Ventyx Biosciences, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Around October 21, 2021, Ventyx went public, offering more than 9 million shares at $16.00 each.
By November 6, 2023, Ventyx had shared the results of its Phase 2 SERENITY Trial for the plaque psoriasis medication VTX958, stating that while the trial met its primary goal, the effectiveness level did not reach the company’s internal standards for further development, leading to the trial’s termination.
Following this announcement, Ventyx’s share price plummeted by $11.36, a 80.6% decrease, ending the day at $2.73 on November 7, 2023, significantly impacting investors.
Subsequently, on November 22, 2023, it was revealed that the President and Chief Medical Officer of Ventyx would be stepping down from their positions.
The lawsuit initiated in this class action claims that during the specified period, the defendants consistently provided false or misleading information and neglected to reveal important negative details about the company’s business, activities, and future outlook. In particular, the litigation states that the offering documents and the defendants did not inform investors that: (1) VTX958 was not as effective for treating psoriasis as had been indicated; (2) therefore, the clinical and/or commercial viability of VTX958 was exaggerated; (3) as a consequence, the company’s capability to develop and market effective product candidates was misrepresented; (4) hence, Ventyx’s business prospects following the IPO were overestimated; and (5) therefore, the optimistic statements made by the defendants regarding the company’s business, activities, and outlook were substantially misleading and/or lacked a sound basis at all times relevant.
