ventyx 017 BIOSCIENCES Corporate Presentation December 2022 Forward-Looking Statements 2 Ventyx Biosciences, Inc. ("we," "us," "our," "Ventyx," or the "Company") cautions you that statements contained in this presentation regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: clinical development plans and related timing ...

017 ventyx BIOSCIENCES Corporate Presentation November 2022 Forward-Looking Statements 2 Ventyx Biosciences, Inc. ("we," "us," "our," "Ventyx," or the "Company") cautions you that statements contained in this presentation regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: clinical development plans and related timing ...

Ventyx Biosciences, Inc. (NASDAQ:VTYX) Q3 2022 Earnings Conference Call November 3, 2022 4:30 PM ET Company Participants Marty Auster - Chief Financial Officer Raju Mohan - Founder & Chief Executive Officer Bill Sandborn - President & Chief Medical Officers Conference Call Participants Swapnil Malekar - Piper Sandler Sam Slutsky - LifeSci Capital Emily Bodnar - H.C. Wainwright Alex Thompson - Stifel Jeff Jones - Oppenheimer Operator Good afternoon, ladies and gentlemen, and welcome to the Ventyx Biosciences ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 001-40928 Ventyx Biosciences, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 83-2996852 (St ...

Ventyx Biosciences, Inc. (NASDAQ:VTYX) Q2 2022 Earnings Conference Call August 15, 2022 4:30 PM ET Company Participants Marty Auster - Chief Financial Officer Raju Mohan - Founder & Chief Executive Officer Bill Sandborn - President & Chief Medical Officers Conference Call Participants Yasmeen Rahimi - Piper Sandler Michael Yee - Jefferies Josh Schimmer - Evercore ISI Tiago Fauth - Credit Suisse Sam Slutsky - LifeSci Capital Jeff Jones - Oppenheimer Operator Thank you for standing by and welcome to the Venty ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements, management's analysis of financial condition and operations, market risk disclosures, and internal controls and procedures [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents Ventyx Biosciences' unaudited condensed consolidated financial statements, including balance sheets, statements of operations, and cash flows, with accompanying notes [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$262.2 million** by June 30, 2022, driven by reduced cash, while liabilities increased and stockholders' equity declined Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $45,343 | $70,791 | | Marketable securities | $213,009 | $215,933 | | Total current assets | $252,193 | $263,020 | | Total assets | $262,185 | $291,482 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $17,674 | $12,283 | | Total liabilities | $19,033 | $12,283 | | Total stockholders' equity | $243,152 | $279,199 | | Total liabilities and stockholders' equity | $262,185 | $291,482 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a **$20.0 million** net loss for Q2 2022 due to increased operating expenses, while the six-month net loss improved to **$42.8 million** Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $14,676 | $9,511 | $32,085 | $34,112 | | General and administrative | $5,722 | $1,675 | $11,060 | $2,422 | | Total operating expenses | $20,398 | $11,186 | $43,145 | $36,534 | | Loss from operations | ($20,398) | ($11,186) | ($43,145) | ($36,534) | | Net loss | ($20,018) | ($15,559) | ($42,750) | ($53,204) | | Net loss per share, basic and diluted | ($0.39) | ($4.31) | ($0.84) | ($17.69) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities was **$27.5 million** for the six months ended June 30, 2022, leading to a **$25.4 million** decrease in cash and cash equivalents Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | ($27,518) | ($12,922) | | Net cash provided by investing activities | $1,747 | $1,888 | | Net cash provided by financing activities | $335 | $113,590 | | Net (decrease) increase in cash and cash equivalents | ($25,448) | $102,544 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section details accounting policies, acquisitions, lease standard adoption, fair value measurements, and stock-based compensation, supplementing the financial statements - In February 2021, the company acquired Oppilan Pharma and Zomagen Biosciences, which were treated as asset acquisitions, with **$21.7 million** expensed as in-process research and development (IPR&D)[60](index=60&type=chunk)[61](index=61&type=chunk) - The company adopted the new lease accounting standard (ASC 842) on January 1, 2022, recognizing operating lease liabilities of approximately **$1.4 million** and corresponding right-of-use assets of **$1.4 million**[48](index=48&type=chunk)[49](index=49&type=chunk) Stock-Based Compensation Expense (in thousands) | Category | Three Months Ended June 30, 2022 | Six Months Ended June 30, 2022 | | :--- | :--- | :--- | | Research and development | $1,599 | $2,794 | | General and administrative | $2,532 | $4,781 | | **Total** | **$4,131** | **$7,575** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial condition and operations, discussing clinical pipeline, expense drivers, liquidity, and capital resources, projecting funding into early 2024 - The company is a clinical-stage biopharmaceutical firm with a pipeline of small molecule candidates for inflammatory diseases, including VTX958 (TYK2 inhibitor), VTX002 (S1P1R modulator), and VTX2735 (NLRP3 inhibitor)[107](index=107&type=chunk) - The company expects its cash, cash equivalents, and marketable securities of **$258.4 million** as of June 30, 2022, will be sufficient to fund operations into the first half of 2024[150](index=150&type=chunk)[179](index=179&type=chunk) - The military conflict in Ukraine has interrupted clinical trial site operations for the Phase 2 trial of VTX002, creating uncertainty around enrollment timing and potentially increasing costs[113](index=113&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Operating loss increased for Q2 2022 due to higher R&D and G&A expenses, while the six-month net loss decreased due to a non-recurring 2021 IPR&D expense Comparison of Operating Expenses - Three Months Ended June 30 (in thousands) | Expense Category | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | Research and development | $14,676 | $9,511 | $5,165 | | General and administrative | $5,722 | $1,675 | $4,047 | | **Total operating expenses** | **$20,398** | **$11,186** | **$9,212** | Comparison of Operating Expenses - Six Months Ended June 30 (in thousands) | Expense Category | 2022 | 2021 | Change | | :--- | :--- | :--- | :--- | | Research and development | $32,085 | $34,112 | ($2,027) | | General and administrative | $11,060 | $2,422 | $8,638 | | **Total operating expenses** | **$43,145** | **$36,534** | **$6,611** | - The decrease in R&D expenses for the six-month period is primarily due to a **$21.8 million** non-cash IPR&D expense in 2021 related to the Oppilan and Zomagen acquisitions, which did not recur in 2022[139](index=139&type=chunk) [Liquidity and Capital Resources](index=30&type=section&id=Liquidity%20and%20Capital%20Resources) The company held **$258.4 million** in cash and marketable securities as of June 30, 2022, funded by IPO proceeds, and anticipates needing additional capital for future operations - As of June 30, 2022, the company held **$258.4 million** in cash, cash equivalents, and marketable securities[147](index=147&type=chunk)[157](index=157&type=chunk) - The company's IPO in October 2021 generated net proceeds of approximately **$158.8 million**[111](index=111&type=chunk)[147](index=147&type=chunk) - The company expects its current capital to fund operations and capital expenditures into the first half of 2024, but this is based on assumptions that may prove wrong[150](index=150&type=chunk)[179](index=179&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Ventyx is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, Ventyx is not required to provide quantitative and qualitative disclosures about market risk[169](index=169&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control - Management concluded that as of June 30, 2022, the company's disclosure controls and procedures were effective[170](index=170&type=chunk) - No changes occurred during the quarter ended June 30, 2022, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[171](index=171&type=chunk) [PART II. OTHER INFORMATION](index=34&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity security sales, defaults, mine safety, other information, and a list of exhibits [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any legal proceedings expected to materially impact its financial position or results of operations - The company is not currently involved in any legal proceedings that are expected to have a material impact on its financial condition[64](index=64&type=chunk)[173](index=173&type=chunk) [Risk Factors](index=34&type=section&id=Item%201A.%20Risk%20Factors) This section details risks including historical operating losses, future funding needs, pipeline dependence, clinical development challenges, competition, and intellectual property concerns - The company has a history of significant operating losses (**$160.5 million** accumulated deficit as of June 30, 2022) and expects to continue incurring losses for the foreseeable future[176](index=176&type=chunk) - The business is entirely dependent on the success of its product candidates, which are in early stages of clinical development and may never receive regulatory approval or be successfully commercialized[182](index=182&type=chunk) - The company faces significant competition from other biotechnology and pharmaceutical companies with substantially greater resources and experience[209](index=209&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=96&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities occurred, and the use of IPO proceeds remains consistent with the original registration statement - There were no sales of unregistered securities during the reporting period[474](index=474&type=chunk) - The use of proceeds from the IPO remains consistent with the plans outlined in the registration statement (Registration No. 333-259891)[475](index=475&type=chunk) [Defaults Upon Senior Securities](index=96&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities during the period - No defaults upon senior securities occurred during the period[476](index=476&type=chunk) [Mine Safety Disclosures](index=96&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item regarding mine safety disclosures is not applicable to the company's operations - Mine safety disclosures are not applicable to the company's operations[476](index=476&type=chunk) [Other Information](index=96&type=section&id=Item%205.