vTv Therapeutics Inc. (VTVT) has skyrocketed in the aftermarket by experiencing an increase of 15.82%. This increase was observed after VTVT announced the results of the Multiple Ascending Dose Study and Development Plan for HPP737. However, the last trading session concluded at $1.77 with an incline of 4.12%.
Results of Multiple Ascending Dose Study and Development Plan for HPP737
VTVT announced the results of the multiple ascending dose studies on 23rd September 2021. HPP737 was evaluated in healthy people in a multiple ascending dosage trial. Twelve individuals received HPP737 or a placebo. Dose escalation up to 20mg/day resulted in dose proportionate increases in exposure.
There were no severe side effects of treatment interruptions owing to treatment-emergent side effects. As a result, VTVT thinks that the existing safety profile permits it to proceed with the development of medication. It may produce anti-inflammatory and anti-psoriatic effects without the substantial side effects associated with previous PDE4 inhibitors.
VTVT Second Quarter Financial Results 2021
VTVT reported second-quarter 2021 financial results on 4th August 2021. As of June 30, 2021, the Company has $10.8 million in cash on hand, compared to $8.4 million as of March 31, 2021.
Secondly, revenues were $1.0 million in the first quarter of 2021. The first quarter’s revenue was non-cash. Thirdly, for the three months ending June 30, 2021, and March 31, 2021, respectively, research and development expenses were $2.4 million and $3.1 million.
This $0.7 million drop was mostly due to lower spending for the Elevage research, since the analysis and close out of this study happened predominantly in the first quarter, as well as lower cost for our HPP737 in psoriasis study.
Lastly, for the three months ended June 30, 2021, and March 31, 2021, general and administrative expenses remained constant at $2.2 million.
Strategic Licensing Agreement for Development and Commercialization of Azeliragon for Treatment of Cancer
VTVT announced on 22 June 2021 that Cantex has received exclusive worldwide rights to develop and market azeliragon, vTv’s new opponent of RAGE, as part of a licensing deal. Their team has extensive experience and a proven track record of successfully converting well-known medicines. We plan to work quickly to prepare for clinical trials evaluating the potential of azeliragon for the treatment of a variety of cancer-related problems.