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vTv Therapeutics Inc. (VTVT+1.40%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $18.5 million for the year, compared to a net loss of $20.3 million in the previous year. The company attributes the decrease in net loss primarily to lower research and development expenses.
Research and development expenses decreased by $2.0 million to $11.5 million, primarily due to reduced spending on their lead product candidate, cadisegliatin, as well as other projects.
General and administrative expenses increased by $1.7 million to $13.7 million, driven by higher payroll and share-based compensation expenses.
vTv Therapeutics Inc. reported revenue of $1.0 million for the year, attributed to the satisfaction of a development milestone under the Newsoara License Agreement.
The company raised $51.0 million in gross proceeds from a private placement financing and an additional $2.5 million from an ATM offering during the year to fund ongoing operations.
vTv Therapeutics Inc. continues to focus on the development of cadisegliatin as a potential adjunctive therapy for type 1 diabetes, with plans to resume their Phase 3 trial in the second quarter of 2025.
The company acknowledges substantial doubt about its ability to continue as a going concern, citing the need for additional capital to fund its operations beyond the first quarter of 2026.
vTv Therapeutics Inc. is evaluating several financing strategies, including direct equity investments and licensing opportunities, to meet its future funding requirements.
The filing details various collaboration agreements, including the G42 Purchase Agreement and the Cogna Collaborative and License Agreement, which involve the development and commercialization of cadisegliatin in certain territories.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the vTv Therapeutics Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.