Breaking News

Third Point disclosed in an SEC filing its holdings as of December 31, 2022. The fund's six new buys during the fourth quarter included, by size of position, AIG (AIG), Microsoft (MSFT), International Flavors & Fragrances (IFF), Fidelity National Information Services (FIS), and LabCorp (LH). Third Point exited 21 holdings during the quarter, including by size of previous position EQT Corp. (EQT), Range Resources (RRC), T-Mobile (TMUS), Cano Health (CANO), and CSX (CSX). The fund increased its stake in four holdings, including by size of previous position Bath & Body Works (BBWI), TJX (TJX), DuPont (DD), and iShares 1-3 Year Treasury Bond ETF (SHY). Third Point reduced its stake in four holdings, including by size of previous position Ventyx Bio (VTYX), Disney (DIS), and PG&E (PCG). The fund's top holdings as of December 31, in order of size, were PG&E, Colgate-Palmolive (CL), Danaher (DHR), Bath & Body Works, and UnitedHealth (UNH).

Ventyx Biosciences is hosting an investor R&D Day today highlighting key aspects of Ventyx's clinical-stage and discovery programs. Pipeline Updates and Anticipated Catalysts: VTX958:Enrollment is ongoing in the Phase 2 SERENITY trial of VTX958 in moderate-to-severe plaque psoriasis and the Phase 2 HARMONY trial in Crohn's disease, while screening activities have initiated for the Phase 2 TRANQUILITY trial in psoriatic arthritis. Topline data from the Phase 2 SERENITY psoriasis trial are anticipated in Q4 2023. Topline readouts from the Phase 2 HARMONY and Phase 2 TRANQUILITY trials are expected in 2024. VTX002: Ventyx continues to make significant progress enrolling the Phase 2 trial of VTX002 in moderate-to-severe ulcerative colitis. Ventyx expects to complete enrollment by mid-2023, and topline results are anticipated in the second half of 2023. VTX2735: Ventyx is presenting additional data from the completed Phase 1 trial of VTX2735 in healthy volunteers, in which VTX2735 demonstrated excellent safety and target coverage. VTX2735 was well tolerated across all doses tested, with anticipated Phase 2 dose regimens expected to achieve IC90 coverage of IL-1beta for 20 hours or more. A Phase 2 proof-of-mechanism trial of VTX2735 in cryopyrin-associated autoinflammatory syndromes is expected to initiate in Q1 2023. VTX3232: Ventyx expects to file an IND and initiate a Phase 1 trial for VTX3232 during the first half of 2023. The Phase 1 trial is expected to characterize the safety, target engagement and bioavailability of VTX3232 in the central nervous system of healthy volunteers. Discovery Programs: Ventyx is introducing a new discovery-stage program focused on small molecule antagonists of IL-4Ralpha, a target validated by biologics in multiple large autoimmune indications, including atopic dermatitis, asthma and eosinophilic esophagitis. Ventyx is advancing multiple internally discovered novel chemical series through lead optimization with the goal of establishing in vivo proof-of-concept and nominating a lead candidate in 2023.