Ventyx Biosciences, Inc. (NASDA: VTYX) Investor Alert: Deadline in Lawsuit on April 30, 2024
The lawsuit filed on behalf of certain investors in Ventyx Biosciences, Inc. (NASDA: VTYX) about the company’s alleged violations of securities laws is approaching its deadline of April 30, 2024.
There are stringent deadlines for investors who bought shares of Ventyx Biosciences, Inc. (NASDA: VTYX) as well as specific options. End date: 30 April 2024. NASDA: Investors in VTYX should get in touch with the Shareholders Foundation by phone at +1(858) 779-1554 or via email at [email protected].
Small molecule product candidates are developed by Ventyx Biosciences, Inc., a clinical-stage biopharmaceutical firm with headquarters in San Diego, California, to treat a variety of inflammatory illnesses.
Ventyx filed a registration statement on Form S-1 with the SEC on September 29, 2021, in connection with the IPO. On October 20, 2021, the SEC declared the registration statement valid following a number of changes. Ventyx offered more than 9 million shares of its common stock to the public in accordance with the Offering Documents, at the Offering price of $16.00 per share, generating approximately $141 million in proceeds for the company before expenses and after any applicable underwriting discounts and commissions.
According to the plaintiff, the Offering Documents were prepared carelessly, which resulted in false statements of material fact or omissions of other information required to make the statements not misleading. Additionally, the documents were not prepared in compliance with the rules and regulations that governed their preparation. To be more precise, the Offering Documents and the Defendants made false and/or misleading statements and/or neglected to disclose that VTX958’s clinical and/or commercial prospects were overstated because it was less effective in treating psoriasis than the Defendants had led investors to believe. As a result, the Company had misrepresented its ability to develop and commercialize effective product candidates, which in turn caused Ventyx’s post-IPO business prospects to be inflated. Consequently, the Company’s public statements were materially false and misleading at all relevant times.
Ventyx Biosciences, Inc. released multiple press releases on October 21, 2021, detailing encouraging developments and findings from the creation of VTX958, a brand-new TYK2 inhibitor.
Results from the Phase 2 SERENITY Trial were announced in a news release by Ventyx Biosciences, Inc. on November 6, 2023. The company stated that although while the trial’s main goal was met, the level of effectiveness that was seen fell short of our internal goal, which was to support the development of VTX958 in the treatment of plaque psoriasis. Based on these findings, the company declared that it will immediately stop the current activities in the Phase 2 plaque psoriasis trial and the ongoing Phase 2 VTX958 trial for psoriatic arthritis.
According to information released by Ventyx Biosciences, Inc.’s (NASDA: VTYX) stock, the company’s share price dropped from $46.71 on March 07, 2023 to as low as $1.87 on January 18, 2024.
In the complaint, which was submitted to the U.S. District Court for the Southern District of California, the plaintiff claims that the defendants broke federal securities laws when they sold common shares of Ventyx Biosciences, Inc. (NASDA: VTYX) between October 21, 2021, and November 6, 2023. More specifically, the plaintiff alleges that Ventyx Biosciences, Inc. concealed information from investors between October 21, 2021 and November 6, 2023 that VTX958 was not as effective in treating psoriasis as the company had claimed, overstating the drug’s clinical and/or commercial prospects in the process. As a result, the company misrepresented its potential to develop and market successful product candidates, inflating Ventyx’s post-IPO business prospects. Consequently, the plaintiff contends that the company’s public statements were materially false and misleading at all relevant times.
Investors in Ventyx Biosciences, Inc. (NASDA: VTYX) may contact the Shareholders Foundation to learn about their options.
Get in touch with Investors Foundation, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego(858)[email protected] is the fax number.
About The Shareholders Foundation, Inc.: We are a professional portfolio monitoring and settlement claim filing service that keeps investors informed about securities class actions, settlements, judgments, and other legal news pertaining to the stock and financial markets. We also conduct research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.
