Why Is Psoriasis Player Ventyx Biosciences Stock Trading Lower Today?
Portfolio Pulse from Vandana Singh
Ventyx Biosciences Inc (NASDAQ:VTYX) has announced disappointing results from the Phase 2 trial of VTX958 in patients with moderate to severe plaque psoriasis. Despite achieving statistical significance on the primary endpoint and all key secondary endpoints, the efficacy observed did not meet the company's internal target. As a result, Ventyx Biosciences will terminate ongoing activities in the Phase 2 plaque psoriasis trial and the ongoing Phase 2 trial of VTX958 in psoriatic arthritis. The company's stock is down 78.70% in premarket trading.
November 07, 2023 | 2:23 pm
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NEGATIVE IMPACT
Ventyx Biosciences' stock is expected to be negatively impacted in the short term due to the termination of the Phase 2 trials of VTX958 in psoriasis and psoriatic arthritis.
The termination of the Phase 2 trials of VTX958 in psoriasis and psoriatic arthritis due to disappointing results is a significant setback for Ventyx Biosciences. This is likely to negatively impact investor confidence and lead to a drop in the company's stock price in the short term.
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