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February 2023
October 2022
August 2022
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November 2021
Three Months Ended September 30, | |||||||||
2018 | 2017 | % Change | |||||||
(in millions, except per share and percentage data) | |||||||||
TOTAL CF product revenues, net | $ | 783 | $ | 550 | 42% | ||||
GAAP net income (loss) | $ | 129 | $ | (103 | ) | ||||
GAAP net income (loss) per share - diluted | $ | 0.50 | $ | (0.41 | ) | ||||
Non-GAAP net income | $ | 282 | $ | 136 | 107% | ||||
Non-GAAP net income per share - diluted | $ | 1.09 | $ | 0.53 | 106% |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Vertex Pharmaceuticals Inc Ma.
Vertex Pharmaceuticals Inc Ma's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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In the nine months ended September 30, 2018, our cash, cash equivalents and marketable securities balance increased due to cash receipts from product sales, an $85.3 million increase in the fair value of our investment in CRISPR based on an increase in the price of CRISPRs common stock and $245.8 million of cash received from issuances of common stock under our employee benefit plans partially offset by cash expenditures to fund our operations and $207.0 million of cash used to repurchase shares of our common stock.
ended September 30, 2018 were $955.7 million of cash provided by operations, an $85.3 million increase in the fair value of our investment in CRISPR based on an increase in the price of CRISPRs common stock and $245.8 million of cash received from issuances of common stock under our employee benefit plans partially offset by $207.0 million of cash used to repurchase shares of our common stock and expenditures for property and equipment of $79.8 million as well as other expenditures.
Changes in the fair value of these contingent future payments affect net income attributable to Vertex on a dollar-for-dollar basis, with increases in the fair value of contingent payments payable by us to a VIE resulting in a decrease in net income attributable to Vertex or an increase in net loss attributable to Vertex and decreases in the fair value of contingent payments payable by us to a VIE resulting in an increase in net income attributable to Vertex or decrease in net loss attributable to Vertex.
The decrease in operating costs and expenses in the third quarter of 2018 as compared to the third quarter of 2017 primarily reflected a one-time $255.3 million impairment charge related to Parions pulmonary ENaC platform recorded in the third quarter of 2017 and a one-time $160.0 million payment to Concert in the third quarter of 2017 in connection with our acquisition of VX-561.
The decrease in operating costs and expenses in the nine months ended September 30, 2018 as compared to the nine months ended September 30, 2017 primarily reflected a one-time $255.3 million impairment charge related to Parions pulmonary ENaC platform recorded in the third quarter of 2017 and a one-time $160.0 million payment to Concert in the third quarter of 2017 in connection with our acquisition of VX-561.
These internal costs are significantly...Read more
our revenue growth, the progress...Read more
KALYDECO net product revenues increased...Read more
We believe that our total...Read more
Our board of directors also...Read more
We expect our imputed interest...Read more
As of September 30, 2018,...Read more
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Other expense, net in the...Read more
In prior periods, changes in...Read more
Pursuant to revenue recognition guidance...Read more
Parion and BioAxone have historically...Read more
In the third quarter of...Read more
As a result of new...Read more
We determined the amount of...Read more
Other income, net in the...Read more
Our total revenues increased in...Read more
Sales, general and administrative expenses...Read more
Sales of our products depend,...Read more
To obtain approval, we must,...Read more
In the third quarter and...Read more
These items are monitored and...Read more
As of September 30, 2018...Read more
Other expense, net in the...Read more
We plan to continue investing...Read more
Pursuant to these out-licensing arrangements,...Read more
Net income attributable to Vertex...Read more
Diluted net income per share...Read more
The FDA and ex-U.S. regulatory...Read more
The preparation of these financial...Read more
Parion was deconsolidated as a...Read more
Net income attributable to Vertex...Read more
For equity investments without readily...Read more
We may release all or...Read more
The decrease in our collaborative...Read more
The net income attributable to...Read more
As of September 30, 2018,...Read more
False claims laws prohibit anyone...Read more
Other items, net, in the...Read more
Accounting guidance, which became effective...Read more
Due to the high volatility...Read more
As discussed in Note M,...Read more
Our research expenses increased by...Read more
We are subject to laws...Read more
Therefore, accurate and meaningful estimates...Read more
Data obtained from these activities...Read more
Financial Statements, Disclosures and Schedules
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Vertex Pharmaceuticals Inc Ma provided additional information to their SEC Filing as exhibits
Ticker: VRTX
CIK: 875320
Form Type: 10-Q Quarterly Report
Accession Number: 0000875320-18-000029
Submitted to the SEC: Thu Oct 25 2018 4:10:19 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pharmaceutical Preparations