HIGH POINT, N.C., May 15, 2025 (GLOBE NEWSWIRE) -- vTv Therapeutics Inc. (Nasdaq: VTVT), a clinical stage biopharmaceutical company focused on the development of cadisegliatin, a potential first-in-class oral adjunctive therapy to insulin being investigated for the treatment of type 1 diabetes (T1D), today reported financial results for the first quarter ended March 31, 2025, and provided an update on recent corporate developments.
“Our late stage cadisegliatin program is advancing with potential to be the first oral adjunct therapy for T1D,” said Paul Sekhri, Chairman, President and Chief Executive Officer of vTv Therapeutics. “We reinitiated screening in our Phase 3 CATT1 study and, based upon the recent protocol amendment to shorten the study from 12 to 6 months, we expect topline Phase 3 data for cadisegliatin in the second half of 2026.”
Recent Company Highlights
First Quarter 2025 Financial Results
vTv Therapeutics Inc. Condensed Consolidated Balance Sheets (in thousands) | |||||||
March 31, 2025 | December 31, 2024 | ||||||
(Unaudited) | |||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 31,059 | $ | 36,746 | |||
Prepaid expenses | 742 | 1,192 | |||||
Other current assets | 115 | 175 | |||||
Total current assets | 31,916 | 38,113 | |||||
Property and equipment, net | 19 | 28 | |||||
Operating lease right-of-use assets | 92 | 125 | |||||
Total assets | $ | 32,027 | $ | 38,266 | |||
Liabilities and Stockholders’ Equity | |||||||
Current liabilities: | |||||||
Accounts payable and accrued expenses | $ | 4,191 | $ | 5,027 | |||
Current portion of operating lease liabilities | 125 | 169 | |||||
Total current liabilities | 4,316 | 5,196 | |||||
Contract liabilities, net of current portion | 18,669 | 18,669 | |||||
Warrant liability, related party | 85 | 57 | |||||
Warrant liability | 60 | 43 | |||||
Total liabilities | 23,130 | 23,965 | |||||
Commitments and contingencies | |||||||
Stockholders’ equity: | |||||||
Class A Common Stock | 26 | 26 | |||||
Class B Common Stock | 6 | 6 | |||||
Additional paid-in capital | 312,698 | 311,885 | |||||
Accumulated deficit | (304,810 | ) | (299,718 | ) | |||
Total stockholders’ equity attributable to vTv Therapeutics Inc. | 7,920 | 12,199 | |||||
Noncontrolling interest | 977 | 2,102 | |||||
Total stockholders’ equity | 8,897 | 14,301 | |||||
Total liabilities and stockholders’ equity | $ | 32,027 | $ | 38,266 |
vTv Therapeutics Inc. Condensed Consolidated Statements of Operations (in thousands, except per share data) | |||||||
Three Months Ended March 31, | |||||||
2025 | 2024 | ||||||
(Unaudited) | |||||||
Revenue | $ | — | $ | 1,000 | |||
Operating expenses: | |||||||
Research and development | 2,830 | 2,649 | |||||
General and administrative | 3,673 | 3,978 | |||||
Total operating expenses | 6,503 | 6,627 | |||||
Operating loss | (6,503 | ) | (5,627 | ) | |||
Interest income | 331 | 79 | |||||
Other expense, net | (45 | ) | (371 | ) | |||
Loss before income taxes and noncontrolling interest | (6,217 | ) | (5,919 | ) | |||
Income tax provision | — | 100 | |||||
Net loss before noncontrolling interest | (6,217 | ) | (6,019 | ) | |||
Less: net loss attributable to noncontrolling interest | (1,125 | ) | (1,154 | ) | |||
Net loss attributable to vTv Therapeutics Inc. | $ | (5,092 | ) | $ | (4,865 | ) | |
Net loss attributable to vTv Therapeutics Inc. common shareholders | $ | (5,092 | ) | $ | (4,865 | ) | |
Net loss per share of vTv Therapeutics Inc. Class A common stock, basic and diluted | $ | (0.77 | ) | $ | (1.17 | ) | |
Weighted average number of vTv Therapeutics Inc. Class A common stock, basic and diluted | 6,582,844 | 4,141,492 | |||||
About Cadisegliatin
Cadisegliatin (TTP399) is a novel, oral small molecule, liver selective glucokinase activator being investigated as a potential first-in-class oral adjunctive treatment to insulin for type 1 diabetes (T1D). In nonclinical studies, cadisegliatin, acting selectively on the liver, increased the activity of glucokinase independently from insulin which supports clinical investigation of improvement in glycemic control through hepatic glucose uptake and glycogen storage.
Cadisegliatin is under investigation and the safety and efficacy have not been established. There is no guarantee that this product will receive health authority approval or become commercially available for the use being investigated.
About vTv Therapeutics
vTv Therapeutics Inc. is a late stage biopharmaceutical company focused on developing novel oral, small molecule drug candidates intended to help treat millions with chronic diseases. vTv’s clinical pipeline is led by cadisegliatin, a potential first-in-class oral adjunctive therapy to insulin being investigated for the treatment of type 1 diabetes.
Forward-Looking Statement
This release contains forward-looking statements, which involve risks and uncertainties. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this release, including statements regarding the timing of our clinical trials, our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause our results to vary from expectations include those described under the heading “Risk Factors” in our Annual Report on Form 10-K and our other filings with the SEC. These forward-looking statements reflect our views with respect to future events as of the date of this release and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this release and, except as required by law, we undertake no obligation to update or review publicly any forward-looking statements, whether a result of new information, future events or otherwise after the date of this release. We anticipate that subsequent events and developments will cause our views to change. Our forward-looking statements do not reflect the potential impact of any future acquisitions, merger, dispositions, joint ventures, or investments we may undertake. We qualify all our forward-looking statements by these cautionary statements.
Investor Contact
Sandya von der Weid
LifeSci Advisors, LLC
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Media Contact
Caren Begun
TellMed Strategies
201-396-8551
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Last Trade: | US$22.41 |
Daily Change: | 1.10 5.16 |
Daily Volume: | 5,566 |
Market Cap: | US$58.490M |
March 20, 2025 March 17, 2025 December 09, 2024 November 12, 2024 |
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