vTv Therapeutics Inc. VTVT
We are a late-stage biopharmaceutical company focused on developing orally administered therapies for metabolic and inflammatory diseases with the goal of improving patient outcomes. Our lead product candidate, cadisegliatin (TTP399), is a novel, small-molecule, liver-selective glucokinase activator (GKA) currently being evaluated in a Phase 3 clinical trial as a potential oral adjunctive therapy to insulin for the treatment of type 1 diabetes (T1D). The Cadisegliatin as Adjunctive Therapy to Insulin in Participants with Type 1 Diabetes ("CATT1") Phase 3 clinical trial is a randomized, double-blind, placebo-controlled trial designed to evaluate the effect of cadisegliatin on hypoglycemia outcomes in patients with T1D. The primary endpoint is the reduction in the frequency of Level 2 hypoglycemia (blood glucose <54 mg/dL) and Level 3 (severe) hypoglycemia over a six-month treatment period. A key secondary endpoint is change in hemoglobin A1c (HbA1c), a standard measure of glycemic control, to assess cadisegliatin's potential to reduce hyperglycemia. The CATT1 trial will randomize 150 patients with T1D on a 1:1:1 basis (50 patients per study arm) to receive 800 mg cadisegliatin daily, 800 mg cadisegliatin twice daily, or placebo.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $1.0M | $0 | $2.0M | $4.0M | $6.4M | $2.8M | $12.4M | $291.0K | $634.0K |
| R&D | $17.9M | $11.5M | $13.6M | $12.4M | $13.3M | $11.0M | $15.1M | $23.0M | $39.6M | $45.0M |
| SG&A | $14.9M | $13.7M | $11.9M | $12.2M | $12.3M | $7.3M | $8.5M | $9.2M | $11.3M | $9.9M |
| Total operating expenses | $32.8M | $25.2M | $25.5M | $24.6M | $25.7M | $18.3M | $23.7M | $32.3M | $51.0M | $55.7M |
| Operating income | -$32.8M | -$24.2M | -$25.5M | -$22.5M | -$21.7M | -$11.9M | -$20.9M | -$19.8M | -$50.7M | -$55.0M |
| Interest expense | — | $0 | $13.0K | $15.0K | $12.0K | $692.0K | $1.8M | $3.3M | $3.1M | $398.0K |
| Pre-tax income | -$31.1M | -$22.6M | -$26.0M | -$24.9M | -$17.6M | -$12.8M | -$21.8M | -$23.6M | -$53.8M | -$55.4M |
| Income tax | $0 | $100.0K | $0 | $200.0K | $115.0K | $0 | $100.0K | $200.0K | $800.0K | $0 |
| Net income | -$27.0M | -$18.5M | -$20.2M | -$19.2M | -$13.0M | -$8.5M | -$13.0M | -$7.9M | -$16.1M | -$16.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $88.9M | $36.7M | $9.4M | $12.1M | $13.4M | $5.7M | $4.3M | $4.2M | $14.4M | $51.5M |
| Receivables | — | $62.0K | $102.0K | $173.0K | $57.0K | $158.0K | $5.0K | $0 | $8.0M | $0 |
| Total current assets | $89.9M | $38.1M | $10.7M | $27.1M | $15.6M | $7.2M | $2.8M | $3.5M | $20.4M | $52.1M |
| Property, plant and equipment | — | $28.0K | $117.0K | $207.0K | $278.0K | $367.0K | $461.0K | $70.0K | $283.0K | $444.0K |
| Total assets | $89.9M | $38.3M | $11.0M | $33.2M | $25.5M | $14.8M | $9.3M | $8.6M | $27.9M | $54.5M |
| Accounts payable | $1.1M | $939.0K | $4.1M | $2.5M | $1.9M | $1.9M | $2.2M | $2.9M | $2.3M | $3.1M |
| Short-term debt | — | — | — | — | $256.0K | $84.0K | $144.0K | $216.0K | — | — |
| Total current liabilities | $6.6M | $5.2M | $10.6M | $7.7M | $8.5M | $6.4M | $13.4M | $18.8M | $26.9M | $11.4M |
| Long-term debt | — | — | — | — | — | — | $5.0M | $15.1M | — | $11.1M |
| Total liabilities | $25.5M | $24.0M | $29.6M | $27.4M | $10.3M | $11.0M | $18.1M | $28.9M | $47.5M | $22.9M |
| Retained earnings | -$326.7M | -$299.7M | -$281.0M | -$265.5M | -$248.8M | -$290.0M | -$233.5M | -$233.9M | -$279.1M | -$215.5M |
| Total equity | $64.4M | $12.2M | -$24.7M | -$10.7M | -$9.7M | -$80.1M | -$49.0M | -$82.9M | -$151.0M | -$90.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.3M | -$25.3M | -$19.1M | -$16.0M | -$19.3M | -$18.0M | -$23.0M | -$26.9M | -$44.6M | -$48.2M |
| Depreciation and amortisation | $16.0K | $89.0K | $90.0K | $92.0K | $89.0K | $94.0K | $39.0K | $218.0K | $197.0K | $265.0K |
| Stock-based compensation | $3.8M | $2.8M | $1.6M | $1.3M | $2.4M | $1.0M | $1.5M | $2.7M | $3.6M | $2.6M |
| Capital expenditure | — | $0 | $0 | $21.0K | $0 | $0 | $70.0K | $5.0K | $57.0K | $87.0K |
| Investing cash flow | $0 | $0 | $4.4M | -$21.0K | $0 | $0 | $242.0K | $7.0K | -$25.0K | -$83.0K |
| Financing cash flow | $77.4M | $52.6M | $12.0M | $14.8M | $27.0M | $19.5M | $22.9M | $16.6M | $7.5M | $11.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001641489-26-000015.
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