vTv Therapeutics(VTVT) - 2025 Q2 - Quarterly Results

Executive Summary & Corporate Update vTv Therapeutics presents its Q2 2025 financial results and corporate updates, highlighting the progression of cadisegliatin into Phase 3 trials for Type 1 Diabetes Introduction and CEO Commentary vTv Therapeutics reported Q2 2025 financial results and provided a corporate update, highlighting the advancement of cadisegliatin into Phase 3 trials for Type 1 Diabetes, which the CEO believes addresses a significant unmet medical need - vTv Therapeutics is a late-stage biopharmaceutical company focused on the development of cadisegliatin, a potential first-in-class oral adjunctive therapy to insulin for the treatment of type 1 diabetes (T1D)[2] - The first participant was randomized in the CATT1 Phase 3 trial for cadisegliatin, reflecting continued momentum in its advancement[3] - Cadisegliatin is designed to selectively activate glucokinase in the liver, aiming to improve glycemic control and reduce hypoglycemia risk when used alongside insulin[3] Recent Company Highlights Key recent developments include the initiation of the Phase 3 CATT1 trial for cadisegliatin, expansion of its intellectual property portfolio, participation in a corporate presentation, and the appointment of a new Chief Financial Officer - First study participant randomized in Phase 3 CATT1 trial evaluating cadisegliatin for T1D in August 2025, with topline data expected in the second half of 2026[5][6] - Patent allowance for a crystalline salt form of cadisegliatin, extending the patent term through 2041[5][6] - Michael Tung, MD, MBA, was appointed as Chief Financial Officer in May 2025, bringing over 20 years of financial management and strategic leadership experience[6] Second Quarter 2025 Financial Results This section details vTv Therapeutics' financial performance for Q2 2025, including cash position, R&D and G&A expenses, net loss, and condensed consolidated balance sheets and statements of operations Financial Summary vTv Therapeutics reported a decrease in cash position, an increase in R&D expenses due to payroll, a slight decrease in G&A expenses, and an increased net loss for Q2 2025 compared to Q2 2024 Cash Position | Metric | June 30, 2025 (in millions) | December 31, 2024 (in millions) | | :----- | :-------------------------- | :------------------------------ | | Cash | $25.9 | $36.7 | Research & Development (R&D) Expenses (Three Months Ended June 30) | Metric | 2025 (in millions) | 2024 (in millions) | | :----- | :----------------- | :----------------- | | R&D Expenses | $4.1 | $3.4 | General & Administrative (G&A) Expenses (Three Months Ended June 30) | Metric | 2025 (in millions) | 2024 (in millions) | | :----- | :----------------- | :----------------- | | G&A Expenses | $3.6 | $3.7 | Net Loss Attributable to vTv Shareholders (Three Months Ended June 30) | Metric | 2025 (in millions) | 2024 (in millions) | | :----- | :----------------- | :----------------- | | Net Loss | $6.0 | $5.2 | | Basic EPS | $0.92 | $0.81 | Condensed Consolidated Balance Sheets The balance sheet shows a decrease in total assets from $38.266 million at December 31, 2024, to $26.448 million at June 30, 2025, primarily driven by a reduction in cash and cash equivalents. Total stockholders' equity also significantly decreased Key Balance Sheet Figures | Metric | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :-------------------------------- | :------------------- | :----------------------- | | Cash and cash equivalents | $25,922 | $36,746 | | Total current assets | $26,374 | $38,113 | | Total assets | $26,448 | $38,266 | | Total liabilities | $24,043 | $23,965 | | Total stockholders' equity | $2,405 | $14,301 | Condensed Consolidated Statements of Operations For the three months ended June 30, 2025, vTv Therapeutics reported no revenue, an operating loss of $7.721 million, and a net loss attributable to shareholders of $6.046 million, an increase from the prior year. The six-month period also showed an increased net loss Statements of Operations (Three Months Ended June 30) | Metric | 2025 (in thousands) | 2024 (in thousands) | | :-------------------------------------------------- | :------------------ | :------------------ | | Revenue | $— | $— | | Research and development | $4,103 | $3,439 | | General and administrative | $3,618 | $3,716 | | Total operating expenses | $7,721 | $7,155 | | Operating loss | $(7,721) | $(7,155) | | Net loss attributable to vTv Therapeutics Inc. | $(6,046) | $(5,180) | | Net loss per share (basic and diluted, in dollars) | $(0.92) | $(0.81) | Statements of Operations (Six Months Ended June 30) | Metric | 2025 (in thousands) | 2024 (in thousands) | | :-------------------------------------------------- | :------------------ | :------------------ | | Revenue | $— | $1,000 | | Research and development | $6,933 | $6,088 | | General and administrative | $7,291 | $7,694 | | Total operating expenses | $14,224 | $13,782 | | Operating loss | $(14,224) | $(12,782) | | Net loss attributable to vTv Therapeutics Inc. | $(11,138) | $(10,045) | | Net loss per share (basic and diluted, in dollars) | $(1.69) | $(1.97) | Company and Product Information This section provides an overview of cadisegliatin as a potential first-in-class treatment for Type 1 Diabetes and details vTv Therapeutics' focus as a late-stage biopharmaceutical company About Cadisegliatin Cadisegliatin (TTP399) is an investigational oral, small molecule, liver-selective glucokinase activator being developed as a potential first-in-class adjunctive treatment for Type 1 Diabetes, aiming to improve glycemic control through hepatic glucose uptake and glycogen storage - 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 for type 1 diabetes (T1D)[12] - Non-clinical studies suggest cadisegliatin, acting selectively on the liver, increases glucokinase activity independently from insulin, supporting improved glycemic control through hepatic glucose uptake and glycogen storage[12] About vTv Therapeutics vTv Therapeutics is a late-stage biopharmaceutical company focused on developing oral, small molecule drug candidates for diabetes and other chronic diseases, with cadisegliatin for Type 1 Diabetes leading its clinical pipeline - vTv Therapeutics is a late-stage biopharmaceutical company[14] - The company focuses on developing oral, small molecule drug candidates intended to help treat people living with diabetes and other chronic diseases[14] - vTv's clinical pipeline is led by cadisegliatin, currently in a Phase 3 trial for the treatment of type 1 diabetes[14] Additional Information This section contains important cautionary statements regarding forward-looking information and provides essential contact details for investor relations and media inquiries Forward-Looking Statements This section contains cautionary statements regarding forward-looking information, emphasizing that actual results may differ materially due to known and unknown risks and uncertainties, and the company undertakes no obligation to update these statements - The release contains forward-looking statements, identifiable by terms such as 'anticipate,' 'believe,' 'could,' 'expect,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would'[15] - These statements involve known and unknown risks, uncertainties, and other important factors that may cause actual results, performance, or achievements to be materially different from those expressed or implied[15] - The company undertakes no obligation to update or review publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date of the release, except as required by law[16] Investor and Media Contacts Contact information for investor relations (John Fraunces, LifeSci Advisors, LLC) and media inquiries (Caren Begun, TellMed Strategies) is provided - Investor Contact: John Fraunces, LifeSci Advisors, LLC, 917-355-2395, jfraunces@lifesciadvisors.com[17] - Media Contact: Caren Begun, TellMed Strategies, 201-396-8551, caren.begun@tmstrat.com[17]