Ventyx Biosciences, Inc. (NASDAQ:VTYX) Q2 2023 Earnings Call Transcript

And then for VTX2735, our peripheral NLRP3 inhibitor, we reported a year ago in June the Phase 1 SAD and MAD data. And then we have an ongoing sort of Phase 2a trial in CAPS, as I mentioned. We do have patients that are now enrolled in the trial. And remember, this is an ultra rare disease. There’s a couple hundred patients in the U.S. So just if you had two patients, that’s 1% of the population. So this is not easy to recruit. And the fact that we have patients enrolled, we’re pleased with — I won’t get into the granular details about where we are in that. But I think we’re pleased with the level of screening and enrollment that’s going on. And I feel confident that we’ll be able to have some data late in the year with that program.

Raju Mohan: This is Raju. So on development strategy for 2735, as we said on R&D Day and we’ve sort of continued to reiterate that, we want to get both compounds Phase 2 ready. So 2735 has finished Phase 1. We’re in the middle of starting some chronic tox studies. And with 3232, again, we are finishing up Phase 1, expect to have that wrapped up early first half of next year. And there again, we’re CMC ready, we are planning on the tox work. So we’ll have both compounds Phase 2 ready in the early first half of next year. And we’ll have the data readouts on the two Phase 2 trials ongoing for 958 and 002. And we’ll just look at the strategy across the portfolio as we pursue these two molecules. But no matter where these go in terms of whether we do it alone or whether we have a partner, we are ready for the Phase 2 start.

And we’ve outlined the opportunities for both drugs. So the peripheral molecule has broad indications that they’ll outline both in cardio metabolic areas as well as some very specific derm indications. And then for 3232, there’s a huge excitement in neurodegenerative diseases, including Parkinson’s. And our goal has been always focus the Phase 2 trials, get ready for Phase 3 with the two compounds and get the NLRP3 portfolio Phase 2 ready late this year or early first half. And then we look at the entire portfolio and decide where we take these two molecules.

Derek Archila: Excellent. Thank you.

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

Chris Shibutani: Thank you. Two questions, if I may. On the psoriatic arthritis opportunity, the Takeda-Nimbus is expected to have Phase 2b data that reads out this year. Can you share with us what your expectations are for this trial and any potential for read through in terms of what’s your ongoing psoriatic arthritis trial? And the question on Crohn’s as far as enrollment in the Phase 2, have you observed any changes in particular since Bristol’s compound failed its Phase 2 study? I did note that in Bill’s prepared remarks about the S1P UC study, the words perseverance was used. Thank you.

Raju Mohan: Yes. Bill, go ahead.

Bill Sandborn: Yes. I think we saw the totality of effect at the higher doses with the Nimbus-Takeda product in psoriasis as being a bit greater than what was seen with deucravacitinib particularly with where you end up at the final approved dose. And so given really a meaningful signal with both the 3 milligram BID as I recall and 12 milligram — or 6 milligram QD and 12 milligram QD doses with deucravacitinib and to my — I thought there was a bit of dose response, particularly as you got into the ACR50 and 70 for the 12 milligram once a day dose with deucravacitinib. So I anticipate that there would be a positive and meaningful effect across ACR20 and 50 and 70 for the Nimbus-Takeda drugs. I don’t know that we know exactly what doses they are doing, but it’s reasonable to speculate or anticipate that they would include some of the higher doses from the already completed psoriasis trial.