VRTX (Vertex Pharmaceuticals Incorporated) stock: $509.46, $129.13B market cap, $7.85B cash, $121.28B EV, $129.13B fully diluted market cap. Next expected readout: Sep-26. Lead program: Biological/Vaccine (Type 1 Diabetes), Phase 3. Data from Fully Diluted's biotech stocks database.
Enterprise value
$121,275.8M
Balance sheet
| Cash | $7,852.4M |
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| Debt | $0.0M |
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| Net cash | $7,852.4M |
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| Enterprise value | $121,275.8M |
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| Basic shares | 253.3M shares |
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| Fully diluted shares | 253.5M shares |
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| Fully diluted market cap | $129,128.2M |
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| Cash per share | $31.00 |
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Cash figures as of 2026-06-30. Database snapshot: 2026-09-22.
Price history
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Upcoming catalysts
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|
| Dec 8, 2026 - Jan 19, 2027 | VX-581 | Phase 1 | Cystic Fibrosis | — |
| Dec 31, 2026 - Feb 11, 2027 | VX-581 | Phase 1 | Cystic Fibrosis | — |
| Mar 8 - Apr 19 | Suzetrigine | Phase 3 | Diabetic Peripheral Neuropathic Pain | — |
| Mar 16 - Apr 27 | VX-670 | Phase 2 | Myotonic Dystrophy Type 1 (DM1) | — |
| Apr 16 - May 28 | VX-433 | Phase 1 | Narcolepsy Type 1 (NT1) | — |
| Apr 22 - Jun 3 | VX-407 | Phase 1 | Autosomal Dominant Polycystic Kidney Disease (ADPKD) | — |
| Apr 23 - Jun 4 | VX-264 | Phase 2 | Type 1 Diabetes | — |
| May 4 - Jun 15 | VX-272 | Phase 1 | Cystic Fibrosis | — |
| May 6 - Jun 17 | VX-993 | Phase 2 | Diabetic Peripheral Neuropathic Pain | — |
| May 18 - Jun 29 | IVA | Phase 3 | Cystic Fibrosis | — |
| May 18 - Jun 29 | Suzetrigine | Phase 3 | Diabetic Peripheral Neuropathic Pain | — |
| Jul 12 - Aug 23 | Suzetrigine | Phase 3 | Diabetic Peripheral Neuropathic Pain | — |
| Jul 18 - Aug 29 | CTX001 | Phase 3 | Sickle Cell Disease; Hydroxyurea Failure; Hydroxyurea Intolerance | — |
| Jul 21 - Sep 1 | CTX001 | Phase 3 | Beta-Thalassemia; Thalassemia; Hematologic Diseases | — |
| Sep 2 - Oct 14 | VX-407 | Phase 2 | Autosomal Dominant Polycystic Kidney Disease (ADPKD) | — |
| Nov 11 - Dec 23 | IVA | Phase 3 | Cystic Fibrosis | — |
| Dec 26, 2027 - Feb 6, 2028 | CTX001 | Phase 3 | Beta-Thalassemia; Thalassemia; Genetic Diseases, Inborn | — |
| Feb 11 - Mar 24 | VX-880 | Phase 3 | Diabetes Mellitus, Type 1; Impaired Hypoglycemic Awareness; Severe Hypoglycemia | — |
| Jul 14 - Aug 25 | VX-147 | Phase 3 | Proteinuric Kidney Disease | — |
| Feb 9 - Mar 23 | Povetacicept | Phase 3 | Primary Membranous Nephropathy | — |
| Mar 13 - Apr 24 | VX-670 | Phase 2 | Myotonic Dystrophy Type 1 (DM1) | — |
| Apr 13 - May 25 | Povetacicept | Phase 2 | Myasthenia Gravis, Generalized | — |
| Feb 8 - Mar 22 | Povetacicept | Phase 3 | Immunoglobulin A Nephropathy | — |
| Nov 11 - Dec 23 | CTX001 | Phase 3 | Beta-Thalassemia; Thalassemia; Sickle Cell Disease | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Full readout calendar →
Pipeline assets
CFTR modulator portfolio
Approved · Active Modality: small molecule CFTR modulators
Target CFTR
Indications- cystic fibrosis (Approved)
Status note Approved CF franchise (incl. ALYFTREK and TRIKAFTA/KAFTRIO); Phase 3 TRIKAFTA/KAFTRIO in children 1-2 years completed. Developing next-generation modulators, mRNA and gene-editing approaches for CF.
