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Vertex (VRTX) Soars 42% On Cystic Fibrosis Breakthrough

Data To Be Submitted in Q4 For Approval

Two Phase III studies with combination drug showed clinically significant improvements in lung function

Rayno Life Science Pick and Deja Vu Trade

Last April at the same BIO Conference we wrote about Phase II data from Vertex when biopharmaceutical stocks got a'Turbo Boost "from Vertex. The stock soared 58% to $82 at that time.

Vertex was added to the Rayno Life Science Portfolio on 11/15/13 at a price of $62.8.

(Posting from BIO)

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Mid Day Market Update-Biotech Stocks 1:15p EDT

ETFs FBT up 2.26%, IBB up 1.9%, XBI up 0.66%

Usual Suspect Movers: CLVS up 2.78%, EPZM up 3.46%, ICPT up 2.88%, JAZZ down 2.11%,PBYI up 2.4%, SRPT down 3%. Small caps lagging.

Index of 50 mid and small cap biopharmaceuticals up 0.8%.

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Tired Tape Tempers Traders

Early rally fades with NASDAQ down 0.4%, biotech gains are muted. RED dominates screen. VRTX holds gains.

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Additional disclosure: Long FBIOX Fidelity Select Biotech Fund