Piper Jaffray analyst Edward Tenthoff says Vertex Pharmaceuticals remains his top large-cap pick into the company's Q3 results on October 28. After speaking to physicians, Tenthoff has increased confidence in a strong Orkambi launch. Vertex remains the leader in cystic fibrosis, Tenthoff tells investors in a research note. He reiterates an Overweight rating on the stock with a $163 price target.

Vertex Pharmaceuticals and TreeFrog Therapeutics announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-Stem, to optimize production of Vertex's cell therapies for type 1 diabetes, or T1D. TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies. TreeFrog's proprietary technology platform, C-Stem, is designed to mimic the natural microenvironment, allowing cells to grow exponentially in 3D. The technology will enhance Vertex's ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.