Ventyx Discontinues TYK2 Inhibitor Programme Following Second Mid-Stage Setback

1. Ventyx Discontinues Programme: Ventyx Biosciences has stopped the development of its TYK2 inhibitor, VTX958, after a second mid-stage study failure.
2. Phase 2 Failure: The drug failed to meet the expected efficacy levels in a Phase 2 trial for moderate-to-severe plaque psoriasis and psoriatic arthritis.
3. Crohn's Disease Trial: VTX958 also failed to help patients achieve remission in a Phase 2 trial for Crohn's disease, leading to the discontinuation of the programme.
4. Market Impact: Ventyx's shares fell significantly, erasing hundreds of millions of dollars in market value, following the announcement.
5. Competitive Landscape: The TYK2 inhibitor market is highly competitive, with companies like Bristol Myers Squibb, Takeda, Priovant Therapeutics, and Alumis also developing similar drugs.