk, Vertex's drugs block pain signals at the origin, providing a lucrative opportunity for the company. The next-generation non-opioid painkiller, called VX-993, reduced pain by 74.5 points over 48 hours, compared with 50.2 points in the placebo group, but the difference was not statistically significant, Vertex said. The company tested acute pain reduction in patients who had bunionectomy, a surgery to correct deformed bones of the big toe and foot. The drug was found to be generally safe, with most side effects being mild to moderate and no serious problems linked to the painkiller, the company said. Wall Street analysts and investors have been keenly watching the results of the trial, as Vertex seeks to expand beyond Journavx, its non-opioid approved by the U.S. Food and Drug Administration in January for acute pain. Separately, Vertex also said it would not start a study for Journavx to treat a type of nerve pain in the lower back and legs following discussion with the FDA. Leerink Partners analyst David Risinger said Vertex's pain portfolio updates were "disappointing," despite reporting second-quarter results that were above expectations. Vertex plans to prioritize testing of, and later seeking approval for, Journavx to treat a type of nerve pain in diabetic patients. It will also seek to secure approval for other types of nerve pain, the company said in its earnings press release.
Daily Mail
a minute ago
- Daily Mail
CNN expert pays Trump the ultimate compliment while discussing tariffs
CNN 's data expert Harry Enten called Donald Trump the most influential president of the 21st century. Enten - who often breaks down polling issues for the left-leaning network - said that Trump is 'remaking' America in a way George W. Bush, Barack Obama and Joe Biden didn't. He credits that to Trump's hardline policy to fix the southern border and even his controversial tariff policies. 'I can't think of a more influential president during this century, and it starts here with tariffs. He said he was going to raise tariffs, and despite the claims otherwise, he is in fact doing that,' Enten said. He noted that tariffs are now 'nine times as high as it was last year. The highest since the 90s.' Enten then pivoted to how Trump has influenced America via his immigration policies. 'The other big thing that Trump ran on was immigration. How about net migration in the United States? Get this, it's down. It's going to be down at least 60%. We may be dealing with, get this, negative net migration to the United States in 2025,' he said. He added that this would be the first time America had negative net migration in a half a century. 'So Donald Trump has always run on tariffs, and he's running a hawkish line on immigration,' he said. 'And on both of those issues we are seeing record high tariff rates for this century going all the way back, well back into the early part of the 20th century. And when it comes to immigration, net migration We are seeing record low levels way down from where we were during the Biden administration.' Trump's influence and popularity lines up with a recent exclusive Daily Mail/J.L. Partners poll, even as they give him failing grades for his handling of the Jeffrey Epstein files. Forty-nine percent of voters now approve of Trump's job performance as president, up one point from the tracking survey conducted earlier in July. But he remains underwater as 51 percent disapprove of Trump's job performance, down one point from earlier in the month. The margin of error in the survey of 1,007 registered voters is 3.1 percent. The poll numbers suggest Trump is surviving politically during a punishing news cycle consumed by the Epstein files and his administration's failure to disclose them as he promised during his presidential campaign. The president's job approval is up one percentage point from June and remains his highest rating since May. 'The news saga might have seemed terrible for Trump in the last few days, but it isn't having an impact on his approval rating,' James Johnson, JL Partners co-founder told the Daily Mail. 'In fact, we think it's going up, from 48 percent to 49 percent, making this his best approval rating since May. His ratings with the base is holding up too, unchanged on 91 percent with Republicans,' Johnson continued. But Trump's strong job approval ratings does not carry over to his handling of the Epstein files. Forty-two percent of voters disapprove of his handling of the issue while just 27 percent approve. A significant number of voters, 20 percent, did not appear to care about the case as they neither approved nor disapproved Trump's handling of the issue. In the Oval Office on Wednesday, Trump referred to the ongoing saga as a 'witch hunt' indicating he was tired of answering questions from the media about it. Despite the president's best efforts to put the issue behind him, few voters believe in the administration's assessment of the case. Only fifteen percent in the poll said they believed the Justice Department's memo released by Attorney General Pam Bondi concluding that Epstein committed suicide in prison and that the infamous pedofile did not have a 'client list' they could release. Forty-seven percent said they did not believe the administration's account of the Epstein case, and that they believed there was more secrets to uncover. Twenty-three percent said they believed the Trump administration memo, but that there was more to uncover in the case. Ninety percent of the Republican voter base continue to grant the president solid approval ratings, despite their misgivings about the Epstein files. The poll was conducted as Trump furiously contested a Wall Street Journal report that he had signed a letter to Epstein for his 50th birthday which concluded: 'Happy Birthday - and may every day be another wonderful secret,' and featured a hand-drawn image of a naked woman as well as his signature. Trump decried the news article as 'fake' and filed a $10 billion lawsuit against the company. 'They are judging Trump on other issues - such as the economy, the southern border, and how he is actually running the country. Their grumbles on the Epstein handling are not enough for them to turn on their man,' Johnson said. While the majority of Republicans, 52 percent, give Trump a passing grade on his handling of the Epstein files, just 13 percent of Independent voters feel the same way.
Reuters
a minute ago
- Reuters
Boeing expected to fly 777-9 for first time in nearly five years, Air Current editor says
Aug 4 (Reuters) - Boeing (BA.N), opens new tab is expected to conduct the first flight of its 777-9 jet in about five years as early as August 5, Air Current editor Jon Ostrower said on Monday in a post on X, citing two people familiar with the matter. Reuters could not independently verify the report.
