Earnings call transcript Q4 2022

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Ventyx Biosciences Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time all participants have been placed on a listen-only mode, and the floor will be open for your questions following the presentation. [Operator Instructions].

As a reminder, this conference call is being recorded.

I would now like to turn the call over to Dr. Financial Chief Ventyx's Auster, Officer. Marty

You may begin.

Marty Auster

and Chelsea. today. Welcome you, where a will fourth business Good and financial call afternoon, us joining we quarter our discussing for update. Thanks be year to providing webcast, XXXX results everyone. and Thank full Ventyx’s conference Biosciences

can Events under As tab the a presentation in reminder, section. our on the most company's found the & Investors website investor News recent be at www.ventyxbio.com,

call completion the conference webcast of Before including and funding current cash remind of for today, clinical everyone forward-looking opportunity we about our will of clinical commencement, I’d to product securities. equivalents candidates, statements and operations release this with begin contain like marketable expected trials, without would that, limitation for anticipated enrollment and anticipated the company, of statements and about data, frame market timing trial the the the time timing

this and to outcomes could could subject such These that cause uncertainties are materially XXXX differ our to will discussed actual XX-K the results actual in and/or cause those SEC, XX, greater ended detail including reports from to afternoon. for implied statements expressed recent statements are December with by forward-looking that Factors results risks our filed filed differ. or in Form be most year the which

release except call that in or future of Please results statements, this no by new statements as we information and as these or the required law. of reflect to these date undertake publicly forward-looking to of of note our opinions events, any the only light forward-looking obligation revisions revise

go and Dr. hand over CEO. I'll now Raju, said, to that Raju Mohan, With call Ventyx's Founder ahead. please the

Raju Mohan

joining this afternoon. everyone the thanks for and Marty Thanks, call

Bill I'm a I'm Bill our business going and will Sandborn, agenda. and to President the hand high today's then level call Chief and Officers, provide over here's Medical full-year So XXXX color call Q&A. with little open going to we update, brief financial pipeline our the across programs. up results wrap up all a finally overview Marty a will of before our more for provide to And

me outstanding with progress and accomplishments that molecules amazing medical of start portfolio was unmet continue small be successfully So I advance a financial prouder markets with and XXXX need. large high our strengthen position let team, of reiterating an discovered, build our execution to Ventyx. not could as wholly our that for year internally unique target we of owned,

from leading data in trial now, results TYKX quarter cytokines. of X of we top potential and coverage Recapping class IC-XX of portion novel XXXX profile inhibitor, the TYKX multiple third in demonstrate the dose the IL-XX a including of other safety reported ascending mediated I trial. these across believe the We positive Phase our allosteric Phase line profile, doses best-in-class An VTX-XXX. all excellent tested

on Phase these as before, with initiated the Crohn’s in HARMONY provide guided, active arthritis, additional Bill previously psoriatic trial had with SERENITY and active and severe the to in moderate color to VTXXXX the three trial trials. disease going we TRANQUILITY moderate severe in beginning I we As trial programs X is plaque said psoriasis; to

our Inhibitor, In reported June NLRPX data VTXXXXX. we X of XXXX for Phase positive peripheral

in a With ready that program. X CMC proof Phase is the VTXXXXX Toxicology studies, we requisite end, patients. that completion mechanism CAPS we today VTXXXXX now of a have To of for trial & Phase announced initiated X

modulators to to later VTXXXX colitis. Phase while has year. trial all And continuing Phase ulcerative VTXXXXX IND-enabling SXPX completed initiating look I in our and of Meanwhile, in this novel our CNS-penetrant forward we’ve of the global class this first half a trial in studies of potential, X achieved we NRLPX best inhibitor receptor

ulcerative differentiate trial this colitis. from excited for midyear, to about modulators the enrollment we remain and to report on to potential and complete pleased track that are VTXXXX We remains other by SXPX

cadence transformative line our we XXXX in the out SXPX horizon, catalyst Phase will XXXX in likely will York of key vision a data term for near early our January we a with in clinical ulcerative is with or VTXXXX the half truly Ventyx. data top of number of X start Day behind believe modulator in And which for QX be colitis held what the laid late the us, second year, our in year expected New and QX. and for R&D With

