vTv Therapeutics(VTVT) - 2024 Q2 - Quarterly Results

Financial Position - vTv Therapeutics reported a cash position of $45.5 million as of June 30, 2024, up from$9.4 million at the end of 2023, attributed to private placement financing[4] - The net loss attributable to vTv shareholders for Q2 2024 was $5.2 million, or$0.81 per share, compared to a net loss of $5.6 million, or$2.69 per share, in the same period last year[6] - Total operating expenses for Q2 2024 were $7.2 million, down from$8.0 million in Q2 2023, indicating a decrease of approximately 10%[9] Research and Development - Research and Development (R&D) expenses decreased to $3.4 million in Q2 2024 from$4.7 million in Q2 2023, a reduction of approximately 28%[4] - The first patient was screened in the pivotal trial for cadisegliatin for type 1 diabetes (T1D), although the FDA placed a clinical hold on the program due to unresolved issues in a recent study[2] - vTv Therapeutics has dosed over 500 subjects in cadisegliatin studies, including 300 patients with type 1 and type 2 diabetes, demonstrating its potential for improved glycemic control[1] - The company is actively working with the FDA to resolve the clinical hold on cadisegliatin and aims to resume the study as soon as possible[2] General and Administrative Expenses - General and Administrative (G&A) expenses increased to $3.7 million in Q2 2024 from$3.3 million in Q2 2023, reflecting a rise of about 12%[5] Licensing and Designation - vTv Therapeutics expanded its licensing agreement with Newsoara Biopharma for the PDE4 inhibitor HPP737 to a global license, contingent upon a $20 million upfront fee and potential milestones totaling up to$76 million[2] - Azeliragon received Orphan Drug Designation from the FDA for pancreatic cancer and glioblastoma, with potential revenue sharing of 20-40% from licensing income[3]