As of March 31, 2020, Vertex had $40.4 million in cash and $504.6 million in total liabilities. Vertex is consistently recognized as one of the industry's top places to work, including 11 consecutive years on Science magazine's Top Employers list and a best place to work for LGBTQ equality by the Human Rights Campaign. The company expects a portion of its tax provision to represent a non-cash expense until its net operating losses have been fully utilized. BOSTON –(BUSINESS WIRE)–Oct. -Product revenues of $1.54 billion, a 62% increase compared to Q3 2019-, -Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion-. In particular, non-GAAP financial results and guidance exclude from Vertex's pre-tax income (i) stock-based compensation expense, (ii) revenues and expenses related to collaboration agreements, (iii) gains or losses related to the fair value of the company's strategic investments, (iv) increases or decreases in the fair value of contingent consideration, (v) acquisition-related costs and (vi) other adjustments. Founded in 1989 in Cambridge, Mass., Vertex's global headquarters is now located in Boston'sInnovation District and its international headquarters is in London, UK. The Recovery segment includes Vertex's operations as exclusive distributor of Penthol's Group III base oils. The company also adjusted its expectation for combined GAAP R&D and SG&A expenses and non-GAAP effective tax rate. Vertex Reports Full-Year and Fourth-Quarter 2020 Financial Results-Full-year 2020 GAAP product revenues of $6.20 billion--Full-year 2020 non-GAAP product revenues of $6.20 billion, a … Cash, cash equivalents and marketable securities as of March 31, 2020 were $4.2 billion, an increase of approximately $400 million compared to $3.8 billion as of December 31, 2019. Vertex Reports First-Quarter 2020 Financial Results -Product revenues of $1.52 billion, a 77% increase compared to Q1 2019- -Company raises revenue guidance; now … The conference call will be webcast live and a link to the webcast can be accessed through Vertex's website at www.vrtx.com in the "Investors" section under "Events and Presentations." While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company's beliefs only as of the date of this press release and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. 4: "Acquisition-related costs" in the three months ended March 31, 2020 related to costs associated with the company's acquisitions of Semma and Exonics. To access the call, please dial (866) 501-1537 (U.S.) or +1 (720) 545-0001 (International). Expanding Capabilities in Genetic Therapies: In April. To ensure a timely connection, it is recommended that users register at least 15 minutes prior to the scheduled webcast. Cash, cash equivalents and marketable securities as of September 30, 2020 were $6.2 billion, an increase of approximately $2.3 billion compared to $3.8 billion as of December 31, 2019 driven by strong revenue and profitability. The company's non-GAAP financial results also exclude from its provision for income taxes the estimated tax impact related to its non-GAAP adjustments to pre-tax income described above and certain discrete items. -Product revenues of $1.54 billion, a 62% increase compared to Q3 2019--Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion-. In AATD, while disappointed by the VX-814 outcome, we look forward to the VX-864 Phase 2 proof-of-concept data in the first half of 2021. To ensure patient safety and reduce the burden on the healthcare system at a time of critical need, Vertex has temporarily paused or delayed enrollment in certain studies. The global COVID-19 outbreak has not had any impact on the continuity of Vertex’s supply chain for its approved medicines. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) — a rare, life-threatening genetic disease — and has several ongoing clinical and research programs in CF. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, Dr. Kewalramani's statements in this press release, the information provided regarding future financial performance, the section captioned "Full-Year 2020 Financial Guidance" and statements regarding (i) regulatory filings and data submissions, (ii) anticipated future label expansions, (iii) the expectations, development plans and anticipated timelines for the company's medicines, drug candidates and pipeline programs, including collaborations with third parties, and (iv) expectations for the collaborations with Moderna. Zach Barber, 617-341-6470 Software subscription revenues from … Combined GAAP and Non-GAAP R&D and SG&A expenses increased compared to the first quarter of 2019, primarily due to the incremental investment to support the global use of Vertex's medicines and the expansion of Vertex's pipeline in CF and other new disease areas. or These results are provided as a complement to results provided in accordance with GAAP because management believes these non-GAAP financial measures help indicate underlying trends in the company's business, are important in comparing current results with prior period results and provide additional information regarding the company's financial position. The company adjusts, where appropriate, for both