Vertex keeps neutral rating from Merrill

Vertex was kept at a neutral rating by Merrill Lynch analyst Hari Sambasivam. The company reported impressive results from its 28-day phase 2 study of the new tablet formulation of VX-950. There were no drug interactions, no safety issues and no virus breakthrough or resistance reported. Vertex plans to submit its animal toxicity and early clinical data to the FDA during the first quarter of 2006 to gain approval to begin a 200-patient three-month treatment study. Shares of the Cambridge, Mass., biotechnology company were up $1.81, or 5.28%, at $36.11 on volume of 4,379,715 shares versus the three-month running average of 1,367,220 shares. (Nasdaq: VRTX)

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