VTXXXX later to expect the top QX. the in line And disease in SERENITY finally, in X in report psoriatic expect of from arthritis Phase data psoriasis We X Phase Crohn’s data and for XXXX. VTXXXX trial we plaque readouts

from you which across can dominated mission, is committed our and as safe large is entire always bring by immunology medicines but currently pipeline, activity summary, tremendous remain there brief to oral our to my see markets, as So effective amount to of biologics. we

Bill our throughout So progress we sharing we call to look updates to that, year. forward I'm for in-depth on you more the Bill. pipeline a more this as update over going with to hand with programs. But

Bill Sandborn

very and Thank provide I'm forward pipeline for afternoon we a update good to you, Raju, year look Ventyx. brief important a as excited today everyone. to

I'll begin the with VTXXXX.

three IL-XX, trials I coverage Day will three it's high we including R&D of the We range our X active of a Phase across mentioned, trials repeat ICXX. the the we've doses, January. three but TRANQUILITY trial aspects trial won't to moderately presented plaque includes here, Phase all psoriatic of disease, SERENITY those reiterate severe As expected these approximate key in in a moderate in is enrollment explore VTXXXX. to Crohn’s HARMONY This the trials, arthritis. psoriasis, trial in dose Phase severely that active X that is trough at important X of details of to underway in and to

important also unique safe the of and believed level relevant be will will for effective the this to level high required coverage inhibition coverage maximizing TYKX of unmet like level with We there potential is for will first in biologic essential and and exploring indications, exposures in like to impact the across psoriasis inhibitors oral in a of efficacy VTXXXX activity. maybe suppression psoriatic that explore for therapeutic inhibition believe target therapy is resulting of high among development believe of likely We disease, pathways be particularly IL-XX and full TYKX of IL-XX near that where arthritis relatively biologic and we opportunity a need Crohn’s be where this achieve of higher target efficacy. – and

SERENITY execution line during is team year. the plaque top focused this Our the and Phase on to psoriasis fourth trial laser reporting quarter we look from and these forward of X data the of trials,

tablet an dosing X We class to also continue to Phase which release extended formulation VTXXXX for our is expected our in make exposures the trials. in development X, or our of QD leading simulate for on regimen progress once Phase

our year in achieve these that formulations to us completed product the the the At to both of we after desired our Dissolution great studies. also These ability middle R&D look We day part our in profile, Assays our GI target initial in Dynamic QD forward on and release we confidence our these in the data early prototype prototypes. extended regimen. data Vitro from Modeling promising inhuman for Vitro of profile give have efforts showed updating you exhibit testing release Modeling

with extended the X half X of psoriasis Phase XXXX. activities we the for in ready, will tablets start on XXXX, second the be to of release CMC initiate In Phase

we provide of part this in We will the the more details have latter on also planning, initiated X and broader year. Phase

this open you to our for now SXPX laid R&D and X in for strategic Phase vision VTXXXX, our out Moving best X shared At the ongoing program day, our ulcerative on label would receptor trial. to very like the preliminary potential pharmacodynamic the I class from Phase update on for some encouraging on modulator data colitis. extension we program

which XX clinically XX we optimized of range. XX label the milligrams, count compared by of XX of pharmacodynamic lymphocyte terms we etrasimod as XX% of with observed which mean limited absolute the VTXXXX from weeks therapy ozanimod, in response which Among therapy, baseline patients is more completing followed the week to XX, by in XX%, achieved of had a lymphocyte open includes reduction in reduction is absolute and weeks blinded believe January

efficacy, profile multiple correlation the an well establishing landscape and as characterized the sclerosis, colitis, multiple efficacy as modulators XX% measured SXP and by both a absolute that of ulcerative of as lymphocyte the positive in in ALC safety believe the reductions clinical effect there As live consistent sclerosis between we range. is clear and SXP across to we modulators count in extensively benefits, with XX% the pharmacodynamic

been multiple explored adequately in part Although achievable not ulcerative extensively these reduction upper colitis. safe, the the ALC sclerosis trials, to-date has studied in exploration of of

absolute lymphocyte dose Our Phase XX% higher dose or whereas XXmg expected in our in XX% range. to than achieve the trial to is achieve effect X explore to UC hypothesis pharmacodynamic somewhat ozanimod, with XXmg this class similar to in our best expected a and is to etrasimod reductions designed

label efficacy with the optimistic our reduction early to XX% ALC are an translate ALC reduction And in colitis. data in we showing XXmg we dosing and believe target, from with may profile open magnitude we right our on targeting dose, are strategy a extension look of that the this baseline tracking at in mean ulcerative best class

in excited very this are and VTXXXX trial. we continue we make great to So the enrolling progress about potential of

range VTXXXX, track in similar forward planning of other Phase of prior our year. begun for to and And X wrap the studies by reporting results a guidance, half well are on have top second we enrollment the look VTXXXX. wide We with line in up line with we to enabling the midyear to

