Ventyx falls as rival DICE reports positive psoriasis treatment data

Dice Therapeutics

11/10/2022 20:48

** Shares of Ventyx Biosciences  VTYX.O  fall nearly 10% to
$30.26 - hitting lowest levels in nearly a month
    ** Stock on track for fourth consecutive session of losses 
    ** Earlier on Tuesday, rival DICE Therapeutics Inc  DICE.O 
said its experimental drug was well tolerated and showed
clinical proof-of-concept in patients with psoriasis
 urn:newsml:reuters.com:*:nL4N31C2OB
    ** DICE adds its drug DC-806 showed significant reduction in
area and severity of psoriasis on a scale compared to placebo in
an early-stage study
    ** Psoriasis is a skin disease that causes a rash with
itchy, scaly patches, most commonly on the knees, elbows, trunk
and scalp
    ** Jefferies says DICE's data does not alter the long-term 
potential of VTYX's drug candidate, VTX958, which includes
potential for treatment of inflammatory bowel disease 
    ** VTX958 is designed to block the action of the tyrosine
kinase protein
    ** Jefferies maintains "buy" rating for VTYX, says continue
to like co at its current market cap of $1.9 billion given
strong early stage data for VTX958, and mid-stage data
potentially in 2023
    ** As of last close, VTYX up ~59% since Nasdaq debut in
October 2021 
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))