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Vertex Reports 2Q15 Revenues of $166.1 Million

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Aug. 11 2015, Published 3:29 p.m. ET

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.

Vertex competitors Bristol-Myers Squibb (BMY), GlaxoSmithKline (GSK), and AstraZeneca (AZN) released their 2Q15 earnings on July 29, July 30, and July 31, respectively.

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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.

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