Next, I'll inhibitor portfolio. briefly discuss our NLRPX

we've today the VTXXXXX a rare peripheral caused in mechanism function pleased gene. autoinflammatory associated As X to announce or group mentioned, mutations Phase that cryopyrin a a our of in trial CAPS, Raju NRLPX syndrome initiated we're gain of of periodic inhibitor of proof NLRPX conditions by

common familial population already for This is a Specifically, NLRPX defined mutations CAPS. been for subpopulation proof the to that have an know we're opportunity proven gene, patients efficiently VTXXXXX where us demonstrate with the most targeting and IL-Xβ patient or FACS, syndrome clinical autoinflammatory which of we cold of effective. antibodies trial represents in mechanism with the

a of conditions NLRPX-induced NLRPX and that cardiovascular chronic continue Longer rheumatologic see range great inflammatory IL-Xβ, various production including by we in are characterized for potential dermatologic, of term, systemic diseases. to inhibition excess

on a Phase VTXXXXX, Finally, to NRLPX of inhibitor, CNS-penetrant first we the X our during initiate trial of remain year. track half this novel

target of in VTXXXXX healthy We characterize CNS safety will bioavailability and volunteers. the expect engagement this trial

we lateral a among of other. class could very As VTXXXXX about R&D include a and highlighted therapeutic of we disease, day, we inflammatory leading Parkinson's disease months. medical in These for it sclerosis profile high and a advancing the range end upcoming need. excited define as clinic this believe conditions neural Alzheimer's amyotrophic VTXXXXX our the to program, look forward with the We're may that into at

very pipeline meaningful five underway, across the trials later for progress our This great and make this and X with to we generating now data Phase today. forward pipeline we look continue year. beginning II update concludes VTXXXX In clinical to summary, VTXXXX for Phase

without of want None dedication team so Ventyx this of diligence to team, the thank Raju’s happens a and and echo I for whole great their sentiments efforts. ongoing for and our deal

we financial results. Marty our to a Before hand Q&A, to Marty. like move call I'd brief Auster for back of to discussion the

Marty Auster

Bill. Yes, thanks

testing, X ulcerative find advancement for expenses VTXXXXX activities were the $XX.X of Phase press our for in You'll the and year in for Crohn’s and year ended in XX, well This Phase $XX.X to the psoriasis stages just and arthritis. later and disease December year summarize execution in full preparation ongoing full VTXXXX pipeline of psoriatic in million of our release, the the for colitis quarter ended as of financial the R&D the clinical results as reflects fourth here trial year I'll XXXX, XXXX. start-up into our X compared million increase results now. including

compared for Net $X.X the G&A ending expenses in compared to grew to reflecting corporate XXXX. $XXX.X the our the infrastructure. million XXXX year December XXXX, was XX, for buildup in $XX.X in million to ended million of $XX.X million XXXX year loss

equivalents “At-the-market” in Cash, year, and as proceeds $XXX.X raised in the were our end million. program, of XX, to securities balance $XX.X Subsequent of marketable December adjusted ATM through total or cash in net equivalents early $XXX and million cash of cash resulting million we the XXXX. XXXX

future Phase our continue to increase ongoing expenses increased of As VTXXXX call, clinical for we XXXX the and VTXXXX, we’ll rest activities the well pipeline. prepare for throughout X last spoke function we our five operating our of expect as trials VTXXXX trials the VTXXXXX, as associated on costs X quarterly be to with with as CMC to and company a VTXXXX, our undertaking Phase which

are cash, in operating sufficient into marketable experience to trend of we cash to While the general higher results, year, plant and securities equivalents over likely our and support may current some will quarter-to-quarter our believe operations the be plant we variability continue the XXXX. course –

afternoon's call Operator? turn and the begin I'll our to now our session, there the be Q-and-A by operator This I'll call, to joined back and the Raju Bill. for concludes prepared and remarks

