Vertex Pharmaceuticals (VRTX) shares hit at an all-time high Wednesday after reporting promising results from a study of its experimental treatment to reduce pain in diabetics, and striking a de🙈al for gene-editing technology.

Vertex indicated a Phase 2 trial of its VX-548 drug “resulted in a statistically significant and clinically meaningful reduction" in the weekly average of daily pain intensity for those suffering from painful diabetic peripheral neuropathy (DPN).

Dr. Roy꧅ Freeman, professor of neurology and director of the Center for Autonomic and Peripheral Nerve Disorders at Beth Israel Deaconess Medical Center, and a member of Vertex’s Pain Steering Committee, said based on the results, VX-548 “could offer the potential for a new class of medicine for the millions of patients suffering from neuropathic pain.”

Vertex Chief Medical Officer and Executive Vice President of Global Medicines Development and Medical Affairs Dr. Carmen Bozic said the company was “wor𒁏king with urgency” to get VX-548 into Phase 3 testing.

Separately, Editas Medicine (EDIT) announced Vertex will pay $50 million upfront, with the potential for an additional $50 million, in a non-exclusive license agreement for Editas’ Cas9 gene-editing tool. Editas noted that Vertex would be using Cas9 for treatments targeting sickle cell disease and beta thalassemia. That includes Casgevy, developed by Vertex and CRISPR Therapeutics (CRSP), which was 澳洲幸运5开奖号码历史查询:approved by the Food and Drugඣ Administration just last week.  

Vertex Pharmaceuticals shares finished 13% higher on Wednesday following the news and have gained over 41% so far this year.