This market will resolve to No if the FDA's decision is a denial (CRL issued), a withdrawal by the sponsor, or a conditional approval — or if no decision is issued.

Brepocitinib is an experimental oral pill developed by Priovant Therapeutics that is designed to calm an overactive immune system in people with certain inflammatory diseases. Think of it like a circuit breaker for runaway immune signals: it blocks specific molecular switches inside immune cells that, when left unchecked, drive damaging inflammation throughout the body. In the VALOR trial , it is being tested as a treatment for dermatomyositis, a rare disease in which the immune system attacks the body's own muscles and skin.