Earnings call transcript Q1 2023

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Ventyx Biosciences First Quarter 2023 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 Please go ahead.

Marty Auster

first Angela. And good you, and business where discussing update. Thank providing results Biosciences you today. us webcast, our be will joining for we XXXX afternoon. a call financial and everyone conference Thank quarter Welcome Ventyx’s to

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

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

first risks including expressed in Form uncertainties are could to by results These statements could materially Factors and actual forward-looking that such results implied are those cause the from in with to or differ periodic cause XX-Q outcomes that XX, differ. SEC, which ended which and/or statements reports filing discussed for filed most to our later today. March subject detail greater the XXXX quarter anticipate our we actual

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

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

Raju Mohan

Thanks, Marty. Yes.

financial all to conference call. XXXX results good for So quarter again and Ventyx's you first joining thank afternoon

update. level programs our detail. briefly comments Medical then our afternoon's President and brief on bit keep high Bill in Chief that run updates had my and through agenda. Officer focused I'll pipeline call across just in me March, Sandborn, this business our given a we And late will be Let provide more

will Finally before financial overview call we our quarter XXXX Marty first for present Q&A. open results an the of

As I by a remind mission for effective foundation and XXXX large injectable differentiated markets immunology With our great safe to oral bring We're Ventyx to the like transformational of is to start. medicines year biologics. and are audience, medical and unmet a be off with our dominated currently to always to shaping up markets need authentics. high

and repeat clinical Our team internally owned is five a candidates. across with two trials five now molecule phase our executing wholly discovered ongoing across board the of small drug pipeline

with we are confident VTX-XXX, developing best TYKX in we a class remain that allosteric So potential inhibitor.

target potential only class one a be IL-XX psoriasis first will be and achieve profile important. not to believe mover a among coverage ability in psoriatic and in leading differentiated Based see to safety inhibitors we particularly IC-XX on observed disease, where trough phase great our in but Crohn's coverage we we that arthritis, establish to TYKX also

psoriatic arthritis, psoriasis, Crohn's detail will We more these have discuss and in in comments section black now his underway And trials three disease. two his in phase Bill during

to release have the optimized we progress in three will development daily trials we continue advance target XXXX. to XXX QD the phase that towards to confident the for an tablet of into remain profile On and dosing extended make once we tablet TPP

formulations evaluate disclosed multiple strategy us discussed prototype to path As our in that sequentially we for an and previously this humans. process iterative have incorporates allows development

clear, colitis. first will With full as And our very be is are to the been you mechanism market we SXPX for and which in biologics. differentiated of providing early we across and to patients, see unambiguously potential colitis demonstrate asset the that We more both of look forward to early truly to have efficacy, opposed what's this patients, VTX-XX, believe from explore detailed to achieved update second by to always half the ulcerative severe in of is ulcerative a the moderate this part with our levels modulator aspiration superior XXXX. competitive

This efficacy potential the trial. color should as will achieved, profile, oral safe position class a of agent bill provide colitis. And more this VTXXXX in ulcerative if on leading again, progress

VTXXXXX, NLRPX this which these portfolio, Beyond to continue in NLRPX Phase is into and programs, expected and peripheral in to caps VTXXXXX, our NLRPX novel two CNS a our trials patients phase studies One quarter. inhibitor which in advanced is lead advance we now penetrant. inhibitor including inhibitor

that, the with pipeline Sandborn I'll update, detailed more a for hand Bill So call to over Bill?

Bill Sandborn

provide And Thank recent a to to portfolio. pipeline everyone. brief I'll highlight with afternoon, VTXXXX. Raju. and today good across excited achievements begin I'm our update you,

in and As disease, you aware, the the now including trial moderately and severe active severely of VTX-XXX, and well active serenity to underway two all trials three trial then are psoriatic plaque psoriasis, we Crohn's are to with phase moderate arthritis. tranquillity harmony trial

this of Across with and trials we the near will achieve approximate to of expected the the suppression pathways IC-XX to three first of interleukin-XX. full dose coverage the top trough explore we believe program, interleukin-XX TYKX be and each