%20Other%20Information) The company reports no other material information for this period - There is no other information to report for the quarter[477](index=477&type=chunk) [Exhibits](index=97&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, a lease agreement, and officer certifications - The report includes several exhibits, such as corporate governance documents, a new lease agreement, and required officer certifications[478](index=478&type=chunk)

Financial Data and Key Metrics Changes - R&D expenses for Q1 2022 were $17.4 million, down from $24.6 million in Q1 2021, which included a $21.7 million noncash in-process R&D expense related to acquisitions [27] - G&A expenses increased to $5.3 million in Q1 2022 from $0.7 million in Q1 2021 [28] - Net loss for Q1 2022 was $22.7 million, compared to $37.6 million in Q1 2021 [28] - Cash, cash equivalents, and marketable securities stood at $273.1 million as of March 31, 2022, sufficient to fund operations into the first half of 2024 [28] Business Line Data and Key Metrics Changes - The company is advancing three clinical programs targeting TYK2, S1P1, and NLRP3, with significant progress expected in 2022 [11][26] - VTX958, the allosteric TYK2 inhibitor, is in Phase 1 trials, with a Phase 2 trial expected to commence in the second half of 2022 [15][26] - VTX002, the S1P1 receptor modulator, is in Phase 2 development for moderate-to-severe ulcerative colitis, with a trial planned to enroll around 180 patients [20][21] - VTX2735, the NLRP3 inhibitor, is undergoing a Phase 1 trial, with top-line data expected by the end of Q2 2022 [23][26] Market Data and Key Metrics Changes - The market for psoriasis is estimated at $20 billion annually, psoriatic arthritis at over $4 billion, and Crohn's disease at $13 billion, all currently dominated by biologics [17] - The company aims to capture significant market share with its oral therapies, which are expected to be safer and more effective than existing biologics [17] Company Strategy and Development Direction - The company is focused on executing proof-of-concept trials for its lead asset, VTX958, and plans to generate meaningful efficacy data across multiple indications [39] - The strategy includes maintaining flexibility for potential partnerships while owning all commercial rights to its compounds [39] - The company emphasizes the importance of meticulous clinical trial design to ensure reliable results and efficacy [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of their clinical candidates to address unmet medical needs and disrupt large immunology markets [9][17] - The company anticipates a transformative year in 2022 with multiple key milestones, including Phase 1 data updates and the initiation of Phase 2 trials [26] - Management highlighted the importance of safety and tolerability in their drug development process, particularly in comparison to existing therapies [58] Other Important Information - The company has 100% ownership of all intellectual property rights and commercial rights to its compounds [27] - The addition of Bill Sandborn as President and Chief Medical Officer is expected to enhance the company's clinical development efforts [6][9] Q&A Session Summary Question: Why did Dr. Sandborn decide to join Ventyx? - Dr. Sandborn highlighted his long-term involvement with the company and the potential for a transition from biologics to small molecules in the treatment of autoimmune diseases [31] Question: What is Ventyx doing to mitigate placebo response in their Phase 2 study? - The company is focused on conducting adequately powered trials with strict monitoring and appropriate patient selection to minimize placebo response [34] Question: What are the plans for partnering clinical stage programs? - The company is committed to driving value across its clinical pipeline and will consider partnerships as they generate proof-of-concept data [39] Question: How does VTX958 differentiate from other TYK2 inhibitors? - The company aims to achieve high target coverage and safety profiles that could potentially exceed those of existing therapies [46][49] Question: What are the key pharmacodynamic markers for VTX2735? - The company will focus on standard markers such as IL-1beta and C-reactive protein to assess the pharmacodynamic effects of VTX2735 [62] Question: How does VTX002 stand out in the S1P class? - VTX002 has a shorter half-life and no phosphorylated metabolites, allowing for a faster onset and offset of action compared to other S1P drugs [71]

