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Ventyx Biosciences Inc. (NASDAQ:VTYX) jumped 86.53% to $7.20 in after-hours trading on Wednesday after the company reported positive Phase 2 trial results for its obesity and cardiovascular risk drug candidate, VTX3232.
Check out the current price of VTYX stock here.
In a study involving 175 participants, VTX3232 monotherapy led to a 78% reduction in hsCRP levels at week 12 compared to baseline, while the placebo group saw a 3% increase, according to the company's announcement. This result was statistically significant (p<0.0001) in the modified analysis set. High-Sensitivity C-reactive Protein is a blood test that detects even small amounts of C-reactive protein to help evaluate an individual's risk of developing cardiovascular disease.
In the full analysis set, VTX3232 showed a 64% reduction in hsCRP, compared to a 3% increase in the placebo group (p<0.0001).
Treatment resulted in 69% of patients achieving target hsCRP levels below 2mg/L (p<0.0001).
According to the company's press release, VTX3232 was safe and well-tolerated, with adverse event rates similar to those of the placebo.
Treatment-emergent adverse events were reported in 46% of patients receiving VTX3232, compared to 49% in the placebo group.
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Raju Mohan, CEO of the clinical-stage biopharmaceutical company, stated, "VTX3232 holds promise for a new generation of oral anti-inflammatory therapies that, orthogonal to lipid lowering, may further reduce the risk of cardiovascular events."
Ventyx reported second-quarter earnings on Aug. 7, with a loss of 38 cents per share, beating analysts' expectations of a 46-cent loss. The company reported no revenue for the quarter.
The next earnings report is scheduled for Nov. 6.
Ventyx shares increased 74.66% over the past year and 232.76% over the past six months. The stock's 52-week range is $0.78 to $4.12.
The California-based company has a market capitalization of $275.25 million and an average daily trading volume of 1.32 million shares.
Price Action: VTYX closed on Wednesday at $3.86, up 2.66%, according to Benzinga Pro data.
With a strong Momentum in the 95th percentile, Benzinga’s Edge Stock Rankings indicate that VTYX has a positive price trend across all time frames. Here is how the stock fares on other parameters.
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Photo Courtesy: Jose Mario Bertero on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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