vTv Therapeutics(VTVT) - 2025 Q1 - Quarterly Results

vTv Therapeutics Announces 2025 First Quarter Financial Results and Provides Corporate Update Recent Company Highlights vTv Therapeutics reinitiated screening for its CATT1 Phase 3 trial of cadisegliatin for Type 1 Diabetes and amended the protocol to shorten the study duration, aiming for topline data in 2H 2026 - Screening has been reinitiated in the Company's CATT1 Phase 3 trial evaluating cadisegliatin for type 1 diabetes (T1D), with topline data expected in the second half of 2026[1][3][5] - A protocol amendment for the CATT1 Phase 3 trial reduced the overall study duration from 12 to 6 months, expediting time to topline data without impacting key endpoints, and will now provide continuous glucose monitors (CGM) to participants[3][5] First Quarter 2025 Financial Results Overview The company reported a decrease in cash position, a slight increase in R&D expenses, a decrease in G&A expenses, and a net loss of $5.1 million for Q1 2025 Cash Position (in millions) | Metric | March 31, 2025 | December 31, 2024 | | :----- | :------------- | :---------------- | | Cash | $31.1 million | $36.7 million | Key Expenses (in millions) | Expense Type | Q1 2025 | Q1 2024 | Change (YoY) | | :----------- | :------ | :------ | :----------- | | R&D Expenses | $2.8 million | $2.6 million | +$0.2 million | | G&A Expenses | $3.7 million | $4.0 million | -$0.3 million | - The increase in R&D expenses reflects higher indirect costs and other project-related expenses, partially offset by lower spending on cadisegliatin and other projects[5] - The decrease in G&A expenses was primarily due to decreases in payroll costs, legal expense, and other operating costs, partially offset by an increase in share-based expense[5][6] Net Loss and EPS (in millions, except per share data) | Metric | Q1 2025 | Q1 2024 | | :----- | :------ | :------ | | Net Loss | $5.1 million | $4.9 million | | EPS (basic) | $(0.77) | $(1.17) | Condensed Consolidated Balance Sheets As of March 31, 2025, total assets decreased to $32.0 million from $38.3 million at December 31, 2024, primarily driven by a reduction in cash and cash equivalents. Total liabilities also decreased, while total stockholders' equity saw a reduction Condensed Consolidated Balance Sheets Highlights (in thousands) | Metric | March 31, 2025 (Unaudited) | December 31, 2024 | | :-------------------------------- | :------------------------- | :---------------- | | Cash and cash equivalents | $31,059 | $36,746 | | Total current assets | $31,916 | $38,113 | | Total assets | $32,027 | $38,266 | | Total current liabilities | $4,316 | $5,196 | | Total liabilities | $23,130 | $23,965 | | Total stockholders' equity | $8,897 | $14,301 | Condensed Consolidated Statements of Operations For the three months ended March 31, 2025, the company reported no revenue, an operating loss of $6.5 million, and a net loss attributable to vTv Therapeutics Inc. of $5.1 million, or $(0.77) per basic and diluted share Condensed Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :------------------------------------------ | :-------------------------------- | :-------------------------------- | | Revenue | $0 | $1,000 | | Research and development expenses | $2,830 | $2,649 | | General and administrative expenses | $3,673 | $3,978 | | Total operating expenses | $6,503 | $6,627 | | Operating loss | $(6,503) | $(5,627) | | Net loss attributable to vTv Therapeutics Inc. | $(5,092) | $(4,865) | | Net loss per share (basic and diluted) | $(0.77) | $(1.17) | | Weighted average shares outstanding | 6,582,844 | 4,141,492 | About Cadisegliatin Cadisegliatin (TTP399) is a novel, oral, liver-selective glucokinase activator being investigated as a potential first-in-class oral adjunctive treatment to insulin for type 1 diabetes (T1D), aiming to improve glycemic control - Cadisegliatin (TTP399) is a novel, oral small molecule, liver selective glucokinase activator[12] - It is being investigated as a potential first-in-class oral adjunctive treatment to insulin for type 1 diabetes (T1D)[12] - Nonclinical studies showed cadisegliatin increased glucokinase activity independently from insulin, supporting improved glycemic control through hepatic glucose uptake and glycogen storage[12] About vTv Therapeutics vTv Therapeutics Inc. is a late-stage biopharmaceutical company focused on developing novel oral, small molecule drug candidates for chronic diseases, with cadisegliatin for T1D as its lead clinical pipeline asset - vTv Therapeutics Inc. is a late-stage biopharmaceutical company[14] - The company focuses on developing novel oral, small molecule drug candidates intended to help treat millions with chronic diseases[14] - Cadisegliatin, a potential first-in-class oral adjunctive therapy to insulin for type 1 diabetes, leads vTv's clinical pipeline[14] Forward-Looking Statement The release contains forward-looking statements subject to risks and uncertainties, including those described in SEC filings, and the company undertakes no obligation to update them - This release contains forward-looking statements, identifiable by specific terminology, which involve risks and uncertainties[15] - Important factors, including those described in the company's Annual Report on Form 10-K and other SEC filings, could cause actual results to differ materially from expectations[15][16] - The company undertakes no obligation to update or review publicly any forward-looking statements, except as required by law[16] Investor and Media Contact Contact information for investor relations and media inquiries is provided - Investor Contact: Sandya von der Weid, LifeSci Advisors, LLC, svonderweid@lifesciadvisors.com[17] - Media Contact: Caren Begun, TellMed Strategies, 201-396-8551, caren.begun@tmstrat.com[17]