Vertex rises after kidney disease drug shows promise in mid-stage study

** Shares of Vertex Pharmaceuticals VRTX.O rise 1.1% to $516.53

** The biotech firm says its experimental drug inaxaplin cut protein in urine, a key sign of kidney damage, by 42.7% after 13 weeks in patients with APOL1-mediated kidney disease

** The genetic kidney disorder mainly affects people of African ancestry and can lead to kidney failure; no approved therapies exist

** Co says the drug also cut protein levels by 17.3% in patients who had both the disease and type 2 diabetes

** Says inaxaplin was generally safe and well tolerated, with no treatment-related serious side effects

** Including session's move, stock up ~14% YTD