Ventyx Biosciences plummets on halting trials for psoriasis drug

Ventyx Biosciences

07/11/2023 13:39

** Shares of drug developer Ventyx Biosciences  VTYX.O  sink
76.65% to $3.29 premarket
    ** Co said late on Monday it will terminate mid-stage trials
of its psoriasis drug VTX958
    ** Says though the trial met its main goal, the magnitude of
efficacy did not meet the internal target to support developing
the drug to treat plaque psoriasis
    ** Says is also ending trials of the drug for psoriatic
arthritis, which is linked with the skin disease psoriasis
    ** However, its will continue to enroll for mid-stage trial
in Crohn’s disease, an inflammatory bowel disease, with an
interim efficacy analysis to come in Q1 2024
    ** Brokerage H.C. Wainwright & Co said the VTX958 data for
psoriasis was disappointing and it had low confidence in trials
for Crohn's disease
    ** Up to last close, stock down ~57% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))