Suzetrigine
Approved · Active Modality: small molecule (selective non-opioid NaV1.8 pain signal inhibitor)
Aliases suzetrigine, JOURNAVX
Target NaV1.8
Indications- moderate-to-severe acute pain (Approved)
- diabetic peripheral neuropathy (peripheral neuropathic pain) (Phase 3)
Status note First-generation NaV1.8 inhibitor. Commercialized as JOURNAVX ($49.6M product revenue Q2 2026; ~260M individuals with reimbursed access). Phase 3 acute pain completed August 2025; two Phase 3 trials in DPN enrolling (FDA Breakthrough Therapy Designation). Health Canada NDS accepted Q2 2026 for acute pain.
VX-522
Phase 1 · Active Modality: mRNA therapeutic (nebulized)
Target CFTR
Partnerships Moderna: collaboration on mRNA therapeutic for CF
Indications- cystic fibrosis lung disease (Phase 1)
Status note Nebulized mRNA designed to enable lung cells to produce functional CFTR protein, for people not benefiting from modulators; Phase 1/2 multiple-ascending-dose portion ongoing.
CASGEVY
Approved · Active Modality: gene-editing (CRISPR/Cas9) cell therapy
Target BCL11A
Partnerships CRISPR Therapeutics: development/commercialization collaboration
Indications- sickle cell disease (Approved)
- transfusion-dependent beta thalassemia (Approved)
Status note Approved in US and other markets for SCD and TDT; Commissioner’s National Priority Voucher received in US for younger age group; global submissions for that age group expected H1 2026.
Inaxaplin
Phase 2/3 · Active Modality: small molecule
Target APOL1
Indications- APOL1-mediated kidney disease (AMKD) (Phase 3)
Catalysts- — late 2026 or early 2027
Status note Small-molecule APOL1 inhibitor; single adaptive Phase 2/3 (AMPLITUDE) in people with AMKD; full enrollment expected H2 2026; interim analysis for potential US accelerated approval after interim cohort reaches 48 weeks.
Povetacicept
Phase 3 · Active Modality: protein therapeutic (dual inhibitor)
Target BAFF and APRIL
Partnerships Alpine Immune Sciences (acquired): origin of program
Indications- IgA nephropathy (IgAN) (Phase 3)
- primary membranous nephropathy (pMN, OLYMPUS trial) (Phase 3)
- generalized myasthenia gravis (gMG) (Stage not disclosed)
Status note Dual BAFF/APRIL pathway inhibitor. Accelerated approval submission for IgAN in US expected H1 2026 (Saudi Arabia submission completed; Saudi Breakthrough Designation granted). OLYMPUS Phase 2/3 in pMN: Phase 3 portion underway. Also in development for gMG.
Zimislecel
Phase 2 · Active Modality: cell therapy (stem cell-derived islet cells, allogeneic)
Indications- type 1 diabetes (Phase 2)
Status note Allogeneic, stem cell-derived, fully differentiated insulin-producing islet cell replacement therapy (with standard immunosuppression); Phase 1/2/3 trial enrolling and dosing. VX-017 (next-gen islet cell therapy, IND cleared, Phase 1/2 planned) is a distinct earlier candidate but undescribed in detail in these excerpts.
VX-670
Phase 1 · Active Modality: oligonucleotide (cyclic peptide conjugate)
Partnerships Entrada: collaboration for intracellular DM1 therapeutic
Indications- myotonic dystrophy type 1 (DM1) (Phase 1)
Status note Oligonucleotide connected to a cyclic peptide for cell delivery; GALILEO Phase 1/2 enrolling and dosing. Additional small-molecule DM1 program in preclinical development.
VX-264
Phase 1 · Terminated
Indications- type 1 diabetes (VX-264 program) (Phase 1)
Status note March 2025: based on Phase 1/2 results, Vertex concluded VX-264 will not advance further in clinical development; intangible asset impairment recorded. VX-993 also not advanced as monotherapy in acute pain (suzetrigine chosen instead) — no distinct active row.
Per-asset detail extracted from the 10-Q filed 2026-08-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.