Why Did Ventyx Biosciences (NASDAQ:VTYX) Stock Skyrocket Yesterday?
Clinical-stage biopharmaceutical company Ventyx Biosciences saw its shares skyrocket to a new 52-week high of $41.29 after peer Bristol Myers Squibb’s (NYSE:BMY) Sotyktu was approved by the U.S. Food and Drug Administration (FDA). Notably, Sotyktu (deucravacitinib), which is used for the treatment of plaque psoriasis, was approved by the FDA without any black-box warning. This means that the drug does not come under the purview of carrying serious safety risks and foretells a relatively easier entry into the market for other competitive drug makers.
Why Did Ventyx Biosciences (NASDAQ:VTYX) Stock Skyrocket Yesterday?
Clinical-stage biopharmaceutical company Ventyx Biosciences saw its shares skyrocket to a new 52-week high of $41.29 after peer Bristol Myers Squibb’s (NYSE:BMY) Sotyktu was approved by the U.S. Food and Drug Administration (FDA). Notably, Sotyktu (deucravacitinib), which is used for the treatment of plaque psoriasis, was approved by the FDA without any black-box warning. This means that the drug does not come under the purview of carrying serious safety risks and foretells a relatively easier entry into the market for other competitive drug makers.