Financial Performance - The company reported net losses of $22.7 million for Q1 2022, compared to $37.6 million for Q1 2021, with an accumulated deficit of $140.5 million as of March 31, 2022[103]. - The net loss for Q1 2022 was $22.7 million, compared to a net loss of $37.6 million in Q1 2021, reflecting an improvement of $14.9 million[122]. - The company has incurred significant operating losses and expects these to continue as it advances its clinical trials and research activities[104]. - The company has not generated any revenue since its inception and does not expect to do so until successful completion of clinical development and regulatory approval of its product candidates[113]. - The company has not generated any revenue to date and does not expect to until regulatory approval of its product candidates[133]. Research and Development - Research and development expenses totaled $17.4 million for Q1 2022, a decrease from $24.6 million in Q1 2021, with significant costs attributed to VTX958, VTX002, and VTX2735[115]. - Research and development expenses decreased from $24.6 million in Q1 2021 to $17.4 million in Q1 2022, a reduction of $7.2 million[122][123]. - The total cost of asset acquisitions for Oppilan and Zomagen was $14.0 million and $7.8 million, respectively, with excess costs of $12.8 million and $8.9 million expensed as in-process research and development[112]. - The company is currently conducting a Phase 2 trial of VTX002 for moderate-to-severe ulcerative colitis, with enrollment impacted by the conflict in Ukraine[107]. - The company plans to initiate Phase 2 trials for VTX958 in the second half of 2022 for indications including psoriasis and Crohn's disease[101]. Cash Flow and Financing - Cash, cash equivalents, and marketable securities totaled $273.1 million as of March 31, 2022[131]. - Net cash used in operating activities was $12.7 million in Q1 2022, compared to $3.0 million in Q1 2021[142][143]. - Net cash used in investing activities was $16.5 million in Q1 2022, primarily due to the purchase of investments in marketable securities[144]. - Net cash provided by financing activities was $0.1 million for the three months ended March 31, 2022, compared to $56.9 million for the same period in 2021, primarily due to proceeds from the issuance of Series A Preferred Stock[145]. - The company has funded operations through $164.2 million in convertible preferred stock and $158.8 million from its IPO[131]. - The company expects that its current cash resources will fund operations into the first half of 2024[135]. Operating Expenses - General and administrative expenses are expected to increase as the company expands operations and complies with public company requirements[119]. - General and administrative expenses increased significantly from $0.7 million in Q1 2021 to $5.3 million in Q1 2022, an increase of $4.6 million[125]. - The company anticipates significant increases in expenses related to ongoing development activities and commercialization efforts[133][134]. Company Classification and Reporting - The company remains an "emerging growth company" until annual gross revenue reaches $1.07 billion or more, or until the end of 2026[149]. - The company is classified as a "smaller reporting company" as the market value of its stock held by non-affiliates is less than $700 million as of June 30, 2021, and annual revenue was below $100 million for the fiscal year ended December 31, 2021[150]. - The company has elected to take advantage of reduced reporting requirements under the JOBS Act, which may affect the comparability of its financial statements[148]. - The company may continue to rely on exemptions from certain disclosure requirements as a smaller reporting company[150]. - As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk[152]. Accounting Policies - There have been no material changes to critical accounting policies and estimates from those described in the previous Annual Report[147]. - Recent accounting pronouncements that may impact financial positions or cash flows are disclosed in Note 2 of the condensed consolidated financial statements[151].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-40928 Ventyx Biosciences, Inc. | (Exact Name of Registrant as Specified in its Charter) | | | --- | --- | | Delaware | 83-2996852 | | ...

CORPORATE PRESENTATION FIRST QUARTER 2022 Forward Looking Statements Ventyx cautions you that statements contained in this presentation regarding matters that are not historical facts are forward-looking statements. These statements are based on Ventyx's current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding: management's belief that three of Ventyx's product candidates are potentially best-in-class; the anticipated timing of commencement, enr ...