<p>即使是成熟的制药公司，在遭遇挫折后也可能会在一夜之间失去大量市场价值。这正是 <strong>Vertex Pharmaceuticals</strong>（VRTX -1.26%）最近发生的事情。该公司在宣布了一些不太理想的监管和临床进展后，其股价下跌超过 10%。</p>
<p>在经历了这一下跌后，Vertex 的股票年初至今下跌了 4%。在股价下跌时，你是否应该考虑投资该公司的股票？让我们来看看。</p>
<h2>Vertex 的疼痛治疗业务面临另一个障碍</h2>
<p>Vertex Pharmaceuticals 正在瞄准疼痛治疗市场，作为其多样化药物阵容的一部分。今年 1 月，该公司获得了 Journavx 的批准，这是一种用于治疗中度至重度急性疼痛的首个口服非阿片类疼痛信号抑制剂。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg5NjYvcGh5c2ljaWFuLWdpdmluZy1tZWRpY2luZS10by1lbGRlcmx5LXBhdGllbnQuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg5NjYvcGh5c2ljaWFuLWdpdmluZy1tZWRpY2luZS10by1lbGRlcmx5LXBhdGllbnQuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>然而，这家制药公司在这个细分市场遇到了一些阻力。Journavx 在针对疼痛性腰骶神经根病的二期研究中表现不如预期。该数据公布后，Vertex 的股价在 12 月暴跌。尽管公司最初表示将继续追求 Journavx 的这一适应症，尽管中期数据不尽如人意，但最近宣布基于监管反馈放弃这些计划。这是 Vertex 股价大幅下跌的一个原因。</p>
<p>此外，还有 VX-993，这是一种针对急性疼痛的研究性疗法，刚刚在二期研究中失败。Vertex 将不再在这一适应症中追求 VX-993 作为单药治疗。这是导致公司股价近期暴跌的第二个原因。</p>
<h2>为什么这只股票仍然具有吸引力</h2>
<p>尽管面临这些临床挫折，Vertex 的股票仍然是长期投资者值得投资的选择。让我们考虑四个原因。</p>
<p>首先，该公司的财务业绩依然强劲。在第二季度，收入同比增长 12%，达到 29.6 亿美元。Vertex 的囊性纤维化（CF）业务持续表现良好，最近推出的下一代 CF 药物 Alyftrek 应该会有所帮助。Vertex 是唯一一家销售针对 CF 根本原因药物的公司，但其目标地区的许多患者仍未从其疗法中受益。因此，该公司在其核心业务中仍有一些发展空间。</p>
<p>其次，Vertex 近年来成功地多样化了其产品阵容。除了 Journavx，该生物技术公司在 2023 年还获得了针对两种罕见血液疾病的基因编辑疗法 Casgevy 的批准。虽然这些产品目前对财务业绩的贡献不大，但最终会有所贡献。Vertex 指出，Journavx 的推出进展顺利。它已为大约 1.5 亿美国人获得了第三方覆盖，这表明对该药物有合理的需求。</p>
<p>第三，Vertex 在疼痛治疗市场仍应能取得一些进展。它正在为 Journavx 在糖尿病周围神经病变的三期研究招募患者，同时 VX-993 也将在这一适应症中进行中期临床试验。</p>
<p>第四，该公司还有几款其他令人兴奋的管线候选药物。其中之一是 zimislecel，这是一种针对 1 型糖尿病（T1D）的研究性疗法，在临床试验中表现出强劲的结果，可能成为 T1D 的批准功能性治愈方法。它有助于恢复患者自身产生胰岛素的能力，而这在这种慢性健康状况下通常是不可能的。Vertex 计划明年提交其监管申请。</p>
<p>晚期管线还包括 inaxaplin，这是一种针对 APOL-1 介导的肾病的潜在治疗方法，该病没有针对根本原因的批准疗法。</p>
<p>即使是像 Vertex Pharmaceuticals 这样的成熟生物技术公司也面临着导致股价下跌的临床挫折。但在这种情况下，考虑到 Vertex 强大的产品阵容和管线以及其持续的财务业绩，这似乎是一个在股价下跌时购买其股票的绝佳机会。</p>

福泰制药

<p>Vertex Pharmaceuticals 的股票因监管和临床进展令人失望而下跌超过 10%，其中包括放弃其针对特定适应症的疼痛治疗药物 Journavx 以及 VX-993 在试验中的失败。尽管面临这些挫折，该公司在第二季度报告了 12% 的收入增长，达到 29.6 亿美元，并继续多样化其产品线。Vertex 强劲的财务状况和有前景的产品管线，包括针对 1 型糖尿病和肾病的疗法，表明它可能是长期投资者的良好投资机会</p>

<p>Even well-established drugmakers can lose significant market value overnight following a setback. That's what recently happened to <strong>Vertex Pharmaceuticals</strong>(VRTX -1.26%). The company's shares fell by more than 10% after it announced not-so-great regulatory and clinical developments.</p>
<div class="lb-trans"><p>即使是成熟的制药公司，在遭遇挫折后也可能会在一夜之间失去大量市场价值。这正是 <strong>Vertex Pharmaceuticals</strong>（VRTX -1.26%）最近发生的事情。该公司在宣布了一些不太理想的监管和临床进展后，其股价下跌超过 10%。</p>
</div><p>Vertex's stock is down 4% year to date following this decline. Should you consider investing in the company's shares while they're down? Let's find out.</p>
<div class="lb-trans"><p>在经历了这一下跌后，Vertex 的股票年初至今下跌了 4%。在股价下跌时，你是否应该考虑投资该公司的股票？让我们来看看。</p>
