Ventyx Biosciences’ stock drops over 70% after axing psoriasis drug program

Ven­tyx Bio­sciences has axed the de­vel­op­ment of its ex­per­i­men­tal pso­ri­a­sis drug af­ter lack­lus­ter Phase II re­sults, send­ing its stock plum­met­ing about 73% to $3.75 in pre­mar­ket trad­ing on Tues­day.

Its oral ty­ro­sine ki­nase 2 in­hibitor, VTX958, hit the pri­ma­ry and sec­ondary end­points of the tri­al — but did not show enough ef­fi­ca­cy to sup­port de­vel­op­ment, Ven­tyx CEO Ra­ju Mo­han said in a Mon­day state­ment.

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