Ventyx Biosciences, a clinical-stage biopharmaceutical company, has announced a significant private placement of its common stock, which is expected to raise approximately $100 million in gross proceeds. The private placement involves the sale of 11,174,000 shares of its common stock at an offering price of $8.95 per share to qualified institutional buyers and institutional accredited investors.
The private placement is led by funds affiliated with Farallon Capital Management, L.L.C., with participation from Cormorant Asset Management, an affiliate of Deerfield Management Company, Redmile Group, Surveyor Capital (a Citadel company), and other investors.
Ventyx intends to use the net proceeds from the private placement, along with its existing cash and cash equivalents, to fund the clinical development of several programs, including VTX3232, VTX2735, VTX002, and the preclinical development of other programs, research activities, working capital, and general corporate purposes. The company expects that with the proceeds from the private placement, its cash runway will be extended into at least the second half of 2026.
Jefferies, Piper Sandler, and LifeSci Capital are acting as the placement agents for the private placement. Ventyx has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the shares of common stock issued in this private placement.
Ventyx Biosciences is a clinical-stage biopharmaceutical company focused on developing innovative oral medicines for patients living with autoimmune and inflammatory disorders. The company's current pipeline includes internally discovered clinical programs targeting NLRP3, S1P1R, and TYK2, positioning it to become a leader in the development of oral immunology therapies. Ventyx is headquartered in San Diego, California.
Following these announcements, the company's shares moved 9.5%, and are now trading at a price of $9.8. Check out the company's full 8-K submission here.