revenues and expenses in order to reflect the company's operations. While Vertex believes the forward-looking statements contained in this press release are accurate, these forward-looking statements represent the company's beliefs only as of the date of this press release and there are a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia and Latin America. This strong interest reflects TRIKAFTA's substantial benefits for patients and has resulted in significant increases in revenue to support continued investment in both our internal pipeline and business development efforts to support future growth. Michael Partridge, 617-341-6108 Combined GAAP R&D and SG&A expenses decreased compared to the third quarter of 2019 due to a decrease in collaboration payments. Zach Barber, 617-341-6470 Vertex Pharmaceuticals Long-Term Chart (2000 – 2020) TradingView.com A parabolic rally topped out at $99.25 in 2000, posting a high that wasn't challenged for the next 14 years, ahead of a … The EMA granted Priority Medicines (PRIME) designation to CTX001 for the treatment of severe SCD. Special Note Regarding Forward-Looking Statements. Considerations for Indirect Tax Managers. The 13-week open-label Phase 2 study is designed to evaluate the reduction in proteinuria in people with FSGS after treatment with VX-147. After the latest results, the 19 analysts covering Vertex Pharmaceuticals are now predicting revenues of US$5.32b in 2020. The provision includes a significant non-cash charge due to the company's ability to offset its pre-tax income against previously benefited net operating losses. : NHVCF) (the “Company” or “Northern Vertex”) is pleased to announce revenue of $23.4 million and production of 12,401 gold equivalent ounces for the quarter ended December 31, 2020 from the Company’s 100% owned Moss Gold Mine in NW Arizona.. Gold equivalent production is calculated at realized gold and silver prices … Vertex expects over $6B revenue for 2020 at ~47% YoY growth. BOSTON--(BUSINESS WIRE)-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 financial guidance for product revenues. The conference call will be webcast live and a link to the webcast can be accessed through Vertex's website at www.vrtx.com in the "Investors" section under "Events and Presentations." The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) — a rare, life-threatening genetic disease — and has several ongoing clinical and research programs in CF. or Vertex continues to progress its expanding pipeline of programs in the clinic, which span various diseases, modalities and stages of development. or Total … Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 financial guidance for product revenues. Sales, general and administrative expenses, Change in fair value of contingent consideration, Reconciliation of GAAP to Non-GAAP Net Income, Decrease (increase) in fair value of strategic investments (1), Increase in fair value of contingent consideration (2), Total non-GAAP adjustments to pre-tax income. The U.S. launch of TRIKAFTA has been remarkable, with the majority of eligible patients having now initiated treatment with this medicine. The company expects to utilize its remaining federal net operating losses in 2020. Minimum 15 minutes delayed. TRIKAFTA/KAFTRIO (elexacaftor, tezacaftor and ivacaftor), SYMDEKO/SYMKEVI (tezacaftor and ivacaftor). GAAP and Non-GAAP income taxes increased compared to the third quarter of 2019 primarily due to Vertex's increased operating income. The company will host a conference call and webcast today at 5:00 p.m. These results should not be viewed as a substitute for the company’s GAAP results and are provided as a complement to results provided in accordance with GAAP. mRNA Therapies for CF: Based on promising preclinical data generated to date. 4: "Collaborative revenues and expenses" in the three and nine months ended September 30, 2020 and 2019 primarily related to collaborative upfront and milestone payments. Vertex (Nasdaq: VRTX) increased its 2020 guidance Wednesday to between $5.3 billion and $5.6 billion, up from its original estimate of $5.1 billion to $5.3 billion. Sherwood Park, Alberta, August 10, 2020 (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and operational results for the three and six months ending June 30, 2020. 29, 2020– Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 financial guidance for product revenues. 6: In the three and nine months ended September 30, 2020 and 2019, "Tax adjustments" primarily related to the estimated income taxes related to non-GAAP adjustments to pre-tax income including (i) stock-based compensation (including an adjustment for excess tax benefits related to stock-based compensation), (ii) increases or decreases in the fair value of the company's strategic investments and (iii) collaborative payments. Our pipeline spans multiple diseases, and multiple important clinical readouts are expected from now through the end of 2021, each of which we expect will hold transformative potential for patients and further growth for Vertex.". Vertex continues to progress a broad pipeline of potentially transformative small molecule, cell and genetic therapies aimed at serious