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Tears for FAERS: An­oth­er FAERS dis­as­ter ru­mor slams Ver­tex shares in a Wall Street melee — but this time the tem­pest passed quick­ly

Ver­tex is the lat­est biotech to get tripped up by the FDA’s Ad­verse Event Re­port­ing Sys­tem, which con­tains a hodge­podge of in­for­ma­tion about ad­verse events.

Mid-morn­ing on Wednes­day word spread on the grapevine — Twit­ter and so on — that the data­base in­clud­ed the news that 30 pa­tients tak­ing their cys­tic fi­bro­sis drug Symdeko had died. That was good for a flash-trash of the stock, which slid 4% as FAERS sparked new FEARS, writ large.

But un­like some of these in­ci­dents, it was over al­most as soon as it start­ed. The com­pa­ny put out a state­ment that there’s noth­ing new they know about the block­buster drug’s safe­ty. And an­a­lysts helped with a few quick news flash­es of their own.

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