Operator

first from [Operator Our with Thank Michael you, sir. Instructions] question come Yee will Jefferies.

open. line is Your

Michael Yee

how question. two second Hello! for TYKX for what generation views what part better the psoriasis, guess and a second much show I'm positive data for better I some your question but psoriasis we saw implication was Thanks first Bill interested a recently I in from the when data some had a in is generation TYKX; about you your generation. question, the can as as had maybe. that data

psoriasis just now your is So maybe data what for talk your about expectation we saw.

and therefore that what that what we’ll would through would be then higher well? based Thank mean in out and you Crohn's for doses that expect some needing that And of disease, as you you. on versatile, secondly, maybe

Raju Mohan

Bill. Yeah,

Bill Sandborn

TYKX of reported, we PASI-XX, XXX I IC of greater the intensive for next with the was were higher XX to the we VTXXXX, robust premise saw data a what and generally way sort coverage Xmg generation product, was the so with where and thinking, fits day think with our what that that Beginning the dose, to dose coverage was X believe deucravacitinib XX rates is and studies target next seen once lead that really more the generation in Phase that with it will that and greater inhibitor of efficacy. of more our

PASI-XXX saw that over range, XX with in forward encouraging have know hour to reiterate, coverage coverage bit or of dose hours. the think of I you IC-XX greatest we've six the doses product you or a level little that the that complete got that taken of it's five the will IC-XX substantial just higher and

same relationship IL-XX that that ulcerative psoriasis. XX For be is doses know to the at of doses as is you need XXX gave between are from that efficacy great disease the as are in would and antibiodies Crohn's required in and true disease, Crohn's of see inhibition we TYKX the rates what PASI-XX, and that antibody what colitis, maximal least

XX generate even the expect Crohn's or six to demonstrate of with be a but And doses efficacy day twice of once so doses and harder not I day level would that far studied IC-XX in we'll disease, investigational any a will so deucravacitinib, coverage, would it see.

Michael Yee

Thank you.

Operator

you. Thank

from Sandler. come will Yasmeen question Piper next Our Rahimi with

Your line is open.

Yasmeen Rahimi

I team, in congrats guess to all on the question afternoon, Mike and great on following updates. Good that the to regard had data. the competitor

question lot reductions asking in plateauing the of of a to programs that the effect XXmg observed is a identical. are dose at the was and were recall you regards XXmg us their group, PASI as that One clients with very

have the in being the you there's your not the with must – there. are And what it of there a there know a the raised, comments doses plateau. been between question differences of just I or so any IC-XX and why on with, molecule you're forward function just something going really reaching coverage how was that given and we is that appreciate do greatly XXmg XXmg moving that plateau,

could and be or then more if for then the back of and maybe on Dr. And in enrollment XQ maybe data could is for a in for Sandborn, later queue how little just whether for right give XQ color going in Thanks. bit comment early to, to the regards into terms follow-up. progressing us you extent on to the into it's maybe jump a SERENITY you I'll

Raju Mohan

is this Raju. Yes, thanks. Yes,

the discussions exposure a a doses, XXmg last plateauing Bill's sensitive XXmg small you specific this But and real, on aspect lot coverage. focus more are There's for should of real one benefit there's trials. these the to week be focus think amongst of it. that's variability you of So folks. just know and with the following you effect to And these endpoints the see dose, a clearly the I higher lot where up answer know Mike, on on

You well, drug you for expect NIMBUS it our Takeda the right. as see and it that we for for Deucrava, compound see

right, is all So XX% should XX% that efficacy Phase Crohn's trials PASI-XX PASI-XX, all targeting, XX% totality from this of XX psoriatic our the biologic-like are only about on overall you disease of in in IL-XX arthritis. X about on can home, can about the we for X achieve Phase I we and to in and we but give coverage show for we biologics targeting we're efficacy take biologic-like psoriasis, PASI-XXX. That's and profile on not XX% biologic-like data coverage, that as think the psoriasis, and our trials;

difficult. cross will the endpoints drugs But PASI-XX and you targeting. really are So higher trial higher have and the that's are get endpoints with like efficacy we really see focus what you IL-XX, comparisons on sensitive and coverage more XXX, that as in to differentiation

update Bill, why the don’t enrollment. on you

Bill Sandborn

mean this we're too – details line quarter. or mid much think you fourth on enrollment, it's to we'll say year, to see, have the and but of circumspect quarter top I in Yes, data fourth comfortable the in very except you whether committing know I'm or the data know quarter in that I'm I fourth about we'll confident early providing

Yasmeen Rahimi

keep so you amazing much, and the Thank up work.

