Vertex Q2 product revenue $2.65B (+6% YoY); raises FY 2024 guidance to $10.65-10.85B

VERTEX PHARMACEUTICALS INC / MA

2024-Q2 EPS reported -$9.66 revenue$5,336,200,000

GAAP net loss of $3.6B in Q2 due to $4.4B AIPR&D charge from Alpine acquisition.
Non-GAAP net loss of $3.3B; combined R&D and SG&A expenses increased to $1.3B.
FDA accepted NDAs for vanzacaftor triple (PDUFA Jan 2, 2025) and suzetrigine (PDUFA Jan 30, 2025).
CASGEVY launches ongoing; >35 ATCs activated; early access program in France for SCD.
Year-end cash $10.2B vs $13.7B end of 2023; cash used for Alpine acquisition.

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