Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $230 price target on Vertex Pharmaceuticals, after the FDA accepted the New Drug Application, or NDA, for Vertex's TripleRx VX-445 + SYMDEKO, setting a March 19 PDUFA date. Tenthoff said he is "confident in approval" based on "unprecedented efficacy in Phase III trials."

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.