</div><h2>Vertex's pain franchise faces another obstacle</h2>
<div class="lb-trans"><h2>Vertex 的疼痛治疗业务面临另一个障碍</h2>
</div><p>Vertex Pharmaceuticals is targeting the pain treatment market as part of its efforts to diversify its lineup of medicines. In January, the company earned approval for Journavx, the first oral non-opioid pain signal inhibitor, for the treatment of moderate to severe acute pain.</p>
<div class="lb-trans"><p>Vertex Pharmaceuticals 正在瞄准疼痛治疗市场，作为其多样化药物阵容的一部分。今年 1 月，该公司获得了 Journavx 的批准，这是一种用于治疗中度至重度急性疼痛的首个口服非阿片类疼痛信号抑制剂。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84Mjg5NjYvcGh5c2ljaWFuLWdpdmluZy1tZWRpY2luZS10by1lbGRlcmx5LXBhdGllbnQuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F828966%2Fphysician-giving-medicine-to-elderly-patient.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>However, the drugmaker has encountered some headwinds in this niche. Journavx did not perform as well as expected in a phase 2 study in patients with painful lumbosacral radiculopathy. Vertex's shares plummeted in December following that data readout. And although the company initially stated it would pursue this indication for Journavx despite the unimpressive mid-stage data, it recently announced it was abandoning those plans based on feedback from regulators. That was one reason Vertex's shares fell hard.</p>
<div class="lb-trans"><p>然而，这家制药公司在这个细分市场遇到了一些阻力。Journavx 在针对疼痛性腰骶神经根病的二期研究中表现不如预期。该数据公布后，Vertex 的股价在 12 月暴跌。尽管公司最初表示将继续追求 Journavx 的这一适应症，尽管中期数据不尽如人意，但最近宣布基于监管反馈放弃这些计划。这是 Vertex 股价大幅下跌的一个原因。</p>
</div><p>Then there's VX-993, an investigational therapy for acute pain that just failed phase 2 studies. Vertex will not pursue VX-993 as a monotherapy in this indication. This is the second development responsible for the company's shares recently plummeting.</p>
<div class="lb-trans"><p>此外，还有 VX-993，这是一种针对急性疼痛的研究性疗法，刚刚在二期研究中失败。Vertex 将不再在这一适应症中追求 VX-993 作为单药治疗。这是导致公司股价近期暴跌的第二个原因。</p>
</div><h2>Why the stock is still attractive</h2>
<div class="lb-trans"><h2>为什么这只股票仍然具有吸引力</h2>
</div><p>Despite these clinical setbacks, Vertex's shares remain a worthwhile investment for long-term investors. Let's consider four reasons why.</p>
<div class="lb-trans"><p>尽管面临这些临床挫折，Vertex 的股票仍然是长期投资者值得投资的选择。让我们考虑四个原因。</p>
</div><p>First, the company's financial results remain strong. In the second quarter, revenue increased by 12% year over year to $2.96 billion. Vertex's cystic fibrosis (CF) business continues to perform well, and the recent addition of its next-gen CF medicine Alyftrek should help. Vertex is the only company that markets drugs for the underlying causes of CF, but many patients in the geographies it targets are still not benefiting from its therapies. So the company still has some headway in its core franchise.</p>
