Ventyx Biosciences (VTYX) Company Report

Eli Lilly and Company has entered into a definitive agreement to acquire Ventyx Biosciences, Inc. in an all-cash transaction.
The acquisition price is $14.00 per share of common stock, resulting in an aggregate equity value of approximately $1.2 billion.
This price represents a 62% premium to Ventyx's 30-day volume-weighted average trading price as of January 5, 2026.
The transaction, approved by both companies' boards, is expected to close in the first half of 2026, pending Ventyx stockholder and regulatory approvals.
The acquisition will integrate Ventyx's clinical pipeline of oral therapies, including NLRP3 inhibitors, to strengthen Lilly's capabilities in inflammatory-mediated diseases.

2 days ago

8-K

Ventyx Biosciences Updates VTX2735 Recurrent Pericarditis Study Timeline and Strategy

VTYX

Guidance Update

New Projects/Investments

Ventyx Biosciences has shifted the data readout for its VTX2735 recurrent pericarditis (RP) study to Q1 2025 from December, to facilitate a transition to a once-daily (QD) dosing regimen and expand trial sites in regions like Health Canada, EU, and UK. This strategic change aims to accelerate the Phase 3 program, with the Phase 3 study still expected in the second half of the year.
The company's goal for VTX2735 is to achieve a pain score of zero or one and CRP normalization to be competitive with ARCALYST. ARCALYST, a weekly infusion, has a WAC pricing over $300,000 annually and currently treats about 1,800 severe patients within the U.S. recurrent pericarditis market of approximately 14,000 severe patients.
Ventyx holds a Right of First Negotiation (ROFIN) agreement with Sanofi for VTX3232, primarily for CNS indications, with decisions anticipated within months. Should Sanofi not opt-in, Ventyx plans to explore cardiovascular indications for VTX3232.

Dec 3, 2025, 9:00 PM

Transcript

Ventyx Biosciences Updates on VTX2735 RP Study and Sanofi ROFIN for VTX3232

VTYX

New Projects/Investments

Guidance Update

Ventyx Biosciences announced that data from the VTX2735 recurrent pericarditis (RP) study, initially expected in December, will now be disclosed in Q1 2026. This delay is due to a strategic pivot to a once-daily (QD) drug regimen and the opening of additional study sites in the EU and UK, with Health Canada approval for more sites.
The company aims to accelerate the VTX2735 program, with a goal to transition to Phase 3 in the second half of 2026. Ventyx seeks to achieve a profile competitive with ARCALYST in terms of pain score and CRP reduction.
The recurrent pericarditis market in the U.S. comprises approximately 160,000 patients, with 14,000 severe patients experiencing three or more recurrences annually. ARCALYST, an approved treatment, has a Wholesale Acquisition Cost (WAC) pricing of over $300,000 per year and currently treats about 1,800 severe patients.
Ventyx has a Right of First Negotiation (ROFIN) with Sanofi for VTX3232, following a $27 million equity investment by Sanofi. This ROFIN period, which is expected to last months, not years, commenced after Ventyx delivered data packages from its Parkinson's and obesity/cardiovascular risk trials.

Dec 3, 2025, 9:00 PM

Transcript

Ventyx Discusses NLRP3 Inhibitor Pipeline and Clinical Development

VTYX

New Projects/Investments

Guidance Update

Ventyx, founded in 2021, has pivoted its primary focus to developing NLRP3 inhibitors for neuroinflammation, immunology, cardiovascular, and metabolic diseases.
The CNS penetrant compound 3232 demonstrated strong effects on NLRP3 markers (HSCRP, IL-6, fibrinogen) in cardiometabolic obesity patients, despite showing no effect on weight loss, and is subject to an exclusive Rofan with Sanofi.
For the peripheral oral NLRP3 inhibitor 2735, a Q4 data readout is expected for its recurrent pericarditis (RP) trial, with success criteria including a significant reduction in pain scores to 0-1 from a baseline of 4+.
Both 3232 and 2735 have shown strong safety profiles in clinical studies.
Ventyx anticipates moving 2735 into Phase 3 for RP in the second half of the year, potentially Q3, following the Q4 data readout.

Nov 19, 2025, 11:00 AM

Transcript

Ventyx Provides Updates on NLRP3 Inhibitor Programs and Clinical Trials

VTYX

New Projects/Investments

Guidance Update

Ventyx has pivoted its focus to inflammasome and NLRP3 inhibitors, with a portfolio they believe is best-in-class.
The company discussed its CNS penetrant compound, 3232, which showed strong effects on NLRP3 markers (HSCRP, IL-6, fibrinogen, SAA) but no effect on weight loss in cardiometabolic obesity patients. It is being positioned for neuroinflammation/neurodegenerative diseases and cardiovascular indications, with a Sanofi Rofan negotiation period underway.
Ventyx's peripheral compound, 2735, is expected to have an RP (recurrent pericarditis) data readout in Q4. Success for this trial is defined by a reduction in CRP and a pain score reduction to 0-1 on a 0-10 NRS scale, aiming to compete with Kiniksa's $500 million injectable Arkalyst.
Both 3232 and 2735 have demonstrated good safety profiles, with 3232 showing no safety signals or infections in a 12-week study of 80 people. Planning for 2735's Phase 3 in RP is expected to begin in the second half of the year, potentially by Q3.