Raju Mohan

Yas. you, Thank

Operator

you. Thank

will question Morgan from Harrison next come with Stanley. Matthew Our

open. line Your is

Unidentified Analyst

[ph] Hi! taking my This for for Thanks question. is Matthew. Pete

on of concept, ask So about you. see to the expect Phase we the should to the the I should what about started want CAPS. in we X think Thank and VTXXXXX, has trial data? How just proof

Raju Mohan

Bill? Yeah,

Bill Sandborn

a improvement a There scoring systems include direct allow know on measures, comparisons we’re you Phase the with symptomatic data They'll context biologic. those. variety X measure anakinra, Phase of biologic, not expecting various the in patients and and which canakinumab. which the to Yeah, will treating you symptoms validated arthritis. in validated and they trial stopped include rash, they so agents, The be relatively a that rilonacept of have which will know, prior symptom as are can see and the biologic with CAPS have so be to fever, them X should

Unidentified Analyst

Got you. you. Thank

Operator

Thank you.

will Jones next come Oppenheimer. Our with from Jeff question

open. is line Your

Jeff Jones

for over I'll slide and to Good I taking afternoon, guys, XXX the thanks guess question. the program.

of positioning Etrasimod program. data study that this author. year the how first underway, but that help Any impacts program for how X? With well your positioning ready and and thinking your and thoughts data about Phase study he Bill, two is year's course Obviously of you the now published, on that does was getting

Bill Sandborn

received what and lower their both achieved had X Phase that they – XX% each XX% a with so ozanimod XX%, the response reduction from linear etrasimod XX% reduction. reduction the sort programs that that to resulted you XX% drug with baseline Yeah, a ALC and XX% in dose is roughly in you from and reduction saw XX% higher see to ALC, a to of dose from dose in the

then explored you drugs – sclerosis, with ozanimod higher with across XX% range different Phase sort across multiple look of reduction. approved in on doses the ALC XX% with on explored range ALC X Gilenya up four If side analogously and or all of ALC for XX% they in reduction Phase XX% to of the X to in a the sclerosis the reduction. XX% there's trials SXP, in they to know Phase X, way different from And low multiple XX% of you side

measure remission sclerosis, sclerosis. colitis ulcerative on endoscopy a annualized rate, these, of mid and reduction reduction multiple brain a TX with multiple at reduction you And look enhancing lymphocyte to all in clinical MRI [inaudible] low lesion or across across in whether clinical of relapse

clinical ALC until And measures you to other. of lymphocyte or relationships plateau you sclerosis measures effects the least in outcome degree low between hand the multiple at outcome You in see, XX% at one of sort up least probably linear reduction structural don't get XX’s. on really those reduction and the on

could of logical seen what's was primary of seen think will the looking intermediate but range really XX% and to what be what's add between to the that sclerosis that reduction So you given important especially placebo to the and multiple XX% is delta load most been that the etrasimod, with the and the efficacy measures, we been very you so a multiple think we critically with drug plus linear we're between reduction that lymphocyte existing endpoint the safer above going meaningful, know, a in outcome think XX%, if it's becomes role you unexplored believe that is about is XX% it's colitis efficacy drugs, difference about ulcerative sclerosis, and seen colitis, XX% reduction, for with therapy. magnitude across really clinical for very remission something and ulcerative relationship and logical plus so

Jeff Jones

that scenario. appreciate queue. I to it fairly about into and the I'll No, thinking guys. you're Great! color TYKX back the analogous sounds way jump the Thanks,

Raju Mohan

Thanks Jeff.