<div class="lb-trans"><p>首先，该公司的财务业绩依然强劲。在第二季度，收入同比增长 12%，达到 29.6 亿美元。Vertex 的囊性纤维化（CF）业务持续表现良好，最近推出的下一代 CF 药物 Alyftrek 应该会有所帮助。Vertex 是唯一一家销售针对 CF 根本原因药物的公司，但其目标地区的许多患者仍未从其疗法中受益。因此，该公司在其核心业务中仍有一些发展空间。</p>
</div><p>Second, Vertex has successfully diversified its lineup in recent years. In addition to Journavx, the biotech earned approval for Casgevy, a gene-editing therapy for two rare blood disorders, in 2023. While these products aren't contributing much to financial results yet, they eventually will. Vertex noted that Journavx's launch is going well. It has secured third-party coverage for approximately 150 million Americans, which suggests there's a reasonable demand for the medicine.</p>
<div class="lb-trans"><p>其次，Vertex 近年来成功地多样化了其产品阵容。除了 Journavx，该生物技术公司在 2023 年还获得了针对两种罕见血液疾病的基因编辑疗法 Casgevy 的批准。虽然这些产品目前对财务业绩的贡献不大，但最终会有所贡献。Vertex 指出，Journavx 的推出进展顺利。它已为大约 1.5 亿美国人获得了第三方覆盖，这表明对该药物有合理的需求。</p>
</div><p>Third, Vertex should still make some headway in the market for pain treatments. It's enrolling patients for phase 3 studies of Journavx in diabetic peripheral neuropathy, while VX-993 will also be tested in mid-stage clinical trials in this indication.</p>
<div class="lb-trans"><p>第三，Vertex 在疼痛治疗市场仍应能取得一些进展。它正在为 Journavx 在糖尿病周围神经病变的三期研究招募患者，同时 VX-993 也将在这一适应症中进行中期临床试验。</p>
</div><p>Fourth, the company has several other exciting pipeline candidates. One of them is zimislecel, an investigational therapy for type 1 diabetes (T1D) that's posting strong results in clinical trials and could become an approved functional cure for T1D. It helps restore patients' ability to produce their own insulin, something that is normally not possible with this chronic health condition. Vertex plans on submitting regulatory applications for it next year.</p>
<div class="lb-trans"><p>第四，该公司还有几款其他令人兴奋的管线候选药物。其中之一是 zimislecel，这是一种针对 1 型糖尿病（T1D）的研究性疗法，在临床试验中表现出强劲的结果，可能成为 T1D 的批准功能性治愈方法。它有助于恢复患者自身产生胰岛素的能力，而这在这种慢性健康状况下通常是不可能的。Vertex 计划明年提交其监管申请。</p>
</div><p>The late-stage pipeline also features inaxaplin, a potential treatment for APOL-1-mediated kidney disease, a condition for which there are no approved therapies that target the underlying causes.</p>
<div class="lb-trans"><p>晚期管线还包括 inaxaplin，这是一种针对 APOL-1 介导的肾病的潜在治疗方法，该病没有针对根本原因的批准疗法。</p>
</div><p>Even well-established biotech companies like Vertex Pharmaceuticals face clinical setbacks that sink their stock prices. But in this case, given Vertex's strong lineup and pipeline and its consistent financial results, this seems like an excellent opportunity to purchase its shares on the dip.</p>
<div class="lb-trans"><p>即使是像 Vertex Pharmaceuticals 这样的成熟生物技术公司也面临着导致股价下跌的临床挫折。但在这种情况下，考虑到 Vertex 强大的产品阵容和管线以及其持续的财务业绩，这似乎是一个在股价下跌时购买其股票的绝佳机会。</p>
</div>

这只被严重压低的股票是否值得在低点买入？