What's Going On With Autoimmune/Inflammatory Disorder-Focused Ventyx Biosciences On Monday?

Ventyx Biosciences Inc VTYX shares are trading lower after the company provided clinical and pipeline updates on Monday during its virtual investor event.

“With these compelling clinical results and support from our recent PIPE financing, we are announcing a pipeline reprioritization, with internal resources to be focused on advancing our portfolio of potential best-in-class NLRP3 inhibitors in high-value indications with a substantial unmet medical need,” said Raju Mohan, CEO.

The company is developing two NLRP3 inhibitors: 

• VTX3232 (CNS-penetrant NLRP3 Inhibitor): The company completed a Phase 1 single- and multiple-ascending dose trial of VTX3232 in adult healthy volunteers. VTX3232 was well-tolerated, with no dose-limiting toxicities identified. All treatment-emergent adverse events were graded mild or moderate. 
• The company expects to initiate a Phase 2a trial of VTX3232 in patients with early Parkinson’s disease during the second half of 2024 and a Phase 2a trial of VTX3232 in subjects with obesity and certain additional risk factors for cardiovascular disease during the second half of 2024.
• VTX2735 (Peripheral NLRP3 Inhibitor): The company completed a Phase 2 trial of VTX2735 in patients with cryopyrin-associated periodic syndromes (CAPS). Treatment with VTX2735 demonstrated clinically meaningful improvements in disease activity, including an 85% mean reduction in the Key Symptom Score during the Treatment Period. Reductions in inflammatory biomarkers were also observed, consistent with improvements in disease activity. VTX2735 was well-tolerated, and all drug-related adverse events were graded mild. 
• Ventyx Biosciences plans to evaluate VTX2735 in cardiovascular diseases with an initial focus on the secondary prevention of major adverse cardiovascular events (MACE) and recurrent pericarditis.

For VTX002 (S1P1R Modulator), the company intends to identify a partner or other source of non-dilutive financing to support the pivotal Phase 3 trial in ulcerative colitis.

The company reported cash, cash equivalents and marketable securities of $252.2 million as of December 31, 2023. 

Combined with approximately $100 million gross proceeds from recent PIPE financing and based on revised pipeline priorities, the company expects current cash, cash equivalents, and marketable securities to fund planned operations into at least the second half of 2026 versus at least H2 2025 expected earlier.

Price Action: VTYX shares are down 17.6% at $8.17 on the last check Monday.