Vertex Pharmaceuticals; Earnings Mixed (VRTX)

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) reports Q2 earnings loss of $1.00 versus estimates of $0.84 loss.

Vertex Pharmaceuticals Incorporated (VRTX) reports Q2 revenues of $31.6 million versus estimates of $27.93 million.

The company also said that the Phase 3 registration program for VX-770 was fully enrolled, with data expected in the first half of 2011. The company ended the quarter with a cash position totaling $980 million.

"We remain on track to complete the New Drug Application submission process for telaprevir later this year and to complete the buildout of our commercial function in advance of the potential launch of telaprevir," said Matthew Emmens, Chairman, President and Chief Executive Officer of Vertex Pharmaceuticals.

He added, "In the first half of this year, we established a seasoned commercial leadership team with broad experience in the area of infectious diseases, and we continue to bolster the internal infrastructure needed to support a field-based sales force for telaprevir and other potential future medicines.”

Shares of VRTX are flat in the after-hours trade.