Vertex Pharma Loss Widens

(RTTNews) - Vertex Pharmaceuticals Inc (VRTX) on Wednesday reported second-quarter net loss of $188.8 million or $0.78 per share compared with a loss of $159.4 million or $0.68 per share last year.

Excluding items, adjusted loss for the quarter was $0.54 per share compared with a loss of $0.61 per share a year ago.

Revenues for the quarter were $166.1 million compared with $138.4 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.58 per share on revenues of $149.7 million for the quarter. Analysts' estimates typically exclude special items.

The company said that net product revenues of its cystic fibrosis drug, Kalydeco, totaled $154.9 million for the quarter compared with $113.1 million a year ago.

Expenses increased to $337 million from $319 million last year.

For the full year 2015, the company now expects Kalydeco net product revenues of $575 million to $590 million, up from prior guidance of $560 million to $580 million.