Ventyx Biosciences (NASDAQ:VTYX) stock is falling hard on Tuesday after the clinical-stage biopharmaceutical company released poor study results.
These results come from a Phase 2 clinical trial of VTX958 in patients suffering from moderate to severe plaque psoriasis. The bad news here is that the company is stopping the development of the treatment following lackluster trial results.
Ventyx Biosciences notes that VTX958 was successful in meeting its primary and secondary endpoints. However, the efficacy was below the expected levels. Considering the competitive nature of the field the drug was developed for, these results don’t warrant the continued development of VTX958 for psoriasis and psoriatic arthritis.
VTYX Stock Movement Today
With news of it dropping the development of VTX958, shares of Ventyx Biosciences stock are seeing heavy trading on Tuesday. That has some 3.3 million shares changing hands as investors sell the stock. To put that number in perspective, the company’s daily average trading volume is about 761,000 shares.
VTYX stock is down 75.8% as of Tuesday morning and was down 52.3% year-to-date when markets closed on Monday.
Investors seeking out even more of the most recent stock market stories are in the right place!
We’re offering up insight into all of the hottest stock market news that traders need to know about on Tuesday! A few examples of that include what’s going on with shares of Tharimmune (NASDAQ:THAR) and Senti Biosciences (NASDAQ:SNTI) stock today, as well as the biggest pre-market stock movers this morning. All of these topics are covered in the links below!
More Tuesday Stock Market News
- Why Is Tharimmune (THAR) Stock Up 113% Today?
- Why Is Senti Biosciences (SNTI) Stock Up 140% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
