In an almost unique move (in this market environment), Vertex sold $320 million of common equity into the public markets on February 19, 2009 (at very-near the prior-night's closing market price, to boot) -- and yet, the price of Vertex common has generally closed up, in the last seven days. That post-offering trading outcome was very common during the last-bubble -- but almost unheard of, since about October 2008. Especially to fund a not-yet-FDA-approved product.
Teleprevir really must be the one the market expects to win the next-gen Hep C horse-race:
. . . .The move will likely help bulk up the company's financial position as it continues developing its hepatitis C drug candidate telaprevir and prepares to commercialize the treatment. . . .
Telaprevir has been viewed as a potential leader in treating Hepatitis C, which is a viral liver disease that causes inflammation and has the potential to cause liver failure. . . .