Ventyx Biosciences Stock Jumps 56% After Hours On Reports Of $1 Billion Eli Lilly Buyout

• Ventyx Biosciences is a San Diego-headquartered clinical-stage biopharmaceutical company developing oral therapies for patients with inflammation-meditated cardiovascular and neurodegenerative diseases. 
• According to WSJ, Ventyx would add to Lilly’s portfolio of autoimmune conditions, obesity and related disorders, were its experimental drugs to get U.S. Food and Drug Administration’s approvals.

Shares of Ventyx Biosciences (VTYX) soared in the after hours trading session on Tuesday following reports that Eli Lilly and Company (LLY) is in advanced talks to acquire the company for over $1 billion.

The Wall Street Journal reported, citing people familiar with the matter, that a deal for Ventyx could be announced imminently.

VTYX stock jumped 56% after hours after closing 28.52% higher. The company currently has a market capitalization of about $700 million.

What Does Ventyx Do?

Ventyx Biosciences is a San Diego-headquartered clinical-stage biopharmaceutical company developing oral therapies for patients with inflammation-meditated cardiovascular and neurodegenerative diseases.

Its pipeline includes a drug in development for the treatment of recurrent pericarditis and another being developed for patients with Parkinson’s disease. The company also has two compounds aimed at treating inflammatory bowel disease. In addition, one of its experimental drugs is in trials for the treatment of cardiovascular disease associated with obesity.

According to WSJ, Ventyx would add to Lilly’s portfolio of autoimmune conditions, obesity and related disorders, were its experimental drugs to get U.S. Food and Drug Administration’s (FDA) approvals.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around VTYX stock jumped from ‘bearish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘low’ to ‘extremely high’ levels.

A Stocktwits user noted that they sold the stock for double the price they bought it.

Another voiced hopes for Lilly also purchasing Abivax after Ventyx.

VTYX stock has quadrupled over the past 12 months. 

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