Jefferies analyst Brian Abrahams says the data from two Phase III studies of VX-661/Kalydeco look "like a win on all fronts." The results "not only improve the benefit/risk equation and potential patient retention in Orkambi's existing F508del homozygous market, but also importantly clears the way for multiple shots on goal with their triple combos," Abrahams tells investors in a research note. He recommends buying the stock into today's rally.

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.