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Ventyx Biosciences, Inc.

Company NameVentyx Biosciences, Inc.
Stock SymbolVTYX
Class PeriodOctober 21, 2021 to November 06, 2023
Lead Plaintiff Motion DeadlineApril 30, 2024

On or about October 21, 2021, Ventyx conducted its initial public offering (“IPO”), selling over 9 million shares of common stock at $16.00 per share.

On November 6, 2023, Ventyx announced results from the Phase 2 SERENITY Trial for its plaque psoriasis treatment, VTX958, disclosing that “[a]lthough the trial achieved its primary endpoint, the magnitude of efficacy observed did not meet [the Company’s] internal target to support advancement of VTX958,” and that the trial would be terminated.

On this news, Ventyx’s stock price fell $11.36, or 80.6%, to close at $2.73 per share on November 7, 2023, thereby injuring investors.

Then, on November 22, 2023, Ventyx disclosed that the Company’s President and Chief Medical Officer would no longer serve in those roles.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Offering Documents and Defendants failed to disclose to investors that: (1) VTX958 was less effective in treating psoriasis than Defendants had led investors to believe; (2) as a result, VTX958’s clinical and/or commercial prospects were overstated; (3) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; (4) Ventyx’s post-IPO business prospects were thus inflated; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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