Vertex Pharmaceuticals’ second-quarter earnings beat Wall Street forecasts, but its shares slumped after the company reported a clinical setback that clouds its bid to build a non-opioid pain franchise. Revenue for the three months ended 30 June rose 12 % from a year earlier to $2.96 billion, driven chiefly by continued growth of its cystic-fibrosis portfolio. Adjusted earnings climbed to $4.52 a share, topping the $4.26 consensus estimate. Vertex maintained its full-year revenue outlook of $11.85 billion to $12 billion. The financial performance was overshadowed by news that VX-993, an intravenous next-generation NaV1.8 inhibitor, failed to achieve statistically significant pain relief versus placebo in a post-bunionectomy Phase 2 trial. Vertex said it will discontinue development of VX-993 as a stand-alone therapy for acute pain. In a separate decision, the company will not launch a new study of its approved pill Journavx for lumbosacral radiculopathy after discussions with the U.S. Food and Drug Administration, and will instead concentrate on ongoing Phase 3 trials in diabetic peripheral neuropathy. Investors reacted swiftly: Vertex shares fell roughly 13 % in after-hours trading to $409.50, erasing gains generated by the earnings beat and underscoring concerns about the company’s ability to diversify beyond cystic-fibrosis treatments. Vertex also announced a planned leadership transition. Chief Scientific Officer David Altshuler, a key architect of the firm’s research strategy since 2015, will retire on 1 August 2026, with senior vice-president Mark Bunnage slated to assume the role next February.