Vertex's Non-Opioid Pain Drug Suzetrigine Awaits Key Study Results and FDA Decision

Key Insights

• Vertex Pharmaceuticals' suzetrigine is under review by the FDA for acute pain treatment, with a decision expected in January.
• Results from a suzetrigine study in lumbosacral radiculopathy (LSR) patients are anticipated, potentially expanding its use to chronic pain.
• Vertex raised its full-year sales outlook to $10.8-$10.9 billion, driven by strong performance of its cystic fibrosis treatment, Trikafta.

Vertex Pharmaceuticals is nearing key milestones for its non-opioid pain treatment, suzetrigine, as it awaits both study results and an FDA decision. The company's third-quarter earnings surpassed Wall Street expectations, but analysts are particularly focused on the potential of suzetrigine to address acute and chronic pain.

Suzetrigine's Potential in Lumbosacral Radiculopathy

Analysts anticipate results from a study of suzetrigine in patients with lumbosacral radiculopathy (LSR) before the end of the year. LSR, a condition resulting from compressed or irritated spinal nerves, causes sciatic leg pain. RBC Capital Markets analyst Brian Abrahams noted that LSR represents a "high unmet need multibillion-dollar condition." Positive results in this study could pave the way for suzetrigine's approval for chronic pain, offering an alternative to highly addictive opioids. However, Abrahams also cautioned about the need to replicate these results in a Phase 3 study.

FDA Decision and Cystic Fibrosis Treatment

The FDA is scheduled to decide in January whether to approve suzetrigine for acute pain. In addition, the FDA is also expected to consider approving Vertex's next-generation cystic fibrosis treatment in January. Vertex's sales for the third quarter increased by 12% to $2.77 billion, exceeding expectations of $2.69 billion. Trikafta, the company's latest-generation CF treatment, accounted for the majority of these sales, generating nearly $2.59 billion.

Casgevy Sales and Future Prospects

Sales of Casgevy, Vertex's gene-editing treatment for sickle cell disease and beta thalassemia developed in partnership with Crispr Therapeutics, contributed $187 million. However, Mizuho Securities analyst Salim Syed suggests that sales forecasts for Casgevy may need to be adjusted downward due to the complex manufacturing process. The process, which involves collecting patients' immune cells and manufacturing a bespoke drug, can take up to six months. As of now, only one patient has received the treatment, and revenue is only recognized upon treatment administration. For the year, Vertex raised its sales outlook to $10.8 billion to $10.9 billion.