diseases. The company’s calculation of non-GAAP financial measures likely differs from the calculations used by other companies. Looking ahead, we continue to be differentiated by our focus on serial innovation, investment in transformative medicines aimed at the underlying cause of disease, the breadth of our pipeline and capabilities and our financial strength.". For company updates and to learn more about Vertex's history of innovation, visit www.vrtx.com or follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram. BOSTON –(BUSINESS WIRE)–Feb. 5: In the three months ended March 31, 2020 and 2019, "Tax adjustments" primarily related to the estimated income taxes related to non-GAAP adjustments to pre-tax income including (i) stock-based compensation (including an adjustment for excess tax benefits related to stock-based compensation), (ii) increases or decreases in the fair value of the company's strategic investments and (iii) collaborative payments. Vertex Pharmaceuticals revenue for the quarter ending December 31, 2020 was $1.628B, … As I’ve discussed, we have already seen a significant number of changes in cities and counties increasing sales tax rates in 2020 and we expect the pace of tax rate changes for state and local taxes to continue or increase throughout the rest of 2020 and into 2021.. To access the call, please dial (866) 501-1537 (U.S.) or +1 (720) 545-0001 (International). Product revenues increased 62% compared to the third quarter of 2019, primarily driven by the uptake of TRIKAFTA in the U.S. and the uptake of our medicines outside the U.S. following the completion of several significant reimbursement agreements. BOSTON--(BUSINESS WIRE)--Apr. The guidance regarding GAAP research and development expenses and sales, general and administrative expenses does not include estimates associated with any potential future business development activities. 6: The company records a provision for income taxes on its pre-tax income using an effective tax rate approximating statutory rates. ET. Important progress has been made in supporting the extension of the eligible patient population and expansion to additional geographies and age groups. Data from this study is expected in the first half of 2021. The FDA accepted three sNDAs for TRIKAFTA, SYMDEKO and KALYDECO. Software subscription revenue of $79.8 million, up 12.3% year-over-year. -Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion –. Vertex (VRTX) delivered earnings and revenue surprises of 10.46% and 3.38%, respectively, for the quarter ended September 2020. In the second quarter, volume increased and … "We are pleased with our progress toward treating all people with cystic fibrosis highlighted by several recent milestones: the early approval and encouraging start of the launch of KAFTRIO in the EU, positive TRIKAFTA data in children ages 6-11, and continued expansion of our medicines' labels as with our recent approval of KALYDECO for infants as young as 4 months of age. --Vertex, Inc., a leading provider of tax technology and services, today announced financial results for its second quarter ended June 30, 2020.. Total revenue of … 7: The company records a provision for income taxes on its pre-tax income using an effective tax rate approximating statutory rates. – November 27, 2020: Northern Vertex Mining Corp. (TSX: NEE) ("Northern Vertex" or the "Company") is pleased to announce record production of 14,673 gold equivalent ounces, record revenue of $26.8 million and record adjusted EBITDA of $13.5 million for the quarter ended September 30 ("FY Q1 2021") from the Company's 100% owned Moss Gold Mine in NW Arizona. The company does not provide forward-looking reconciliations of these measures to the most directly comparable GAAP financial measures because it is unable, without unreasonable efforts, to calculate these GAAP measures with reasonable certainty. The FDA approved KALYDECO for use in infants with CF ages four months to less than six months old who have at least one mutation that is responsive to KALYDECO. The company adjusts, where appropriate, for both revenues and expenses in order to reflect the company's operations. Northern Vertex Reports Revenue of US$23.4 Million and Production of 12,401 Gold Equivalent Ounces for Quarter Ending December 31, 2020 Published: Jan. … The guidance regarding combined GAAP R&D and SG&A expenses does not include estimates associated with any potential future business development activities. Northern Vertex Mining Corp. (TSXV: NEE) (OTC Nasdaq Intl. 29, 2020-- Sales, general and administrative expenses, Change in fair value of contingent consideration, Reconciliation of GAAP to Non-GAAP Net Income, (Increase) decrease in fair value of strategic investments (2), Increase in fair value of contingent consideration (3), Total non-GAAP adjustments to pre-tax income. * co raises revenue guidance; now expects 2020 cf revenues of $5.3 to $5.6 billion In addition, Vertex has a rapidly expanding pipeline of genetic and cell therapies for diseases such as sickle cell disease, beta thalassemia, Duchenne muscular dystrophy and type 1 diabetes mellitus. Enrollment is ongoing in a Phase 2 proof-of-concept study for the Z-AAT corrector, VX-864. 