Vertex Pharmaceuticals Inc., Massachusetts based biotechnology major, surged in early trading session after the company reported promising results for its investigational hepatitis C protease inhibitor Telaprevir. The stock opened at $20.49 on Monday and touched an intraday high of $22.61. The stock was trading at $22.45, up by 20.3% at 11.12 a.m. ET.

The trading volumes were much higher compared to an average volume of 3.78 million shares. The stock has touched a 52-week high of $41.42 and a 52-week low of $13.84.

Telaprevir (VX-950) is an investigational oral inhibitor of HCV protease, an enzyme essential for viral replication.

Last Thursday, stock gained over 13% after the company announced that its experimental cystic fibrosis drug has shown encouraging results.