Nov 19, 2025, 11:00 AM

Transcript

Ventyx Provides Update on NLRP3 Inhibitor Programs and Sanofi ROFN

VTYX

New Projects/Investments

Guidance Update

M&A

Ventyx has pivoted its focus to inflammasome, specifically developing NLRP3 inhibitors, with a portfolio that includes both CNS-penetrant and peripheral compounds.
Initial data for their CNS-penetrant compound, 3232, in cardiometabolic obesity patients showed no effect on weight loss but demonstrated strong peripheral effects on NLRP3 inflammatory markers. Sanofi holds a Right of First Negotiation (ROFN) for 3232, triggered by this data.
A Q4 data readout is expected for the peripheral oral NLRP3 inhibitor, 2735, in recurrent pericarditis (RP). Success will be measured by a reduction in pain score to 0-1 and CRP reduction, aiming to compete with injectable treatments like Kiniksa's ARCALYST.
Ventyx is incorporating a once-daily (QD) dose for 2735 into the RP trial and plans to begin Phase III planning in Q3 or H2 of the next year.

Nov 19, 2025, 11:00 AM

Transcript

Ventyx Biosciences Reports Q3 2025 Financial Results and Pipeline Progress

VTYX

Earnings

Guidance Update

As of September 30, 2025, Ventyx Biosciences reported $192.6 million in cash, cash equivalents, and marketable securities, which is expected to fund planned operations into at least H2 2026.
For the third quarter ended September 30, 2025, the company reported a net loss of $22.8 million, compared to a $35.2 million net loss for the third quarter of 2024. Research and Development expenses decreased to $17.7 million from $30.6 million in the prior year period.
Ventyx highlighted positive topline Phase 2 data for its CNS-penetrant NLRP3 inhibitor VTX3232 in participants with obesity and cardiovascular risk factors, demonstrating nearly an 80% reduction in hsCRP. Positive topline Phase 2a data for VTX3232 in Parkinson's disease was also reported.
Topline data from the Phase 2 study of VTX2735 in patients with recurrent pericarditis is anticipated in Q4 2025.
The company is exploring partnership opportunities for its Inflammatory Bowel Disease (IBD) portfolio, which includes tamuzimod and VTX958.

Nov 6, 2025, 9:05 PM

8-K

Ventyx Biosciences Reports Q3 2025 Financial Results and Pipeline Progress

VTYX

Earnings

Guidance Update

New Projects/Investments

Ventyx Biosciences reported a cash, cash equivalents, and marketable securities balance of $192.6 million as of September 30, 2025, which is expected to fund planned operations into at least H2 2026.
The company announced positive topline data from its Phase 2 study of VTX3232 in obesity and cardiovascular risk factors, showing an approximate 80% reduction in hsCRP, and positive Phase 2a data for VTX3232 in Parkinson's disease.
Ventyx anticipates reporting topline data from its Phase 2 study of VTX2735 in recurrent pericarditis in Q4 2025.
For the third quarter of 2025, the company reported a net loss of $22.8 million, with Research and Development expenses of $17.7 million and General and Administrative expenses of $7.2 million.

Nov 6, 2025, 9:02 PM

Press Release

Ventyx Biosciences Announces Positive Phase 2 Study Results for VTX3232

VTYX

New Projects/Investments

Ventyx Biosciences announced positive topline results from its Phase 2 study of oral, once-daily VTX3232 for patients with obesity and cardiovascular risk factors on October 22, 2025.
VTX3232 monotherapy achieved a 78% reduction in high-sensitivity C-reactive protein (hsCRP) at week 12, significantly outperforming placebo (p<0.0001).
The study also demonstrated statistically significant reductions in IL-6 and Lp(a), and liver inflammation, with VTX3232 being safe and well tolerated both as monotherapy and in combination with semaglutide.
VTX3232 did not show an effect on weight, either as a monotherapy or as an add-on to semaglutide.

Oct 22, 2025, 8:02 PM

Press Release

Appili Therapeutics Awarded NIAID Contract for Fungal Vaccine Development

VTYX

New Projects/Investments

Product Launch

Appili Therapeutics Inc. and its partner Vitalex Biosciences were awarded a contract by the National Institute of Allergy and Infectious Diseases (NIAID) for up to US$40 million to develop VXV-01, a vaccine against invasive fungal infections.
The five-year contract includes a 22-month base period of US$3.6 million and twelve additional option periods valued at approximately US$36.3 million.
This funding is expected to support the development of VXV-01 through Investigational New Drug (IND) submission and completion of Phase 1 clinical trials.
Appili Therapeutics has also submitted additional U.S. government funding proposals for other infectious disease products, with a combined potential award value of up to US$97 million.