INVESTOR INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Ventyx Biosciences

On October 21, 2021, Ventyx filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the "Prospectus" and, collectively with the Registration Statement, the "Offering Documents").

On November 6, 2023, during after-market hours, Ventyx issued a press release announcing results from the Phase 2 SERENITY Trial. Therein, the Company disclosed that "[a]lthough the trial achieved its primary endpoint, the magnitude of efficacy observed did not meet our internal target to support the advancement of VTX958 in plaque psoriasis." Based on these results, the Company announced that it "will terminate ongoing activities in the Phase 2 plaque psoriasis trial effective immediately" and "terminate the ongoing Phase 2 trial of VTX958 in psoriatic arthritis."

On this news, Ventyx's common stock price fell $11.36 per share, or 80.62%, to close at $2.73 per share on November 7, 2023.

Then, on November 22, 2023, Ventyx disclosed in a filing with the SEC on Form 8-K that the Company's President and Chief Medical Officer Defendant William J. Sandborn would cease to serve in those roles.

As of the time this Complaint was filed, the price of Ventyx common stock continues to trade below the $16.00 per share Offering price, damaging investors.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Ventyx's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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SOURCE Faruqi & Faruqi, LLP