differentiated the into And IL-XX to with observed are this interleukin-XX closer we really towards translate antibodies. that like So we pushing pathway. biologic efficacy to anti of the suppression expect

but competitors. continue expectation a therapy, for relative oral in in we therapeutic us arthritis, our and safe window and a leading class may also believe unmet psoriasis see psoriatic plaque strong to not need and where is position where effective This to afford disease tremendous our Crohn's only a we

psoriasis Looking billion excited to continue legacy projected well to gain more within opportunity molecules biologic therapies, as we expansion commercial drive the population the small psoriasis as delivered market, both of market for XXXX XX about the orally at versus share market. to treated remain very global the closely

first approved for and biologics strong gains oral particularly less TYKX the to the TYKX inhibitor signs inhibitor TYKX of uptake share and relative options. are of with for the the effective strong indications We optimistic both potential so class early of early point

We coming the years. coming expect opportunity to TYKX market therapeutics to that and expand continue year inhibitors, for in oral the specifically and

TYKX target With inhibition projected efficacy we the a the class. the think market and of for which will potential TYKX drive an share be within profile, enhanced total potential strong to determinant greater for

team Raju an As the phase in the psoriasis getting we've the has excellent plaque past and made months serenity job and mentioned over trial. done up enrolling running the program tremendous progress VTXXXX six two

to we've As line track report in data quarter. the are we previously, top fourth stated on

And the expect from top to and Crohn's forward both these other the trials trial continue line in looking VTX-XXX. trials in phase into this the we arthritis of carrying to We’re results two momentum trial and including disease. Tranquillity psoriatic operational And XXXX. Harmony

VTXXXX phase modulator SXPX our to colitis. in Shifting ulcerative for development receptor two

that is story he when be first target where think talk similar is put to I the well of and the we the goal ulcerative truly explore to achieving the colitis. Raju mechanism to pathway. this it here with of This the full said about potential coverage VTX-XXX, differentiated

will into efficacy believe reductions absolute is plus or You a From transfer, dose that percent our demonstrating lymphocyte in to extension previously that achieving of state for translate compared XX data ulcerative trial improved and we approximately in effect count XX% will the label colitis. concentration and symposia, this face mod open of milligrams steady that to pharmacodynamic we differentiated range XX shared recall our high

anti back a colitis, and or opportunity alphas, fully will step seven is And Based market look on the adjusted integrin, robustly, can an lot TNF on, take so landscape a this he class a this clinical and by oral for efficacy exceed to grow significant the as which currently we we characteristic, a at physicians, ulcerative around suppose higher. a by achieved our the with SXPX this And if remission safe slightly is and expect rates continues XX% build inhibitors, the all four biologics, volume. beta of large therapy there alpha conversations placebo dominated that share benchmark. just

drug continued ulcerative two progress well. Meanwhile, class better become [indiscernible] a in we remission colitis. profile our to the product the this approval as which Or can has VTXXXX If is in of enrollment around release, to expected target And VTXXXX, XX%. for potential phase adjusted than opportunity is placebo we of very with press achieve clinical believe mentioned we there's leading of an trial later VTXXXX the in year.

program. So we're about this excited

And the second primary in line a endpoint, of week half XX report to based we data on top are on XXXX. track

one the syndrome penetrant cold compound syndrome trial or healthy to our familial initiate FCAS, quarter. of common Finally, this of CAPS. a touch our a I'll we expect VTXXXXX of novel call, most our syndrome, volunteers have NLRPX which phase CNS With proof briefly periodic autoinflammatory is and concept VTX peripheral we earnings last inhibitor our of portfolio on oral that inhibitors. we study phase two On NLRPX XXXX initiated or announced on cryopyrin-associated subpopulation

profile CNS inhibitors position pharmacokinetic goal both phase inhibitor is both terms clinical NLRPX by our as molecule two and a We of NLRPX Our ready to future differentiated activity. peripheral penetrant high range of candidates a and value in there pharmacodynamic believe that is for indications wide development safety of these of establishing VTXXXXX. VTXXXXX, our

inhibition mechanism peripheral CNS. Alzheimer's strong such and to such among Parkinson's neurodegenerative devastating the in and On disease, rheumatologic biologic to include a side There's the others. diseases rationale indications address cardiovascular, potentially as With regard diseases. NLRPX disease, dermatologic

very our in portfolio been molecules. exciting the strong Ventyx. VTXooX and small is this In And the of And we're half to VTXXXX very across has line top much second looking announcing forward data this summary, pipeline. a period for of Execution novel for year.

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

Marty Auster

Thank Bill. you,

trial those And financial for quarter R&D the advancement Crohn's believe two our This filing for million later and the the ongoing phase our XX testing, including in first colitis XX.X two quarter release from of VTX-XXX for details stages first summarize of website. psoriasis, ulcerative in of and also quarter the XXXX, and find million pipeline of XXXX. in and disease were here. on the increase XX-Q I'll and is hit reflects compared You'll XX.X press phase execution first of clinical March results to expenses the VTXXX programs psoriatic the the our results and the in of arthritis.

CMC potential trials we expenses our phase quarter-over-quarter we two directionally progress the as as XXXX. our launch in XXXX some variability conduct and we preparation mentioned, phase previously R&D for continue As XXX, expected to with to three throughout of XXX expect and activities trials increase

the of million ATM quarter expenses of March quarter increase first the XX.X our in end and XX. are balance proceeds on reflects first million, X.X net XXXX. QX sufficient and year versus our of Cash, million our in the million of facility, for was XXXX from the quarter from that 'XX. marketable fund. occurred first operations XXX.X and totaled support loss first an XX.X continue into of during were cash which And as G&A the reflects by cash equivalents equivalents million and believe securities current equivalents to quarter million in marketable the cash plant quarter to And of our This sale securities in offset we X.X compared XXXX. XXX.X to of cash stock

With be Bill. joined by I'll prepared to the that, back we our Angela this session for begin the Raju afternoon's to and turn call. I'll remarks over Operator? Q&A conclude mic where

Operator

The Yee questions. Our with [Operator is go Michael floor Jefferies. open now is Please coming question for first Instructions] ahead. from

Michael Yee

studies read understand a the technology And Thanks expect other Can later how have the of recently, thanks to study? on have of very in areas some out the studies There place? low what no And to the wanted in at just the your second you in I've Can different had know data you up had the like on is also was testing UC SXPX. things recent two is you you this versus the you. that tRNA I Or Are the some have us first just read We guys, then about placebo. then what technologies you actually some that coming studies had question been your placebo? that you for we and months? course, you couple for what for upcoming help question. different In XXX. past think multiple placebo, ask the that strategies have of doses? year. And the I've out remind to on Hey, Thank us? ER that? tablet have update one updates. an

Raju Mohan

you. Excellent. from Thanks, hear good Mike, to

tablet. Bill, have SXPX trials come and Let me ER back I'll and placebo then and about with talk the

Bill Sandborn

Yes.

good a it's So question, Mike.

I that controlled think placebo not to interpret. arms are trials without easy that not are

X.X% to moderate so And low severe X% average can ulcerative trials with as have the control we way high can the just monitor sometimes trial. or characteristics this to and and the that take you salt. It More manage do are data that the patients about or you as X% the of it a less, is the disease into be colitis coming good try for low to trial is X%. teens. Placebo those vary of rate grain be placebo keep the to as as or can rates of And robustly.

get carefully a of and aware details those to as sort also barely data of to the the it's that pooled blinded into of monitor robust trial and has any if all crossing is, outcomes monitored response. things, you're a can magnitude and the just the to deep You response or threshold be response a say characteristics, whether it progressed. of to we're around I'm the seeing see not going the very we've except well

Raju Mohan

Mike? Good. Anything that on else

Michael Yee

ER, Very technologies? helpful. that. going on? light some I on then tablet, the They're shed on Different helpful. What's And

Raju Mohan

Yes.

a for thanks asking to that. good it's question. clarify And So

we we different a that are of have But it's to have technologies. So of complementary couple understand these sort important technologies.

with dynamics, we absorption, we're using going is what in that sort we the the in actually phase what's absorption. And in the absorption is of of one complement technology dissolution methods, simulates what technology sure happen, happens actually motility this make bio dissolution humans. happening we viral relevant actually which So to then on to do what's the, use a

checking are So lack appropriate most of we're for make multiple sort checking box sure a technologies. you boxes using in really better for to technologies of, the

we in chance what your go actually sure now you you what system happens target for sort see maximize you've all made three. both human that our when and dissolution salts a phase solution path bile each iteration factors So absorption we're of rate take acuity and in towards of into of then where product distribution the simulated those with if terms terms in you've You've the of that's and and that, got, tablet doing data, you and that of fluids motility also dosing, profile or

Michael Yee

Thank you.

Raju Mohan

welcome. You're

Operator

Thank you.

Rahimi Sandler. from question Yasmeen next with comes Our Piper

Yasmeen Rahimi

So what I analysts afternoon Good to one much great questions very you all first take off IL-XX investors to I'll based would think we're on want a the question educate is, Maybe team as data to class from could data, as could at be the is regards differentiation? second what the for half, to product. perspective in able being safety maybe are of like, efficacy And the do for one data, peon. some and if readout data question know, on number bar or we're phase Dr. obviously, the to at that start we but from one tomorrow to on the updates. I jump guess out or into Sandborn familiar are the two you. looking then to the, most versus on the in And the thank that that you helpful number you and predict oral going love so class what is we'd be just IL-XX phase one. see see, one and us highlight about guys into could on morning, space what is offer, that look how guess, Two of of that's could and to, I back we the comparisons what queue. sort to the

Raju Mohan

the And me to again, let so from you. Yes, Yes. hear let good address me protagonist question.

the I at have last class, the that And and Again, to the is have more real we to seen data. I data the what And recently. PK/PD two similar illustrative the we the I by supposed a in be the come I some for itself out believe think And out think the come biologics compares the in how out July the that and meeting, in detailed efficacy this data going think data drugs might Phase So to call. had it we've phase meat orals But to question to with come timeframe. extent. be that's yes, ISID wait tomorrow, going to One followed sometime.

difficult on. we about no that on I really speculate came the press the release talked and it's to idea have early new you about something So have out

this think let's data. for I wait So

for at of to then And give PK/PD, SXPX more wait a let look for the hand color this none. we Let's the me it'll the we'll have just on over Bill on little class in us of have data question. and discussion And compounds. meaningful efficacy But this class a particular. it drugs

Bill Sandborn

Yes.

years Gilenya has when to just the multiple the there's since class approved in So Gilenya two reductions marketed their exactly United dose regulatory about for medications low frame doses. the and with of million our approval that SXPX higher XXXX, are sclerosis, a we where was targeting remember has perspective, and the of is of the in States which had patient for exposure lymphocyte XXs,

data So the drugs, of the well issues. will the from of in very safety for the we under a context of perspective with year, of stood we're be all that half the release the context safety to in second potential respect class

second say is The is we'll that, be weeks safety to releasing thing data. XX of

that's so time. of And limited the, period a

of say you in see, will it's tolerated, see you to that end a like that the or pick be digits. what trial, for a single I data effective, typically XX the you So for they early would are what it's, adverse rate big weeks events, what we'll specifically typically but not the look completion you drugs lot typical are well XX in anyway, see ticket are, important, if

of patients induction measure tolerability. course and safety therapy having is the one of complete, So

and at so and events those events and class Then, dosing reductions events relatedness regimens. a SXPX the have we'll can blocks. have titration the rate And of as then those see good patients the you're by regimen. judged adverse at be, sort can looking investigator, mitigated substantially and you adverse the we to And narrowly look all the with severe heart discontinuation course, compound of the adverse AB related have to of that of think that in things. flipside severe of dosing And titration we proportions

of which So sort those there seeing AB weeks and the and seeing interest of comparing things, by or titrated. are and be what with cases be may other any contrasting XX treatment is, products, if the those will block bradycardia of of and in may first group allow would rates not

that and to see generally SXPX with two phase likely The in rare study. you're other you drugs things not are see induction

Yasmeen Rahimi

Thank for comments. you so much Sandborn Dr. your

Operator

comes Derek Your go next Wells please from question Archila ahead. with Fargo,

Derek Archila

Hey, for questions. guys, thanks the taking

Just won't of we get a guess. class. couple Even the take first, for Maybe to see we for your IC-XX us. just a coverage. plateau why on I wanted TYKX at

to this coverage point folks XX policy week IC-XX drug to had which fairly cadence their XX Some for allegedly looking and data [indiscernible]. hours Pfizer similar [indiscernible] molecule

there. thoughts So versus then would the love remind And the get also many any therapies your it helpful. color split geographic SXPX would just for And of you in expect on have can be distribution sites? sites those also, just to you advanced us the you in how trial Thanks.

Raju Mohan

Yes. Derek analysis And, of some there. good question. seen that you've out

just particular, some people there. analysis it IC-XXs, the outside Bill again, have XXs the being In there there. have XXs I'll out with compound. or on we'll model coverage, terms let's get because done that out again. and of Pfizer taken have coverage of me in out put start and it little this, a bit So, But about we And let address talk

small challenging, [indiscernible] look, Let's done done. comparison focus of they for doses with And Takeda are the on the of folks data they've trial been right. what really analysis number but is some cross of the are been two

Pfizer dose to those to XX belief three the I there I to consistent examples, and IC-XX hours milligram is what IC-XX this out is there using within are our can the hours from the of leave is put that read disclosures with model the for Tac-XXX, think out XX coverage can the think and think, that's milligrams for I people you which I is out XX acidic IC-XX about various right. numbers data pretty XX is that

our phase our two with coverage psoriasis what is we IC-XX trough doses. particular in said Now going trial we've are and for top of into

going across efficacy said And see IC-XX to dose the are But then And aspiration, for going other significant as see data for And doses our with coverage cover behind we've and in we before are our in XX to read multiple right. doses in hours, across that readouts. differentiated fourth this we'll out the trial. quarter.

are IC-XX, and Right. So from differentiated about. efficacy IC-XX, we XX and now other talking that compounds

of seen maximum hope the here, that's from you've their right. So going efficacy differentiated show we with really what in to argument. coverage. We're And is crux

the before So add well. leads myopically Bill discussion he seen always this again, it's effect, people focused when more have wants to of that little sort I've let me are IC-XX. and plateauing analysis, as we've to And to particular yes, we in the seen analysis. on a this sort see this had But if of

Bill Sandborn

consistency Yes, antibody just for is is sometimes. like XXX. for outcome XX the interleukin dosing I would phase you two and with measures say have in sufficient that when dose, effect biologic And if, a a trends PASI-XX, trials, either what can see the you approximate optimal outliers of therapy to across the at

the two, XX the the full for sorry, instance, were the of [indiscernible] biologic you PASI in coverage. dose not. you or and would the in the phase the product, So, XX, PASI-XXX look PASI-XX, highest the see Takeda with at But if

pharmacodynamic So see at its with there's you from that plateauing a, there an different effects. with the is drug of does what inconsistency well a

doesn't just be like efficacy, PASI-XX, coverage, you shifts an efficacy make down, will eventually, because it you all that you to across with with see adequate reach XX and able target the of left So dose the antibodies, XXX. as sense wouldn't antibody

you consistency all dose, in unison. those have the measures, up, on enough up patience, shifting and across see you'll go you if And

think recruited. data, that on we through in show patients data we as exactly that move have of XXX. you the the probably and our the we'll a trial, Coming drug so XX, comment PASI-XX, I the but population, So detail have for dosed will the that well of relationships dose when won't have consistency the think just we we to expected characteristics UC range

typical a in this internationally standard pretty for We looks it like have number the sites of a quickly. international two phase conducted multiple countries, trial, we've substantial conducted industry. And relatively

failure. be you for And monitoring of can versus what measures. we patients in for is our a in from you data enrolling it and those enrolling consistency countries I do analyses countries Advanced rates see what naive perspective. in pooled And high across as the world. looks And high biologic Advanced are that's that stratified of Therapy versus high stratify we like you're Therapy, What feel looking versus the of outcome have world consistency the non of different sites about data, the sites, blinded failure versus biologic specific enrolling good rest rest will naive enrolling high

trial robust conducting to exact the data. the very all a monitoring pleased you'll But with out trial, see the I'm patient we're those lay of think and characteristics not from the perspective, in population half. I'm I So the going today, second data a out consistency when come

Derek Archila

it. helpful. Thank Understood, Okay. you, Got super guys.

Raju Mohan

Yes. Thanks, Derek.

Operator

The Thompson Alex Please next comes with Stifel. go question ahead. from

Alex Thompson

Great, for Hey, taking question. my thanks

rest timelines for year. this I think for of the

runway had then Marty, little timelines to I those are what data terms about XQ guidance expecting. think wanted your you after spend? of could XQ confirm you that for sort previously, maybe, just and of to mentioned bit XXX And in then early a certainly expected cash talk if the you data, that embedded you're in what's still that

Bill Sandborn

the we've so people. people , quarter, would for it's of then going Yes to half quarter, late quarter psoriasis third guided probably so fourth year, be so fourth guide to fourth second SXPX XXX late early Thanks. trial I always quarter. the And sometime for for

Marty Auster

us included in that call. all that completion our And flow what's two about those on so carry Marty. is to it's Hey, phase the Yes, is XXXX. expected in Bill across spoke then today cash assumptions, into the studies

one necessary materials to the necessarily into running our the the XXX, complete around like pre to and get on we trials the not XXXX phase conduct and might we face XX to trial able us as VTXXXXX, and costs trial psoriatic we as year. we Getting completion being for of data phase this arthritis three phase psoriasis that. of CNS readouts expect through for, Crohn's obviously that's be directed our be like capital, well caps to get trial for things NLRPX any for CMC, two out So of for of does able the anticipate trial kind UC later inhibitor based produce trials XXXX

Alex Thompson

Great, thanks.

Raju Mohan

Yes, thanks, Alex.

Operator

Next from Please ahead. Goldman question Sachs. comes Chris Shibutani with go

Chris Shibutani

the term extension study just is of and been drove updated so, And is an posting, if Thank you the Or was slight arm much. what that If appears I Two the study, with may, it's added, Quinntrials.gov there's this way. with aspect XX posting, that but believe new? the psoriasis questions. this in and change very decision? it the always two has a phase it week a I first, this long designed

on you reflecting views commercial that Otezla? particulars as I negative of with to expectations, commercial far? that's played this that influence they had, made talked you you. two, maybe think with your a then thus thinking share how how has recently updated And any if done result performance Thank your delivering us performance, forward [indiscernible] how relative to secondly, going commented XX% a compared the on Phase impressions? talked has talk commercialization your strategy with this on for And about [indiscernible] then you this Share, from and Crohn's? versus about XX%. development the previously And outcome the has Crohn's a tick on your disease. Bristol's about Can secondly, and expected out. opportunity

Raju Mohan

Chris, those are three questions not two.

Chris Shibutani

Yes XA, XB.

Raju Mohan

Yes, trials. let have me on comment Bill

Bill Sandborn

Yes.

we to another the that. update and therapy, sufficient to the the the extend filings, the was was data when endpoint up we'll week And trials.gov initially primary clinical Tox regulatory or the therapy. trial design with of we that had the XX the indicates duration XX remains XX. through and long study have coverage did process for Tox toxicity, regulatory treatment we beyond that year in had for mind, so chronic for So to Subsequent and that do filing term of and study that weeks, weeks we went designed coverage of

with was of just the there So data disease and supporting Crohn's TYKX, availability respect to

think disease. zero XX a the those least and was to higher, be below the outcome if we'd you would plateau I IC-XX efficacy not of coverage need the always XX to hours. of that see antibodies, of don't hours will we doses and was high range, doses, you Crohn's well XX% study IC-XX know course, need and XX% that about that expected that so in negative, that with TYKX estimated that all level of at at dose had coverage studied, IC-XX And, that

up XX will the we think efficacy that reason hypothesis work class show no expected in where Crohn's trial we, trial it's be we to will and and well. in to a always sure likely of different that doses would what are didn't knew the coverage happening disease from was completely we show leading we that strong as and our proposition that that fail. of studying And psoriasis to enough, And was hours So efficacy IC-XX disease. Crohn's believe

all. So in. We completely that it doesn't change our factor thinking at

Chris Shibutani

And on the commercial.

Raju Mohan

Yes.

brief. On the commercial side keep it

well. trial across beyond a we've and trials, our forward just first, other looking and as commercial the hired thinking head indications recently here psoriasis of So

I for is. what this Tesla think analysis it

big, we the our begin big class from of clearly amount excitement analysis is KOLs. Tesla. of prescribers is There right, an is drugs, discussions part a differentiated planning huge this own now always markets and which is lagging of our as in First, oral our, with as commercial

than the drug benefit it's the as that's would with as think And comparable, our come but to into with better with with class certainly grow, we what's I safe market addiction. a us drugs along with think been going trials. shown TYKX move market I efficacy we

that. the think market I would appreciate

add your and the very we're So anything terms what appreciate to to Tesla think think whole bullish in of it's And, class. we and now we about Bill? are and of in the No. still patients I the early just have the The bullish switching feel not but relatively to launch a to, continue to or now know happening this from about terms have ratio to days over what's from what's I just biologic prescribing inhibitors, patients that that prescribers talking folks else Tesla so we just TYKX

Chris Shibutani

Okay, great. sharing Thank your you thoughts. for

Raju Mohan

Of course.

Operator

comes Emily go Please next Wainwright. H.C. question from ahead. The with Bodnar

Emily Bodnar

to for this for previous data [indiscernible] taking noted I up they're UC questions. the going guess of thanks one first high that kind the have Hi, question. the study in later dose on the following year.

into So have the plan indications any And might you if expectations study. two comment which for kind curious Thank you. how that you acid [class] phase you on might maybe that also, on views how VTXXXX. impact can you that your to of on study, for and following want VTXXXXX, determining take then

Raju Mohan

Yes.

that addressed. He's get take comeback. before again, think [indiscernible] you it you discussed of I So the running. Once is see first second trial Bill in terms the and

Bill Sandborn

not one, XX had public, class Yes. is. In of toxicity It's had approximately XX IC-XX phase patients milligrams they of knowledge, a to coverage, hours us not our my was dose that And skin that what IC-XX dose would dose, working the calculations are tolerable. it all of exactly so XX% still zero of on BID really that hours and coverage. that of remind I'll give

they're have X been BID. there XX or studying BID BID even rumors that XX So or

it's anti it you the coverage imagine It's it if it's even even from to would that not But perspective. a Crohn's exactly tolerability gave previously I for at disease, in just XX difficult colitis. answer would it is is, that in XX larger what BID give BID, remind that And also bowel disease. work to is the disease in than inflammatory ulcerative us, XX to expect that IL- is effect size see antibodies you Crohn's with

differences to disease, XX% range and XX% and ulcerative placebo So XX% to it's the in you typically optimal and in Crohn's more doses of colitis. drug at between XX% see

better program phase with showed gain Lilly reported recently have a XX% three [indiscernible] phase the placebo studies. placebo studies XX% over for colitis their and than ulcerative So, and induction three

the think for the recall crab quotes study I is which arm, are dose As and citizen they is of our I difference best XX scenario. per case a drug to if show of a to placebo patients XX%, high seeking

hours, If XX% you to you'd had that's not work. has for with antibody or XX dosed patients TYKX show IC-XX XX a to per going a be trying inhibitor fully difference four a arm, that with

predict it fail. will So I

Raju Mohan

have there it. right, All you

XXXX, as R&D there. compounds. this best NLRPX XXXX peripheral out This goal ready is compound as and year molecules NLRPX, So XXXX we for peripheral our day in phase said position in to is we believe the for is a XXXX. our respect molecule both to class two for With

last we we the we sort done about our was support the CMC to the phase two focus the were XXXX the announced two the done one, we've discussion XXX year on done driving of with XXX phase focus last our the clear very TYKX we've for So trial. shift on trial the this towards UC One Phase also data Tox What for year. we've the would work work, we with would the phase from of with trials end focus

Again, be a phase ready this two molecule. will

We validation the across lot been a from beta in IL-XX there implicated sort trials number out biologics. have have and indications a IL-X the different where particular previously excitement disease in of shared of of and

a we year. XXX. make this with for development, the on focus phase But two on [indiscernible] we proceed what done now, alone. compounds whether So just for we've already whether it partner towards compound delivering it's our is the how as and these promise decision both with we'll With go trials for UC in the with end was of a

So tuned for stay just XXXX.

Emily Bodnar

Great, much. thanks so

Raju Mohan

Yes.

welcome. You're

Operator

comes go question Capital. from with Slutsky next LifeSci Our Please Sam ahead.

Sam Slutsky

remind alpha on Alpha my for effective. receptor in to target then profile Hey, and good that an what one program, receptor on quick for the oral alpha for questions. be you're for afternoon, IL-X Thanks ones, lead she everyone. candidate, taking your thinks oral the Two coverage looking me, needed me

Raju Mohan

extremely up towards along lead and moving we our one lead stay in not obviously, Sam, what into has the just I tuned, of we're about to a disclosed assets come lead, embarked place. our that we're comp upon know, are program bit as We've end against little of back we're the more we'll all much challenge. you that few program. of [indiscernible] said go year data compound going We've too the would of the a in successful talk the excitement this say, the there sort the going not detail matures. terms sort out this again, as and with little have, folks drug we a that program So of of could on just here, on

stay tuned. So

Sam Slutsky

drug? then thinking with just we're you that neuroinflammatory And the what you're want VTXXXXX, just for Okay. phase and measuring lastly, one study, PD for indications, would take about a on since then curious effect, the that to for you into see plan CNS to how

Raju Mohan

Yes. Great question.

is compound So taken, precedent data really there for, XB or [indiscernible] no or a been particular phase there's data no there little that that into phase been had trial, no there's taken that's the NLRPX released from there's for X, indication trial. and was

it's a of CNSidn expect distribution class this fraction think a it us, the free KPU, in interstitial really in we good the across is for has really be in compound, CSF, So we the use what to fluid the best in terms profile brain.

goal it's for phase a goal. So the our part X two study,

both exposure, do looking exposure as a as safety, in and is will at fluid the in plasma, a we course, free expect which study what and the surrogate as well for in the brain, where X for at, of CNS in interstitial you also CSF, phase is surrogate to First of a well. fraction we and look blood

we're So as our and phase What potentially in trial, a intent now, at looking is looking that's at biomarkers well. actually will part looking disclose final at we is, one. at, XB

this sideman it's we're And like phase have two sure again, to feel we efficacy, exposure particular, levels, the in and precedent very that. that we again, looking But do development is that very CSF looking two brain for calibrating And CSF, as before the relevant make confident eventual those for something and levels in as what of phase we compound standalone forward you complicated. at for, studies, a we X very know PK the a well. looking with at calibrate understand that path in longer

terms in of, biomarker is of IL-X course, biomarkers, think NLRPX I [indiscernible] activity ultimate beta. of the

of into in really with if coming also we're what to they tuned the news again, meaningful Are really be modulate of what in we do guide trials? we are phase go X they duration But a expect stay XXXX disease terms sort of us a these population, and of those trial? biomarkers out. conscious for patients through would consistent when So and

later Of of XB discussions. we'll phase course, talk And going as trials dose healthy one, said, phase in X this of we quarter. more about the volunteers we're in this future to the then we're that and trials

Sam Slutsky

Thanks. it. Got

Raju Mohan

Yes.

welcome. You're

Operator

like remarks. back some for Raju would the you. I turn closing Mohan now Thank Dr. to call to

Raju Mohan

back, to interest well, you spoke know, all always and you Yes, programs. and again, we weeks with in just a together the the thank our thoughtful great few address you a get it's appreciate all very questions

months. And let's, we'll guys in again you so a see few

So all thanks the and again thanks to team.

Operator

XXXX time -- quarter Ventyx call. disconnect this This concludes a have today's conference Biosciences first line Please earnings your and wonderful at

Ventyx Biosciences (VTYX) 11 May 232023 Q1 Earnings call transcript