Operator

you. Thank

Chris Our from next Goldman question will come with Shibutani Sachs.

open. is line Your

Chris Shibutani

approach afternoon. much. very and context from on tolerability overall the the If profile data not that some I Good but of the as could you more we efficacy, with return competitor meeting, but XXX Thank it the AAD well. of to maybe saw question

particular Looking in see that in learned. to Phase you might In the how see we you thinking some the in any that potential are ongoing CPK way the of that X how something you elevation, potentially relative about studies. of of terms view information

what's there's to the program to about Thank the still the Is X tweaks happening, potential And new modifications we for a that? different that I you. are and sort designs? programs competitive of have to data make visibility you theoretically potential to indications. any set now your thinking related on for believe Phase of that, How across you there

Raju Mohan

[inaudible] take about I’ll the have latest Yeah, data. safety disclosed the that have been endpoints Bill and the numbers I’ll talk latter of questions, with some

biologic-like with coverage, programs three top disease and for levels really with the at ICXX Crohn’s targeted indications psoriatic carefully we've we shared We've a and across said, done then the arthritis. psoriatic the have strong dose three And three of regiments all X trials, the across trough belief So the in all we dose there. – and with strategy or design dose our as trials we've we're Phase the way approached all of very broad very cohorts. targeting

specific the we has none our of seen on the it's out, come line now data recently that the clear impact data of So a or whether too. data any have lymphocyte you've sight to strategy, but

I are nothing Bill’s adjusted with of that target to and for really these trials needs coverage our or trials. be coverage, And tuned in execution discussions aiming said belief here well, As you our focused biologic-like we're biological-like these across previous on as before, articulators Chis in we know. laser efficacy

Let back question on CPK and me get to your Bill about tolerability.

Bill Sandborn

mean had to four if I Yeah, is Deucravacitinib and were FDA of about grade you know from Deucravacitinib Xmg CPK, X% X.X% elevations relatively website. available walk this, had what's patients with you what back there the It's for a CPK similar between of the approval, that information, prescribing low and basis grade with percentage. About three. summary dose the

that the all different selective are with Upatacitanib. JAK to either very cater from numbers pan-JAK of data, seen you I X what like and with like was see inhibitors Tofacitinib think these inhibitors or

are regulators give these so with are believe think in labels, are point that low with alisteric consistent zone of tolerability. emerging view that being really clean will highly from rates different and way we clean selective warnings, and inhibitors from already seen my consistent rates consistent that willingness data inhibitors right box are those they so still safety be our to data thinking, that not product additional TYKX just JAK black events for of low are the of but labeled, we've So of a just a our to and I label,

Chris Shibutani

you. Thank

Raju Mohan

Thanks Chris.

Operator

Slutsky And LifeSci Instructions]. come Sam question next [Operator from of Capital. will our you. Thank

Your open. line is

Unidentified Analyst

Sam. Hey, taking questions. guys! Thanks Romney This for our is on for

detail go level of in the First, see and level the clinical guess inhibitors, NPK anything you else of data anticipate reductions XXX? NLRPX release can could look is I what we out you the order or should Is indications regarding there extended to it formulation remind benefit the IL-Xβ secondly, looking across for? us do IL-XX with And for range of for what you after? safety primarily update providing midyear you're then of

Raju Mohan

the will level me we the coverage how talk Bill for extended big of let NRLPX. for on expect Yeah, about release the cytokines take

So ER we've somewhere on that in the midyear or meaningful we're frame data the at a update time quite about. tablet, talked the pretty midyear

We've the data changes. is across we've as we've Bill phase. prototypes different a relevant – biorelevant Vitro showed what completed. in again Relevant relevant Human solution absorption in shown distribution showed And already data which or to also we've dynamic very the in showed So for happens Vitro model, data, said, GI that – GI the which from relevant

these Under studies. QD so we issues. regiment. We’ll expect Phase, longer really you any the ICXX are that profile safety in short done safety, can obviously We’ve with coverage says studies comprehensive achieve don't a MAD the show

in timeframe. So that's the what you will midyear see

Bill Sandborn

Now related to the NLRPX inhibitors.

recall you If XXXX the the shared NLRPX with Phase R&D at we Day translational medicine X that data inhibitors.

