Vertex raises 2026 revenue guidance, sets povetacicept PDUFA date and Crinetics deal timing
Vertex lifted its full-year revenue outlook and disclosed a November 30 FDA decision date for povetacicept in IgA nephropathy while confirming plans to close its Crinetics acquisition in the third quarter.
Vertex Pharmaceuticals reported second quarter 2026 results on August 3, 2026, with total revenue rising 12% to $3.33 billion compared to the second quarter of 2025, driven by continued cystic fibrosis therapy performance and growth from diversification into other disease areas.1
On the regulatory front, the FDA accepted the BLA for accelerated approval of povetacicept in adults with IgA nephropathy and set a PDUFA target action date of November 30, 2026, based on positive Week 36 interim data from the Phase 3 RAINIER trial.1 If approved, povetacicept would become Vertex's first commercialized therapy in its nephrology pillar.1 Separately, the FDA approved CASGEVY for children 2 years and older with sickle cell disease or transfusion-dependent beta thalassemia, made in 53 days post-filing, opening eligibility to roughly 5,500 additional patients.1
In the pipeline, Vertex completed dosing in its proof-of-concept study of next-generation CFTR corrector VX-828 and expects results in the second half of 2026.1 The company also completed enrollment and dosing in the Phase 2 AMPLIFIED study of inaxaplin in APOL1-mediated kidney disease, covering patients not studied in the AMPLITUDE trial, with data expected this fall.1
On corporate development, Vertex confirmed in July it agreed to acquire Crinetics Pharmaceuticals for $85.00 per share in cash, valuing the deal at approximately $10.0 billion, or about $8.8 billion net of estimated cash acquired.1 The company said it expects the transaction to close in the third quarter of 2026, and current guidance excludes any impact from the pending deal, with updated figures to follow after closing.
Vertex also raised its full-year 2026 revenue guidance, from a prior range of $12.95 billion to $13.1 billion up to a new range of $13.1 billion to $13.2 billion.1 As of June 30, 2026, cash, cash equivalents and total marketable securities stood at $13.6 billion, up from $12.3 billion at the end of 2025.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.