Vertex Fell 35% Last Week

Shares of

Vertex Pharmaceuticals

(VRTX) - Get Report

fell 35% in the week after the company reported a worse-than-expected first-quarter loss and said one of its new drugs wasn't a success. Vertex said it lost $22.1 million, or 29 cents a share, in the first quarter, wider than last year's loss of $11 million, or 15 cents a share. Analysts were looking for the company to see a loss of 28 cents. The company said revenue was up from last year, but that did little to dissuade sellers as news spread that a new experimental arthritis drug didn't show significant results when compared with a placebo.