Vertex Stock Rises on Promising Results for Kidney Disease Drug

Vertex Pharmaceuticals' (VRTX.O) stock rose by 1.1% to $516.53 after the company announced promising results for its experimental kidney disease drug, inaxaplin.

In a mid-stage study, inaxaplin reduced protein levels in the urine of patients with APOL1-mediated kidney disease by 42.7% after 13 weeks of treatment.

This genetic kidney disease mainly affects people of African descent and may lead to kidney failure; there is currently no approved treatment.