VRTX

• GAAP net income was $1.1 billion and non-GAAP net income was $1.2 billion for Q2 2026.
• Full-year 2026 revenue guidance raised to $13.1 billion to $13.2 billion, from $12.95 billion to $13.1 billion previously.
• CASGEVY revenue was $76 million in Q2 2026, up 151% year-over-year; JOURNAVX revenue was $50 million, more than quadrupling from $12 million in Q2 2025.
• Vertex entered into an agreement to acquire Crinetics Pharmaceuticals, with closing anticipated in Q3 2026.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Crinetics stockholders will receive $85.00 per share in cash, with unvested options and RSUs vesting and converting to cash.
• The merger is expected to close in the third quarter of 2026, subject to stockholder approval, regulatory clearances, and other conditions.
• Vertex plans to finance the merger with cash on hand and a $4.5 billion bridge loan facility from Bank of America and Morgan Stanley.
• The deal is intended to accelerate Vertex's revenue growth, with potential for more than $5 billion in annual revenue from Crinetics' pipeline.

1.01 Entry into a Material Definitive Agreement · 7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Shareholders approved the 2026 Stock and Option Plan, which replaces the 2013 Stock and Option Plan, with 216,097,268 votes for, 6,523,460 against, and 376,908 abstentions.
• Shareholders ratified Ernst & Young LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 223,514,070 votes for.
• The advisory vote on 2025 named executive officer compensation was approved with 207,918,843 votes for and 14,522,776 against.
• A shareholder proposal regarding the right to act by written consent was not approved, with 126,892,696 votes for and 95,756,148 against.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders

• Total revenue for Q1 2026 was $2.99 billion, an 8% increase compared to Q1 2025.
• CASGEVY revenue was $43 million and JOURNAVX revenue was $29 million in Q1 2026.
• Company reiterated full-year 2026 guidance: total revenue of $12.95 to $13.1 billion, non-CF product revenue of $0.5 billion or more.
• Completed rolling BLA submission for povetacicept in IgA nephropathy; initiated Phase 3 portion of OLYMPUS study in primary membranous nephropathy.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• On April 28, 2026, Suketu Upadhyay informed Vertex's board he will not stand for re-election at the 2026 annual meeting.
• His departure is due to scheduling conflicts with his new Incyte role and involves no disagreement with Vertex.
• He will continue serving on the board until the 2026 annual meeting.
• The board plans to reduce its size to ten members after his departure.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements

• The company used a priority review voucher, which is expected to shorten the FDA review period to six months from acceptance, versus the typical ten-month review.
• The submission was completed on March 31, 2026, and reported under Item 8.01 Other Events.
• The BLA is for potential accelerated approval, and the company notes that approval is not guaranteed and may be delayed.

8.01 Other Events

• GAAP net income for Q4 2025 was $1.2 billion and non-GAAP net income was $1.3 billion; full-year GAAP net income was $4.0 billion and non-GAAP net income was $4.7 billion.
• Company provides full-year 2026 total revenue guidance of $12.95 billion to $13.1 billion, with non-CF products expected to contribute $500 million or more.
• CASGEVY generated Q4 2025 revenue of $54 million and full-year 2025 revenue of $116 million; JOURNAVX saw over 550,000 prescriptions filled through year-end 2025.
• Vertex is on track to complete BLA filing for povetacicept in IgAN in the first half of 2026, with interim analysis data expected in the same period.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• GAAP net income was $1.1 billion and non-GAAP net income was $1.2 billion for Q3 2025.
• Full year 2025 revenue guidance refined to $11.9 to $12.0 billion.
• Combined non-GAAP R&D, AIPR&D, and SG&A expense guidance for FY2025 is now $5.0 to $5.1 billion.
• Non-GAAP effective tax rate guidance lowered to 17% to 18% for FY2025.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits