Earnings call transcript Q2 2023

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Operator

Good afternoon, ladies and gentlemen, and welcome to the Ventyx Biosciences Second 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 begin. Sir, you may

Marty Auster

business Ventyx’s Thank and call second XXXX providing to be you. afternoon, everyone. quarter a and results Good Biosciences financial for webcast our you. conference discussing Welcome update where will we

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

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

risks are those forward-looking results ago. that filed differ. Factors subject are a in June statements recent cause to statements could materially with filed XX, These actual reports quarter outcomes actual to by uncertainties such to our our and/or which for SEC, or implied detail differ cause including and XXXX, could that I discussed periodic results the expressed Form minutes ended most few XX-Q in from greater the just

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

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

Raju Mohan

August quarter results how good the joining half in our and flown call. hard that has first already we XXXX you for It's Marty, afternoon, Thank believe to by. Thanks, and financial are conference everyone. second

the the a R&D and year January productive entire first recalled have and of very of pipeline. been proud team's it's discussions the half tremendously recent I our press am across As releases, you in for may from execution from Ventyx,

let a financial update. run to then of Medical opening call for agenda. And this before call our overview will our So level drug business provide the XXXX I'll across by the quarter results over who updates hand Officer, finally, I Chief will Q&A. and will providing President through And afternoon's Bill present development our me begin Marty programs. second Sandborn, high an

So diseases treatment always by others. significant to let are me disease, as lupus indications by inflammatory novel immune including bowel poised a believed oral indications Ventyx, psoriatic arthritis, are of we've numerous that currently play the psoriasis, and such in start role saying therapies biologics, dominated at that long-term injectable

billion an large are pill, choice and $XX underpenetrated the markets annual referenced of as in sales. an general market shift These instead currently diseases in offered but the in share, a I as that patients believe of drug, populations injectable oral treated clinicians each a over we a using there therapy, is of as of meaningful the the expansion earlier. for well potential And exceed

X pipeline molecules. are different in novel have us positions overall discovered wholly-owned of indications. an the therapies, five seen I oral we of across we of at And excitement conducting promise small in forefront that currently internally therapies. trials compounds portfolio encompassing targets We this increase of our our proud the am And revolution around believe Phase and oral

Let me begin with the compounds.

in psoriatic disease psoriasis, the TYKX our a Phase VTXXXX pathology diseases progression. TYKX know, disease, key for in direct a in modulating where development cytokine all of and you arthritis, Crohn's role X inhibitor allosteric IL-XX, As plays is plaque implicated

coverage aiming highest all Phase trials. the X dose are discussed, to previously achieve the TYKX across at we of trough As ICXX

of trial now their completed in patient we X I'd Phase entire the is of With this SERENITY the the to fourth severe in an all to VTXXXX important announced June, In quarter efforts. look trial and for data psoriasis. that like reporting for milestone team in Phase Ventyx, moderate we This year. plaque enrollment we enrollment complete, forward to SERENITY line X thank top the from

On the for will once that extended ER and an development to X in continue into release VTXXXX, daily tablet trials an make Phase profile remain advance the target confident optimized to tablet, progress towards XXXX. tablet of we we product have

us in an look incorporates the iterative We sequentially in As our a prototype detailed previously to quarter. discussed, allows fourth update multiple evaluate to process development humans. strategy that forward formulations providing

or announced ongoing moderate with Ventyx that ulcerative trial reporting of the in to from we congratulate ozanimod company the colitis. first team on look again active absolute this the demonstrate VTXXXX June, milestone. important X fourth trials. enrollment we ALC, like Phase etrasimod results to to to the in forward We early top are line to this greater severely patients X of We year. this similar counts, believe in trial completed In quarter magnitude and in of relative I'd in we reduction Phase lymphocyte a

developed are the of ulcerative differentiator validated ALC, relative colitis. a translate of and a may we for potential exploiting direction biomarker believe efficacy full believe that into greater We by this other to this mechanism drugs

Zeposia, is clear, in to levels class as patients etrasimod that asset should are UC, leading more in efficacy if trial. Our moderate very color to biologics. both agent on by position Bill or and a have competitor which will efficacy always of from achieved, superior been to achieved and potential differentiated provide progress profile, VTXXXX this oral and safe with This this ozanimod, severe it’s aspiration UC demonstrate for

novel CNS-penetrant lead recently Beyond in dosing which VTXXXXX, X trials trial volunteers. peripheral continue healthy now announced Phase inhibitor in our we our in for of X inhibitor in programs, portfolio, compound is NLRPX Phase patients initiation to advance including CAPS and we VTXXXXX these which our NLRPX

and X fourth quarter. we year. generating forward VTXXXX our the Phase proud first in summary, So to VTXXXX I'm And the of look very important the execution in both for during of team's half data

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

Bill Sandborn

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

will we three in arthritis. You trials plaque VTXXXX, ongoing to SERENITY TRANQUILITY in psoriatic Phase moderately and the trial severe for have trial trial severely HARMONY Crohn's psoriasis, recall moderate the in X the active disease that to active

is SERENITY in a week As to psoriasis. PASI the patient trial achieving that Raju proportion to subjects of doses in mentioned, plaque the SERENITY or patients, XX. enrollment completed endpoint June placebo. XX randomized we includes of target one And four approximately we primary announced XXX of at VTXXXX in enrollment The trial the efficacy

low disclosed, previously and Phase to therapeutic expected ranging as from dose measured X multiple an are we As at exploring cohorts dose minimally at this the anticipated dose by that is IL-XX to high a TYKX XX. end trough achieve ICXX in trial coverage

excellent job this report Our the and around an we trial six now did Phase very enrollment data team X excited quarter. enrolling top in SERENITY from to months, with and line during trial fourth are complete the

In in about trial the the before expect to trials Crohn's continue have addition we in trial, year. arthritis our make trial psoriatic of end say HARMONY enrolling progress the to more to to and TRANQUILITY the disease on and we progress the these SERENITY

demonstrating at our previously milligrams steady lymphocyte label approximately Phase that ozanimod. that X or in our shared compared approximately absolute we and VTXXXX, more state of SXPX count etrasimod high dose the as to the XX achieving open stage. Phase best-in-class extension X have for in ulcerative receptor moving Now from data to colitis XX% reductions potential range Recall is for XX% modulator development

effect colitis may trials in efficacy driven And SXPX efficacy our ulcerative evaluating multiple our sclerosis pharmacodynamic thesis consistent analysis translate ulcerative both receptor differentiated of dose across into modulators. this based and remains on colitis response that improved observed

announced in severely treatment Phase at doses As study we endpoint in includes that as Raju we week in The ulcerative the completed patients long-term approximately VTXXXX of blinded score. placebo trial extension to to This Mayo by XX-week the mentioned, a patients XXX enrollment XX, proportion subjects target the colitis. VTXXXX for achieving defined XX-week of with a followed X of by induction period, one of active remission enrollment June clinical period. or randomized primary is modified a ongoing moderately

on X the I to environment. trial accomplishment. want I'm grateful And enroll in for colitis Phase of congratulating and and to small It ulcerative feat a no dedication large the this is team perseverance join in team. dynamic Raju a challenging our

to top We looking quarter. line are reporting in fourth the data early now trial forward this from

VTXXXX psoriasis. the ulcerative in top VTXXXX for We of top Phase line in ahead report colitis Phase to data line expect data for X X

VTXXXXX, and to had VTXXXXX then multiple and safety, CNS-penetrant a volunteers. fluid X designed of that on briefly serial touch including single evaluate We in trial sampling dosing June I'll in cerebrospinal pharmacokinetics Finally, our dose This our initiated ascending novel announced of inhibitor NLRPX NLRPX the exposure. we in healthy CNS a tolerability, Phase to inhibitors. of is two-part ascending trial pharmacodynamics assess portfolio

We and in of a Phase VTXXXXX, or to of syndrome, with autoinflammatory periodic pharmacokinetics is that which FCAS, pharmacodynamics, is underway our subpopulation Phase and reiterate and ensure I'll concept X NLRPX potential compounds of peripheral are NLRPX our best-in-class safety, most proof ready. or a to these trial the syndrome, X have cryopyrin-associated both terms that with establish of profile familial goal inhibitors, our cold inhibitor CAPS. common

range the and diseases, dermatologic these includes disease disease, disease NLRPX and approach for neurodegenerative peripheral within indications cardiovascular, large and programs indications rheumatic this in CNS, inhibition Parkinson's and future With includes Alzheimer's inhibition, the value of unlock a that believe as We optionality will in wide strategic create among such NLRPX others. will of this development. this

of X VTXXXX just efforts exciting is this for this the quarter. in quarter with line team for fourth and important conclusion, top the In year. thank corner the our Phase again their for I'd around VTXXXX period during a very to Ventyx like data

back a on for question-and-answer, call results. to Marty? hand discussion the Before Marty moving financial to our of I'll brief

Marty Auster

Thanks, Bill.

also the detail financial for more today our though. XXXX, the VTXXXX Phase XX.X the the disease Crohn's second bell Phase X to and million press expenses clinical XX-Q being of quarter in X X the I'll reflects arthritis. closed today. advancement ongoing after well our testing, summarize broader execution issued the quarter later pipeline program market the compared trials quarter results the and second in filed stages of you'll the trial psoriatic as in psoriasis, this results were as in So million which conducted VTXXXX XX.X in find Phase in including on with R&D here and after briefly our colitis of of of ulcerative into release

second marketable the the quarter second G&A for of net year compared XXXX ago were X.X loss and to equivalents net a second quarter as in company were XX, XXXX. million the reflecting million XXXX. securities compares the the XXXX growth of XX.X on period, in million. to cash for cash, This quarter loss and X.X marketable 'XX of million securities XXX.X XX.X expenses in of to XX, and equivalents compares June XXX.X of million million Cash, March of cash

continue our current into securities We marketable are our to equivalents cash and XXXX. planned sufficient operations to support believe

the and and This turn to call, for Chris I'll the CBO, to President back concludes by begin afternoon's and Krueger. Operator? CEO, call the I'll over Sandborn; session. joined our now be operator Mohan; prepared CMO, And Bill our remarks the our Raju Q&A

Operator

Yee our Thank now from open this you. [Operator And Michael come Jefferies. time, is question the At will first Instructions]. for floor you, sir. Thank questions. with

Michael Yee

of you. for I thanks data, kind PASI of for to dosing, a Maybe TYKX today. two-part kind for you know on XX. the upcoming Thanks to lot question guys. question the the and of get point XX% a XX%, Bristol's BID results updates people Hi,

say, what which And person to that? hey, believe we're then would PD the it's for but XXX. the crosstalk think about do at You where guess the looked is, some range, be data. IL-XX. How And were and that follow relative that maybe for lead in at what would does you the want better of I to Nimbus at I then guess, look, then Crohn's, of see profile of the [ph]. course, that better, you some of you to those? want PASI higher XX% they second of part marker there to to you

you So maybe confidence what you data how Bill could Thank see play Crohn's? IL-XX in walk to the give psoriasis? on you. into then does the through And that

Raju Mohan

Michael. Thanks, Yes.

Bill, you those. So, of -- why take can both don't you

Bill Sandborn

Yes.

XXX but IL-XX monoclonal with from we zone Janssen to see what Nimbus-Takeda of terms up to the into So oral all with IL-XX. where as I antagonist that's then arrive, short PASI was oral if of would up you generally zone efficacy antibodies that's a in where getting an well. And we agent. the product really the the like especially into see XXs, get that that really -- seen achieved, somewhat And these you the of the solid protagonist of area into the recently are think

the has that these aspirational generation would and so think second and above set been you And floor agents, hit sort oral to I want be zone, of with of differentiating. further some into other that

of sort a we where it, to would land how that's So hope and as low watermark. we see

Michael Yee

the the or data about maybe And PD read-through that And the that gives you you to is what -- Crohn's? see it then just how that clarify that confidence? is

Bill Sandborn

Yes. of Crohn's. to speculating course, We're, on read-through

the with sort XX, doses that's of those alone in and sort we XX either Stelara day psoriasis. for inhibition X inhibition dose then and doses been what XX or a And efficacy total X with Tremfya moderate of effective So of the the doses a to we efficacy. for higher are regimens for disease. milligrams deucravacitinib, or XX ulcerative day with doses interleukin colitis that daily or is that others, of have know required disease twice day psoriasis a interleukin Skyrizi know that that mirikizumab of or twice and biologics than approved optimize are with And Crohn's course, efficacy once Crohn's had with both been of plateaued once with not

that speculate with trials data need intense to XX and and interleukin of it's that that. as primary designed that to TYKX need So with more our disease for reasonable do course, Crohn's XX show to target generate would are We, you interleukin inhibition. to coverage blocking well

the ago, groups So dosing active while of the Crohn's disease, we range psoriasis they're minutes in we trial. highest in as a wide and exposures, just four different trial had I from active have a the active two across have doses, doses doses described two and psoriasis few

exposure read that disease. with will high next in Crohn's emphasizing required anticipate trial hypothesis out we're be exposure greater the we So that And Crohn's able to being year.

Michael Yee

you. Thank

Operator

you. Thank

will Our Thompson come Stifel. Alex next from with question

Alex Thompson

me. taking for Thanks progress. Great. I my and the for two on congrats questions guess,

comment the have QX are studies X you expectations? QD Xs And if whether much formulation, on to what buffer here on psoriasis, has Phase within comment you discontinuation year. then update your the Phase wonder for driving midyear and the formulation Firstly, delay next I and ulcerative QD get been from how on for rates for colitis two wonder tracking if Thanks. I more the you could could to a

Raju Mohan

Yes.

ample disclosure complete end outside always the our So the data, year, of is the and goal of to the leave the development Alex, buffers. by

understand So you buffer after Phase complete QD where X up happens X tablet prototype the out to the data actual from to development. with comes line for and The real doses X. Phase got the exactly dose we Phase of ample selection

that in. buffer. always plenty built we've So There’s of

humans trial and formulations the them we relationship we and in important across approval, we that's you human nailed, guys between to ER work IR and as we iterative doing test to the reg the and we ER program it make right Now, R&D of in really begin and some strategy that disclosures, have in the sort when to X, us dose, process dose as that worked studies, clinical outlined build we prototypes to establish Phase this multiple formulation, final It's that the expect, that or you for we're out. Day, testing had the introduced the right? formulation get into a take a drug be goal will before all

prototype Phase ready start. then coming manufactured, done tablet plan then of all, buffer. So first X get end the year, get out, always the X with this and to by Phase data in actual use actually the regulatory plenty the for there's of stability of that to time We

So there's Phase no impact on X start.

achieving And process. But release confident We towards earlier overoptimistic. of target recognize honestly, in we we’re really the little that believe so progress probably was profile. our a have the we timing data

with And sharing Phase mailing. impact you to packaging is buffer. build forward key stability, regulatory to manufacturing, QX. looking that always the includes details in X. We no and But there's we're So more emphasis in the

now comes for the an out. closer tuned stay Phase somewhere more X update probably when -- just of have we So to when data, between X and the Phase

Alex Thompson

discontinuation rate? And the on

Bill Sandborn

Yes.

to discontinued typical that So was in typically failures. would a colitis appropriate wouldn't primary really trials psoriasis measures, those, What the give trials ulcerative And think XX I missing would is and have is clinical data about specific I it the colitis have some treated psoriasis be interpretability the be. are trial shorter-term weeks duration trial both as granular, prematurely, of which with standpoint trial you for patients if to trials, conversation a is endpoint. these of will that weeks. statistical what sort say The standpoint, was are data or induction and patients both will. outcome XX the therapy is a what From you ulcerative from dichotomous if

So don't any any you the do with patients require lose power analyses that in statistical discontinuation. actually

well any set make up but I beyond we're manage won't that So comments we very any fashion in that. discontinue, a to think conventional would patients

Alex Thompson

Thank Great. you.

Operator

you. Thank

next question come Our Morgan Vikram will from Stanley. with Purohit

Vikram Purohit

Thanks Good questions. Hi. taking afternoon. our for

from side. two our So

psoriasis? and development and get you set First, a in for what how would contemplated to Could us level current runway, thoughts a if current the of your question And the opportunity guidance far to like programs? for is view your commercial runway impacted for Sotyktu’s cash therapy remind gets just Thanks. of performance Marty. it lead the you love pipeline and how maybe commercial date in just has of it's on then XXX your secondly, in

Raju Mohan

the with back Sotyktu start then the second take thing go commercial Marty both to and and maybe So can one. of questions sort

Marty Auster

Thanks, treat rare of both them. get Well, Vikram. to it’s a

coming market early Obviously, substantial, Bristol encouraged on Sotyktu. relative think quarterly of therapy I continuing in performance sort own going the grow are plans commercial is So to think patients is player development space. approved think of oral That market here. and taking global think about is within share includes TYKX this conversions all to Sotyktu that in in and the which of portion the This different kind other We billion updates long attractive is other encouraging. biologics from They're oral a the term think terms Sotyktu’s there the agents here. a market see obviously, providing by other of systemic market. of major to conversions We to commercial to that's are therapy of seeking of obviously that the the of psoriasis. getting days and going We in online has Currently, been about Otezla, quite oral oral class, the we're so. orals. our next a market performance, that significant injectables naive to avenues, from then patients in opportunity is be years. They're -- their significant are approved or that psoriasis, $XX that portion meaningfully from highly who play several off We to look very share coming currently about of with substantial to get introduction meaningful from class therapeutics. just going we overall think treatment TYKX over XX% therapy in

all pretty think favorable. I So looks it

Vikram. question, the to guidance over cash Shifting

arthritis, work have the both that launches be and XXXX. cash us for track So into able then the disease Phase of report It for for we’re our to for Crohn's Bill obviously not X X in X mechanism X VTXXXX CNS through to CAPS in well includes described X completion trial trials for XXXX. VTXXXXX, proof well ability of of psoriasis. Phase XXXX to as completion our expecting NLRPX VTXXXX and those as UC, prep allows It MAD does forecast to ulcerative inhibitor patients includes And us on kind X SAD to allows that us of program includes work data colitis well the we VTXXXX It of or bring and but to as in Phase both eventually. to our then of XXXX. completion obviously that's sort Phase directed Phase is Phase is as what with as for to of If as of get earlier us happening ongoing in which capital be other psoriatic be the continue in programs guidance advance, kind in commence we needs will us all complete psoriasis additional now. positioned kind clinical of

Vikram Purohit

Understood. Thank you.

Operator

Thank you.

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

Unidentified Analyst

at our [indiscernible] This in is you Thank Rahimi Yasmeen speaking Hi. questions. taking for for Piper.

to what reflective activity we PASI be to SERENITY X our oral Phase of VTXXXX? been Our agents, to in so you and and much. of VTXXXX psoriasis do and which in regards first of most other is eager ranging, activities score will is, your drug dose question view prep as costs the comparisons Thank have completed type

Raju Mohan

the second I'll one. Yes, and have first I'll the deal address with question Bill

guided in Phase we all programs. the for both as So around last prep we've earnings necessary initiated call, X activities

of work, Phase support CMC certain preparation product, meetings, includes to X that clinical the end substance, this for PK domain study. all that needed So drug are drug regulatory studies of

So data it's has X in start. fourth planned to track. quarter, seamlessly planning then the on release for well that and moving been we're on all Again, and Phase

all to that’s other on executed both the anything activities. reg yes, be planning and planned goes delay trials. the due There side, clinical no the or to So side, not will necessary these that all side, the CMC

don’t first why you question? the Bill, address So,

Bill Sandborn

Sure.

dose finding? first So that, anti-IL-XX to have both We what outcome is with sensitive that for the all, data of the the exquisitely And utility Phase PASI antibodies psoriasis antibodies. see the X X across form is inhibitors IL-XX measures inhibition. we the fully a Phase number product. what know you we published of also TYKX But abstract and Takeda-Nimbus both is Sotyktu Phase the in have different data with with X of trial

of be sensitive see PASI dosing. say see XX, outcome be dose for or relatively So especially you PASI several XX. that and to sometimes levels go the and But of sort up respectively, on groups seems I And to more blending you XX. doses if to you XXX across -- XX most go range or three seems of will up the PASI And specific high four measure then XX as would of you as PASI a differentiating. XXX, PASI

with often, absolute or what is XXX of rates So And seen And tends with of XX product the XX achieving highest groups milligram the XXX. the in milligram and the PASI less particular of dose it XX. once half lower the with day X at Phase in was PASI that a PASI each be to will Sotyktu dose with both that and achievement exposures Nimbus-Takeda of separate the had that greatest highest doses better.

sort that's we So see it. of how

Unidentified Analyst

Very much. helpful. so Thank you

Operator

you. Thank

come Our with from Archila Derek question next Wells Fargo. will

Derek Archila

for Thanks taking and progress the guys. questions congrats here. on Hi, the

Just ones us guess from the sites? X the number for I geographical trial sites this ex-U.S. that But diversity of missed be prepared the us. two And just future? like with are should how we either to you the you thinking partnering about from how data we guess can U.S. quick the thinking asset in remarks. I in indications prioritizing or remind potentially see Phase when terms versus I maybe first, then about of VTXXXX VTXXXXX? going in And Thanks. are

Raju Mohan

don’t and XXXX? can Bill, future don’t the take them add maybe why But you then of begin. why of both to you I

Bill Sandborn

Yes.

of from the for it's case really of ulcerative get or of VTXXXX, patients colitis you trial. patients require bowel diversity, disease Crohn's So disease target in in you're anywhere VTXXXX a inflammatory X Phase the lot Crohn's clinical XXX trials, ulcerative as requiring the you XXX target and enrollment disease geographic enrolled for whether colitis or enrollment into now sites case trial for

to and in worldwide and but as have Europe being up Western multiple programs. end North in have Eastern Europe, development well. enrollment to enrollment those It's So greater typical countries America

in We those ulcerative are trial. jurisdictions in all colitis the of

in we VTXXXXX, MAD rare patients ongoing then are we report We we about patients distribution inhibitor, mix trial remember, geographic the think And do SAD I our in data now CAPS, for in with ago a this in in we'll There's won't X then into sites trial conventional sort NLRPX is comfortable the feel and Phase that an X Phase that the exactly details pretty the quarter. that peripheral Xa a the when have of it's fourth I we year and trial mentioned. except to as of we And an the the very enrolled achieved, get report a and for hundred ultra reported And have U.S. disease. June couple data. the I trial. Phase say

if the that's just So patients, you X% had of population. two

So this that with that pleased pleased that enrollment won't think the granular program. level not confident we're to I with patients But going year able we're And feel on. screening and the we'll into to in have I with data recruit. be enrolled, of that's we have about some late And in the I are get fact is that. we easy the -- details where

Raju Mohan

Raju. is This

So of on we've Phase sort for R&D ready. strategy want to get Day continued said on we X we and to as development both that, XXXX, compounds reiterate

X, of CMC we're of studies. year. finishing wrapped ready, expect Phase half again, starting first has to And X. We're some are planning are on finished we XXXX So the Phase there next early up that the middle up with again, have tox XXXX, chronic in we And work. tox

we’ll we've in start. So these no for And terms data Phase the for whether two do a molecules. strategy two the in first the we XXX. both Phase across trials go it the these whether have X for of at the we readouts look we'll X outlined we'll next pursue portfolio matter we where as on opportunities have year. drugs. partner, compounds both alone And of the or and But ready X half XXX the And we ready are early just have Phase ongoing

So year specific molecule they’ll very in at this the the these the XXXX, compounds there's indications trials, the And in decide Parkinson’s. that cardio areas Phase excitement with derm then X huge outline look for Phase focus for some has late a goal as we two molecules. get always portfolio X broad has we and or indications. diseases, neurodegenerative and well both Phase early entire then as portfolio two been And NLRPX ready our where take the first half. get ready peripheral including metabolic And X

Derek Archila

Excellent. Thank you.

Operator

Thank next with you. from [Operator Instructions]. Goldman Sachs. And question Shibutani come our Chris will

Chris Shibutani

questions, Thank may. if you. Two I

X, arthritis psoriatic share the have changes trial? that the failed potential through prepared remarks Bristol's to expectations and used. words did you question the your on arthritis in Phase its with note any data in I the what's in perseverance the this have SXP reads your that compound Xb any terms Crohn's opportunity, you observed Can trial as us is about the out was ongoing for X expected far Bill's year. particular On this as for psoriatic you. are study, what read Phase enrollment of And since UC Phase in Thank study? Takeda-Nimbus

Raju Mohan

Bill, Yes. go ahead.

Bill Sandborn

Yes.

of product seen saw approved was the Nimbus-Takeda with with the we think I what totality you in being psoriasis doses at the with effect than greater at final as particularly up dose. end a the bit higher where deucravacitinib

and to QD milligram response, dose the a thought as as meaningful XX given once there was ACRXX really with a deucravacitinib. for the with signal And day I the you milligram recall bit I dose milligram of milligram -- X into with or got deucravacitinib BID milligram doses and -- XX my and particularly a X both XX so and QD XX

completed from the and of and reasonable Nimbus-Takeda anticipate but what and it's ACRXX be I that I that drugs. a the doing, are exactly that for across we they doses don't to effect XX meaningful include higher or the some So would would they know psoriasis already positive anticipate know doses trial. speculate XX there

psoriatic effect excellent effective an think that's than an be little likely with we good further opportunity at possibly therapy confirmed for for inhibitors what least that think opens up with like data. and of the the as surprised is to Nimbus-Takeda TYKX we we And arthritis a that and target better TYKX to wouldn't being VTXXXX. other coverage, be So was deucravacitinib seen inhibition concept do the see with

Chris Shibutani

And on the Crohn's enrollment pace?

Bill Sandborn

always along. too granular gone we've that We've resisted Yes. being as about

the programs, getting in learnings interacting relationships and right applied lot my between We to ulcerative those colitis the the company many the sites, learnings the CRO, coordinators, timely negotiations. taken sites, as the have sites Crohn's and them. There with quite getting a the the with investigators, all Crohn's the of trial program and basis. all country number we've ulcerative allowed and things. colitis right investigators program. contract which of young with study in a the the to mix, We leverage right we with effectively the had were around successful us common those a enrolled And view, are with In

going trajectory the another on we now. right for wait synergies trial. I'll to the the results metrics, going And that and intend have two we activation track, standpoint, deliver our the absolutely in all track, patient stay start were site us And where quarter on say, exactly I'm from on I the are internal year. that next before And rates when can But we're to so for strong had or Crohn's band be feel around enrollment my track next is rates track. just the to we narrow on those planned we year. to we confident for

Chris Shibutani

you. Thank Great.

Operator

you. Thank

Our will come Wainwright. Bodnar next from question Emily with

Emily Bodnar

can indications, just might about Hi. psoriatic the how consider on Maybe ones that inhibitor? internally TYKX Thanks the then those versus sense indications Thank talked far? you arthritis, Sotyktu about for talk you subject evaluating make about the Are those X you'd are for of maybe also like so Bristol you. Phase that you taking for if for alopecia. for data and And a on VTXXXX? SLE question bar think to And think questions. other follow to you previous kind up

Raju Mohan

Bill?

Bill Sandborn

have doses. the target Yes. Until range we another implied across things set coverage data data of Nimbus-Takeda the with more sort with and of products, have we the

I think that opposed it's really now, the milligram right probably to milligram XX was the what seen floor seen should was benchmark what dose with maybe say the deucravacitinib and dose. X as with be

favorable agents, to do action XX inhibitors. other even JAK milligram cross of If you with dose look mechanism pretty the those comparisons, actually data

but more see about that's field the in can let's So raise, that we would floor think we as probably how it. how some get data high

haven't whether we're For I is interest. that to to thinking different indications, but are including course, And yet alopecia. watching psoriasis that aware dermatology. with indications, are about beyond it. space interesting. any we’re, data trigger into there other not some yet, There It's of pulled I'm and any there that logic the for go

ultimately that XX/XX For Stelara really lupus, you'll was with recall interleukin inhibition not effective.

little inhibition about with I'm But So that. skeptical IL-XX that bit the interferon good. a alpha of have you course side looks and

TYKX cannot from endpoints are a antibodies us think sort one and differentiated where These an target. squishy. certainly is the lupus for large IL-XX of are and IL-XX/XX opportunity be trials. The I So for inhibition, that that's

as it a three If recall, plus in results. patients, study, XX readout you'll for and six-month recruit It took arm I lupus, the trial to Phase years half per about and remember, XXX X patients was that three placebo. about deucravacitinib doses

So a relative the often long slog, effect to it's XX% XX% to the in sizes really range are placebo.

of X of successful haven't that a we in time. we yet, any of So Phase in the patients ongoing need per undertaking, on a group. other that because and it's some pending you revisited data trials, course, lot pulled think but And our could trigger be big robust

Emily Bodnar

Thank you.

Operator

you. Thank

come Our Capital. will with next question LifeSci Slutsky Sam from

Sam Slutsky

Good questions. for quick Hi. Bill. Thanks afternoon, the everyone. question A for

potential then what could gen they the get have factors be obviously guess the would next that amount in That could to expected far Zeposia. does UC to what to underwhelmed said, good sales SXP IBD, I on believes drug. I in ultimately so profile view result [indiscernible] your Zeposia class? for the earlier expectations. class, in slow good the paid has blockbuster of of or SXPX blockbuster Pfizer potential launch get uptake obviously, for a position, And and as obviously versus a to it money On think IBD lead the better contributed

Raju Mohan

ahead, Bill. Go

Bill Sandborn

given educational themselves. experience, required. sell And the get that action, any campaign. a robust and could ultimately all think They don't launch engagement require in and Yes, for that Therapies with physician is life is new I’ll of a way opine maybe I of his my colleagues robust in an hasn't bit marketing then from in that education just usually the Zeposia. happened I But sense field little think the there's whenever mechanism Zeposia. little provider all Marty, about bit of and I as well a talk

multiple So also has The that think plays priced drug I lot sclerosis market. it. a the for into been

$XXX,XXX So $XX,XXX it's in the range. $XX,XXX,

price an starting that's for and really a IBD high as that kind to So access. of drug, then sets barriers

looking there So Pfizer and efficacy. and they're I marketing to heavily the drug that sets I and those education etrasimod What placebo. see will that things. of muscle experience put physicians I legacy than to about it's anticipate XX% better And do it'd would and their the with patients more where a pricing. interesting think it's our grow have using the drugs it, really to rising going is a behind be think sense that class. about heavily for? are launch start I ultimately of most really the were lot

placebo XX% induction. for adjusted So remission rates

XX% XX% Phase XX%. of newer and is X Roivant. look Rinvoq some Prometheus in high at when respectively, one XX% delta, teens and the it, and both average deltas. Etrasimod XX%, molecules Some the XX% XX%, TLXA you to remission had Blended XX% was was trial with probably about other in X the entrants, trial. The antibodies, pushing depending Phase placebo adjusted is of the data X Pfizer Phase

with in going think differentiated but probably And the to. the I adjusted really and secondary more getting some rate. if to And placebo be that very interesting stuff people. be that and differentiating things like at ideally that, aspiring next least XX% would land or we that's like exciting, the generation drugs So endpoint, remission you we're want to primary endpoints not complete XX% and what see and only and to on of the that's a remission endoscopic consistency zone

sclerosis. is multiple drug at aimed not Our

And for did Zeposia of So ulcerative of sort you add long that appropriately you want real of an see about all opportunity. think priced colitis anything to market. we a it could as it? be Marty, will the trajectory be

Marty Auster

Yes, field. things lot folks see think talk we hit we of I we about the you from a KOLs with internally, what and that we the in on engage hear Bill, and

Sam, along efficacy a as digits. I of it there. combination was the factors with it's around the cited, you think Zeposia, sort of talked in double on of low you very sort also

it wasn't data onset action, a active of particularly is a drug works or sort of course, metabolite as the onset action drug with fast efficacy. wasn't It's well, it So that groundbreaking of of better slower perceived as of which -- the through. exciting

how obviously, that goes more I launch hopefully And you attributes and we've think later regulatory I are the outcome will our we'll Pfizer's watching etrasimod with think So and VTXXXX commercial attractive closely year. be to on the as got market. investors some to benefits this

Sam Slutsky

Thanks.

Operator

this further at And queue. the you. questions are no there Thank time, in

for So to I'd back to turn over floor like Dr. additional the or closing Mohan remarks.

Raju Mohan

the Hopefully, third to many And Great. really investors the And in your Ventyx. for approaches. quarter. you all plan we're of we quarter the the of connect analysts, will the you all for attend interest thank all again, continued fourth excited we with in upcoming conferences one at

line in results with Phase Looking psoriasis. to for UC VTXXXX in our and followed then top sharing X forward by with you both, starting XXX

So again. once all thank you

Operator

Ventyx quarter disconnect earnings today's Please wonderful Biosciences at conference day. your time, line concludes second and This XXXX you. Thank this call. a have

Ventyx Biosciences (VTYX) 13 Aug 232023 Q2 Earnings call transcript