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Vertex Pharmaceuticals Inc. announced results of its annual shareholder meeting, including board election results and a plan authorizing a stock offering.
Three directors at the Cambridge-based biotechnology company were re-elected to the board: former Vertex CEO Joshua Boger; Charles A. Sanders, a former CEO of Glaxo Inc. who serves on the boards of four other biotechnology companies; and former Boston Medical Center head Elaine S. Ullian. Their terms will expire at the 2013 annual meeting of shareholders.
Roger W. Brimblecombe, a partner at MVM Life Science Partners LLP, stepped down from the board. He was the longest-serving member of the Vertex board, aside from Boger, with a tenure of 17 years.
Vertex (Nasdaq: VRTX) shareholders also approved a plan to authorize the company to issue 12 million additional shares of the company’s stock.
Vertex pulled in total revenue for first quarter of 2010 at $22.4 million, compared with $24 million for the first quarter of 2009. As of March 31, Vertex had $1.1 billion in cash, cash equivalents and marketable securities.
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