2: During the three months ended March 31, 2020, the increase in the fair value of the contingent consideration relates to potential payments to Exonics' former equity holders. 1: "Other income, net" includes gains and losses related to changes in the fair value of the company's strategic investments. Founded in 1989 in Cambridge, Mass., Vertex's global headquarters is now located in Boston's Innovation District and its international headquarters is in London. These regulatory submissions are intended to expand the labels of these drugs to include additional people with CF who have rare CFTR mutations. 5: "Acquisition-related costs" in the three and nine months ended September 30, 2020 and 2019 related to costs associated with the company's acquisitions of Semma and Exonics. Vancouver, B.C. Refer to "Supplemental Income Tax Information" for discussion of the cash versus non-cash components of Vertex's provision for income taxes. Do the … ET. Since the company released its valuation allowance on the majority of its net operating losses and other deferred tax assets as of December 31, 2018, its tax provision has included a significant non-cash charge due to the company's ability to offset its pre-tax income against previously benefited net operating losses and credits. Data from this study is expected in 2021. As of December 31, 2019, the company's federal net operating losses and credits that were available to offset future pre-tax income were approximately $3.5 billion. Software subscription revenue of $77.3 million, up 14.9% year-over-year. Annual Recurring Revenue (“ARR”) of $306.5 million, up 15.4% year-over-year. HIGHLIGHTS FOR THE THREE MONTHS ENDING SEPTEMBER 30, 2020 The Company generated $32.1 million in revenues compared to $43.7 million in Q3 2019, while reported gross margin increased to 29.8% from 23.3%. Management believes these non-GAAP financial measures help indicate underlying trends in the company's business, are important in comparing current results with prior period results and provide additional information regarding the company's financial position that the company believes is helpful to an understanding of its ongoing business. Vertex Revenue Solutions offers more than just contract Revenue Management coverage. Refer to the "Supplemental Income Tax Information" section for discussion of the cash versus non-cash components of Vertex's provision for income taxes. In particular, non-GAAP financial results and guidance exclude from Vertex's pre-tax income (i) stock-based compensation expense, (ii) revenues and expenses related to collaboration agreements, (iii) gains or losses related to the fair value of the company's strategic investments, (iv) acquisition-related costs and (v) other adjustments. A reconciliation of the GAAP financial results to non-GAAP financial results is included in the attached financial information. Our services revenue increased 19% over the same period last year to $15.6 million due to a significant number of year-end implementation and upgrade projects. Additionally, the company has research and development sites and commercial offices in North America, Europe, Australia and Latin America. In addition, Vertex has a rapidly expanding pipeline of genetic and cell therapies for diseases such as sickle cell disease, beta thalassemia, Duchenne muscular dystrophy and type 1 diabetes mellitus. In the three months ended March 31, 2020, "Tax adjustments" also included a non-recurring discrete benefit to the company's provision for income taxes of approximately $50 million that the company excluded from its Non-GAAP measures. -Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 … "This has been another very strong quarter for Vertex with execution across our CF business and continued earnings and revenue growth," said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. 3: "Collaborative revenues and expenses" in the three months ended March 31, 2020 and 2019 primarily related to collaborative milestone payments. Those risks and uncertainties include, among other things, that the company's expectations regarding its 2020 product revenues, expenses and effective tax rates may be incorrect (including because one or more of the company's assumptions underlying its expectations may not be realized), that COVID-19 may have different or more significant impacts on the company's business or operations than the company currently expects, that data from the company's development programs may not support registration or further development of its potential medicines in a timely manner, or at all, due to safety, efficacy or other reasons, and other risks listed under Risk Factors in Vertex's annual report and subsequent quarterly reports filed with the Securities and Exchange Commission and available through the company's website at www.vrtx.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20201029006132/en/, Vertex Contacts: Data Provided by Refinitiv. View source version on businesswire.com: https://www.businesswire.com/news/home/20200429005528/en/, Investors: ", "As we extend our leadership in CF, we are also advancing a broad pipeline of innovative therapies," continued Dr. Kewalramani. The company's adjusted non-GAAP effective tax rate guidance includes a change in the utilization of certain tax assets. 