Vertex reports 2Q15 results
Vertex Pharmaceuticals (VRTX) posted its 2Q15 earnings on July 29, 2015. As per the company’s press release, it posted revenues of $166.1 million for 2Q15 on a GAAP (generally accepted accounting principles) basis. In 2Q14, the revenues were $138.4 million. On a sequential basis, the revenue stood at $138.5 million. Vertex’s 2Q15 net loss stood at $188.8 million, or -$0.78 per diluted share, when compared with the 2Q14 net loss of $159.4 million or -$0.68 per diluted share.
Highlights of 2Q15
Some of the 2Q15 earnings highlights include:
- revenue of $166.1 million
- revenue from Kalydeco at $154.9 million
- total operating costs and expenses for 2Q15 of $337.2 million compared with $319 million for 2Q14
- 2Q15 net loss of $0.78 per share compared to $0.68 per share for 2Q14
- U.S. Food and Drug Administration approval of Orkambi for the treatment of cystic fibrosis on July 2
Investors who do not want to invest directly in Vertex can consider investing through ETFs such as the iShares Nasdaq Biotechnology ETF (IBB), which has a 3.88% exposure to Vertex. The fund includes diversified companies in different segments of biotech and healthcare listed on Nasdaq.