to LPS/ATP did during vivo So at dose portion we blood the production. IL-Xβ you block the whole ability peripheral of at then look trial, compound ascending give the the a and the multiple ex stimulation assay day where XX,

efficacy MAD doses higher antibodies read-throughs, – an excess completely really looking were see and aggregate is we're where the in in an to we doses effects for Xβ then were higher of IL-Xβ that production, and can resulting and And that XXXmg, what have – disease the diseases leads clinical you alteration that in our you XXXmg monochrome able to treating you where and in against excess that NLRPX clinical improvement. in are have IL-Xβ the

clinic. function aggregate will by So very with of we to and the we, patients into translates to treated we doses that earlier, mutation we this. NLRPX, high that's trial for treating better. gain get the see point know what that CAPS production abrogation with X higher currently are instance in characterized to of those with as need and And is MAD IL-Xβ show antibodies, of levels I IL-Xβ mentioned the and those the complete saw that Phase the We

shown diseases you studies disease, showed think other you data definitely acute have trials shown effective. things that confidence randomized are that. of antibodies that that could that, got of pericarditis, IL-Xβ Adult-onset there have Having juvenile would This then to Still's where a were that variety arthritis, some recurrent achieved could be controlled like

events MACE of and patients prevention history the MI. secondary of for prior it seen You've with

in translational of know IL-Xβ expression have that suppurativa. of of Hidradenitis there's We studies patients high rates shown biopsies with medicine

of an variety driven go that inhibitor a there's logically treats NLRPX IL-Xβ your So small you've molecule disease. places one once could that shown

Unidentified Analyst

Got it. Thanks so much.

Operator

Thank you.

Our next Wainwright from Bodnar question come will Co. & H.C. with Emily

open. is line Your

Emily Bodnar

Hi [inaudible] if I you your study? X the to there. as see thoughts acne Phase VTXXXX, X, is maybe really questions. the there! for there but this was NIMBUS so about hear back some it you to you didn't of your without I going molecule infections. viral see Thanks and it talk Phase in for guess signals taking expect Could in know well, to safety

if could just give then mechanisms Thanks. getting IL-XX, psoriasis general data, lot so you your positive how perspective also think oral And market sets. recent of a agent on two oral new the the and curious in that IL-XX we're the like now maybe an you showing

Raju Mohan

a great Yeah, of number questions Emily.

let's So I’ll just and jump if needed here. in one have one by take Bill them

clear So are and you've compound, very the do with been side with on this first, [inaudible], not and believe seen that so the categorically on now target. that these – effect seen made we dermatologic the we NIMBUS it's

effects. and It effects, IL-XX is manifest the manifest should should is no pathway proliferates dermatological these other there the So TYKX reason or and that targeting. acne mechanistically that TYKX

in where effects So, these in this done XX trials before, a magnitude very of these Phase of kind ran and trials. we you pointed that day timeframe elicited have were X as sort out, effects, similar of early the study folks

are and these NIMBUS target think compound both, we off for deucravacitinib. for the So

these. these targets ideas happening, potentially effects. expect other driven, some what perspective, don't may be and picture hitting that about so not But target. are off are and speculations our in They we from involved are see they to side have We

our conclusion VTXXXX. compound, relevant most the that's for think I

other The about about was – the ahead. question go –

Bill Sandborn

seem and an not COVID, treatment treatment sure viral the make infection to the Yeah, be dependent with [inaudible] really between there a groups, and and as interfere did the patients don't see was quite it to alpha specifically that – and We I'm what and although lupus imbalance that. on antibody, very recall. I and placebo of wasn't I dose so

circumstance infection. and understood none pandemic the as sort AAD and its at study the it presentor was died I of at the the the or the As run of so from ill seriously unique noted, were height patients a COVID

So this I to complete alpha with antibody know inhibition of I'm coverage that and Tremfya, target such say anti-interfere with there's to look that, either to or what signal too high IL-XX/XX except premature inhibition at no – Lupus, is sure you make doses with etc. an issue, antibody with when at not very think with a know it’s little important not really an what to Stelara Skyrizi, with IL-XX you

go it’s will time further, think sort to of fluke not the of likely tell. be I but and pandemic a So

with seen And the was That indications multiple really of the also really seen overlapping in this getting across doses. wasn't Phase way meaningful to to in numbers note been any Phase to Phase that Takeda trials hasn't the study. X in that X Takeda up doses Deucravacitinib, that degree the at with seen the X COVID and some are

And for so terms and TYK of I – XX the in targets. coverage IC-XX

safety that fullness but the in will of be issue won't time guess to that, tell. going time I'm So replicated,

