BMO Capital analyst Do Kim raised his price target for Vertex to $268 from $248, as estimates increase to reflect broader ex-U.S. reimbursement coverage and greater ex-U.S. uptake across all CF mutations with expected Trikafta approval. The analyst expects shares to be driven by the pace of Trikafta adoption and growth trajectory of the total CF franchise to consensus peak sales of $9.4B.

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.