Ventyx Biosciences Inc (VTYX)

Ventyx Biosciences Stock (VTYX) dropped by 80.62% from $14.09 to $2.73 in the trading on Tuesday November 7, 2023. The reason why VTYX stock down today is due to the lackluster mid-stage trial results for psoriasis drug. Ventyx Biosciences reported to end development of an experimental drug for treating plaque psoriasis though it proved safe and moderately effective in a mid-stage trial. That’s because the company announced that the small molecule, VTX958, had not met the biotech’s internal goals to advance to the next phase of clinical development.

Shares of Ventyx Biosciences (VTYX) dropped by 25.93% from $30.00 to $22.22 in the trading on Tuesday, October 10, 2023. The reason why VTYX stock down is due to the announcement of the Phase 2 trial results of VTX002, a novel oral S1P1 receptor modulator, for the treatment of moderate-to-severely active ulcerative colitis (UC). Ventyx Biosciences, Inc. shared positive outcomes from the trial, highlighting VTX002's potential as an effective oral therapy for UC due to its favorable combination of efficacy and safety. The drug was well-tolerated with no serious adverse events or infections reported, and it exhibited promising clinical remission rates and endoscopic remission rates, particularly at the 60 mg dose. However, investors were concerned that VTX002 didn't differentiate itself enough from competing therapies like etrasimod (Pfizer) and Zeposia (Bristol Myers Squibb), which are already in use. This dramatic decline in VTYX stock price might be an overeaction.

VTYX's stock fell 5.82% following a revelation that a large shareholder has sold a substantial amount of holdings.

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