The lawsuit alleges that the Offering Documents for Ventyx Biosciences’ IPO were negligently prepared, and that Defendants made materially false and/or misleading statements regarding the Company’s business, operations, and prospects. Specifically, that: (1) Ventyx’s lead clinical product candidate VTX958 was less effective in treating psoriasis than Defendants had led investors to believe; (2) as a result, VTX958’s clinical and/or commercial prospects were overstated; (3) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; (4) Ventyx’s post-IPO business prospects were thus inflated; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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