vTv Therapeutics Inc. (VTVT) shares surged 15.82% in after-hours on Thursday, September 23, 2021, and closed the daily trading at $2.05. Even in the regular trading session of Thursday, VTVT’s stock gained 4.12%. VTVT shares have fallen 2.21% over the last 12 months, and they have moved up 2.31% in the past week. Over the past three months, the stock has lost 25.63%, while over the past six months, it has declined 34.69%.
Let’s see is there any reason behind its surge?
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VTVT update on HPP737
On September 23, 2021, vTv Therapeutics Inc. (VTVT) announced the results of a multiple ascending dose study evaluating HPP737. The Trial enrolled 12 patients to receive each of two dose cohorts, 15mg, and 20mg, for 14 days. There were no serious adverse events and no discontinuations due to treatment-emergent adverse events. The results will also be presented at an upcoming scientific conference focused on dermatology.
HPP737 is an orally administered phosphodiesterase type 4 (PDE4) inhibitor, in healthy adults.
VTVT recent financial results announcement
On August 04, 2021, vTv Therapeutics Inc (VTVT) announced its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- VTVT reported no revenue in Q2 2021 and Q2 2020.
- Research and development expenses were $2.4 million in Q2 2021 compared to $2.5 million in Q2 2020.
- General and administrative expenses were $2.2 million in Q2 2021 compared to $1.7 million in Q2 2020.
- It suffered a net loss of $0.8 million for the second quarter of 2021 compared to a net loss of $5.0 million for the second quarter of 2020.
- Diluted net loss per share was $0.01 in Q2 2021 compared to diluted net loss per share of $0.07 in Q2 2020.
- As of June 30, 2021, the company had total cash of $10.8 million compared to $8.4 million as of March 31, 2021.
VTVT agreement with Cantex Pharmaceuticals
On June 22, 2021, vTv Therapeutics Inc (VTVT) and Cantex Pharmaceuticals, Inc. (Cantex) entered into a licensing agreement under which Cantex has obtained exclusive worldwide rights to develop and commercialize azeliragon, vTv’s novel antagonist of RAGE (the receptor for advanced glycation endproducts). Cantex will be responsible for the development and commercialization of azeliragon and the companies will allocate downstream profits under a tiered arrangement.
VTVT stock went up on Thursday after the company announced positive trial results for HPP737. we can expect it to continue its momentum on Friday as well.