Biotech Values

[DewDiligence]

VRTX: Ian Smith stated on the recent Lazard webcast that the Telaprevir NDA submission is expected in 4Q10; the prior guidance was 2H10.

For positive events, I generally interpret a biotech company’s guidance of 2Hnn to mean 4Qnn and 1Hnn to mean 2Qnn; hence, I don’t consider the updated Telaprevir guidance to be a delay, but I will nevertheless update the Clinical/Regulatory calendar file.