NEW YORK, April 01, 2024 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Ventyx Biosciences, Inc. (NASDAQ: VTYX)?
- Did you purchase your shares pursuant and/or traceable to the Company’s October 21, 2021 IPO, or between October 21, 2021 and November 6, 2023, inclusive?
- Did you lose money in your investment in Ventyx Biosciences, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors that purchased or otherwise acquired: (a) Ventyx Biosciences, Inc. (“Ventyx” or the “Company”) common stock pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about October 21, 2021 (the “IPO” or “Offering”); and/or (b) Ventyx securities between October 21, 2021 and November 6, 2023, both dates inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of California and alleges violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 (the “Complaint”).
If you purchased or acquired Ventyx securities, including pursuant to the IPO, and/or would like to discuss your legal rights and options please visit Ventyx Biosciences, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court no later than April 30, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
According to the Complaint, Ventyx is a clinical-stage biopharmaceutical company that develops small molecule product candidates to address a range of inflammatory diseases. The Company’s lead clinical product candidate is VTX958, a selective allosteric tyrosine kinase type 2 inhibitor for psoriasis, psoriatic arthritis, and Crohn’s disease. In 2022, Ventyx initiated a Phase 2 clinical trial of VTX958 for the treatment of moderate to severe plaque psoriasis (the “Phase 2 SERENITY Trial”).
The Complaint alleges that the IPO’s offering documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. In addition, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) VTX958 was less effective in treating psoriasis than Defendants had led investors to believe; (ii) as a result, VTX958’s clinical and/or commercial prospects were overstated; (iii) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; and (iv) Ventyx’s post-IPO business prospects were inflated.
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 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.
If you purchased or acquired Ventyx securities, including pursuant to the IPO, and/or would like to discuss your legal rights and options please visit Ventyx Biosciences, Inc. Shareholder Class Action Lawsuit or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Investor Relations Manager
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