1: The company's increased combined GAAP R&D and SG&A expense guidance reflects the effect of a new collaboration agreement in the third quarter of 2020. The company provides guidance regarding combined R&D and SG&A expenses and effective tax rate on a non-GAAP basis. "The COVID-19 pandemic has presented unprecedented challenges to societies, communities and businesses around the world, and while these global challenges will continue for some time to come, I am very proud of how Vertex has responded to ensure that we continue to deliver on our mission for patients, keep our employees safe and achieve our business goals," said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. The company's non-GAAP financial results also exclude from its provision for income taxes the estimated tax impact related to its non-GAAP adjustments to pre-tax income described above and certain discrete items. GAAP and Non-GAAP income taxes increased compared to the first quarter of 2019 primarily due to Vertex's increased operating income. Enrollment is ongoing in a Phase 2 proof-of-concept study designed to evaluate the reduction in proteinuria in people with APOL1-mediated FSGS after treatment with VX-147. Vertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. Annual Recurring Revenue (“ARR”) of $306.5 million, up 15.4% year-over-year. Free cash flow during the twelve months ended March 31, 2020, was $54.4 million. or Data Provided by Refinitiv. Beyond CF, Vertex has a robust pipeline of investigational small molecule medicines in other serious diseases where it has deep insight into causal human biology, including pain, alpha-1 antitrypsin deficiency and APOL1-mediated kidney diseases. 3: During the three and nine months ended September 30, 2020 and 2019, the increase in the fair value of contingent consideration relates to potential payments to Exonics' former equity holders. 1, 2021– Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the full year and fourth quarter ended December 31, 2020 … Shares used in diluted per share calculations: Reconciliation of GAAP to Non-GAAP Revenues and Expenses, Non-GAAP research and development expenses, GAAP sales, general and administrative expenses, Non-GAAP sales, general and administrative expenses, Cash, cash equivalents and marketable securities, Total liabilities and shareholders' equity. Total product revenues increased 77% compared to the first quarter of 2019, primarily driven by the uptake of TRIKAFTA in the U.S. and the uptake of our medicines outside the U.S. following the completion of key reimbursement agreements in 2019. Special Note Regarding Forward-Looking Statements. -Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion-Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 financial guidance for product revenues. The company provides guidance regarding product revenues in accordance with GAAP and provides guidance regarding combined research and development and sales, general, and administrative expenses on both a GAAP and non-GAAP basis. As of December 31, 2019, the company's federal net operating losses and credits that were available to offset future pre-tax income were approximately $3.5 billion. An archived webcast will be available on the company's website. -Full-year 2020 non-GAAP product revenues of $6.20 billion, a 55% increase compared to full-year 2019--Company provides full-year 2021 product revenue guidance of $6.7 to $6.9 billion –. Vertex today revised upward its guidance for full-year 2020 CF product revenues and reiterated its guidance for GAAP and non-GAAP combined R&D and SG&A expenses and for its non-GAAP effective tax rate, as summarized below: TRIKAFTA (elexacaftor, tezacaftor and ivacaftor). After months of disruption in 2020, it is time to start looking ahead to the new year. Focal Segmental Glomerulosclerosis (FSGS): In this press release, Vertex's financial results and financial guidance are provided in accordance with accounting principles generally accepted in the United States (GAAP) and using certain non-GAAP financial measures. CTX001 has also been granted Regenerative Medicine Advanced Therapy (RMAT), Fast Track, Orphan Drug, and Rare Pediatric Disease designations from the FDA and Orphan Drug Designation from the. Those risks and uncertainties include, among other things, that the company's expectations regarding its 2020 CF net product revenues, expenses and effective tax rates may be incorrect (including because one or more of the company's assumptions underlying its expectations may not be realized), that COVID-19 may have different or more significant impacts on the company's business or operations than the company currently expects, that data from the company's development programs may not support registration or further development of its potential medicines due to safety, efficacy or other reasons, and other risks listed under Risk Factors in Vertex's annual report and subsequent quarterly reports filed with the Securities and Exchange Commission and available through the company's website at www.vrtx.com.