Raju Mohan

oral the So L-XX and back oral to IL-XX. newer

let’s just take first. oral So IL-XX

had there PASI-XX. subsequently no So about are that PASI-XX, talk drugs and biologic-like we was with discussion IL-XX, and effects can so can relevant that a are better to absolutely oral where that look, think an there. PASI-XXX talking put drug, with have it's do, PASI-XX, more we just about achieve about the we see we to this discussion rest today possibilities I we if I’ll don't to discussions we coverage coverage a when

you're and have come assuming the haven't this just that PR that discussion very latter Janssen the can it's to data today hard having see of the expect on came the we compared and oral out, generic that we're we with to speculate – of compound I'm In referring in half to a has seen we and to of terms IL-XX to very PR, like speculate protagonist year, on PR certainly out. data is hard some

across I’d that's seen range But I lack a that, more we about we haven't data and indications, and talk to perspectives like broad I of broadly. on Bill. that newer autoimmune us the because can discuss approach, XXX have, we in of Bill’s more these oral of some with think important opportunities IL-XX context hear for of and opportunity Today think perhaps a that with our to

Bill Sandborn

– said, Raju dose see, looked to to need the the unlock in earlier, as inflammatory that really optimally as antibody market, bowel have So mentioned to IL-XX mimic we’ll what you psoriasis. like I need data But you disease psoriasis. really doses in

doses bit the would XX% are and than of doses IBD PASI-XX often XX% to PASI-XXX’s, you and give So sort XX% that XX% XX% to higher up a that. or to XX% or and XX% PASI-XX’s

is of of reasons. a Part that couple

think are be antibodies to antagonists I know You the peptide and same. going

settings basically this binding the administered have different is lost stool that in intravenously give well and drug and different secreted described colitis already for instance the of target clearance. in disease. And cytokine and You're severe you excrete then and you is Crohn's given gut, can amounts Remicade parenterally can mediated differences in disease can cytokine in

of need IBD know antibody more for why you than optimal you reasons need are So, psoriasis. those for dose you the

the the antagonists with start parenteral IL-XX will to that zone go than to you expect So have need further agents antibodies would even get for that peptide into IBD. and you of if that like efficacy youshow efficacy, can to that I

that to two disease. with in secretion to of and the you're clearance, treat you ulcerative as they in X demonstrate think that's ICXX really planning to should eliminating ongoing contrast what Phase and expect get with, you the and the and are inhibitors you begin target wouldn't acting cytokines trial cellular able have so I same we're disease mediated intra to Crohn’s Crohn's coverage, be colitis effectively By our

Operator

you. Thank

Alex with Thompson will Our last Stifel. question from come

open. is Your line

Unidentified Analyst

Alex. [ph] is This guys! Hey Pat for

question Just program. IL-X on alpha receptor a quick

from could out mechanism guys benchmarks at? taking talk of about you maybe DP proof and If you what of a Thanks. there that guys biological there just are look are kind

Raju Mohan

truly about excited [ph]. But know, you pathway first as dupixent an that's agent oral similar

from You saw COPD the the trials. this morning data

super exciting to its us in that for pathway. be So

we at how showed approach to really target the to way R&D and mechanistically data antagonist. our we're on We that early feel to exciting comfortable the day

you that it, perhaps beyond and think share I know just the some into more wait to year. for tuned data stay we'll

pretty proof candidates, We’re progressing concept proof validated. towards relevant against studies and showing [inaudible], our of – benchmarked we’re animal in of including

a all and mechanism what data, molecule. efficacy is our of some and this showing initially more track then and think XX, I going approach for four case to this So targeting similar proof differentiation certainly drugs. then mechanistic importantly but with it's we've the you clear, to goal is and done In like know be targeting defects

Unidentified Analyst

Thank you.

Operator

would this the back over Mohan floor additional closing to turn or Thank I so no Raju questions for to at further you. remarks. There are like Dr. time,

Raju Mohan

R&D because Yes, you that you dialogue all. we for discuss we Thank this molecules; programs. another and to listening very we'd love we're questions. Thank the about some almost understand obviously Thank to It thank great our We for like passionate you, need participating. day here, us. were you with understand seems differentiation you.

again the all and you I forward to thank look next discussion. So

Operator

Thank you Ventyx ladies year This fourth at Please lines today's and quarter XXXX and call. and earnings conference gentlemen. concludes day! time wonderful a Biosciences your disconnect full this have

Ventyx Biosciences (VTYX) 24 Mar 232022 Q4 Earnings call transcript