vTv Therapeutics Inc. (VTVT) stock was declining today following the announcement of results from a Mechanistic study. VTVT stock price saw a decline of 3.14% to reach $1.54 a share at the time of this writing. The stock went previously low and went down by $1.24% at closing. Let’s understand more about this stock.
What’s Happening?
VTVT stock today announced the positive results from a mechanistic study of TTP399 in patients suffering from type 1 diabetes. According to the study results, type 1 diabetes patients who took TTP399 did not show an increase in the ketone level relative to placebo during the acute insulin withdrawal period. This indicates that they have no increased risk of ketoacidosis. The new data obtained from the study is consistent with the previous clinical studies. The TTP399 treated group showed improved fasting plasma glucose levels and fewer hypoglycemic events one week before the insulin withdrawal test.
23 individuals with type 1 diabetes using insulin pump participated in the study. They received TTP399 (n=12) or placebo (n=11) orally on daily basis for approximately seven days. The study team perform the acute insulin withdrawal test via stopping the insulin pump of the patient and measured the beta-hydroxybutyrate levels and other key metabolic markers for 10 hours. The study met the primary endpoint of non-inferiority on the measurement of key blood ketone levels. vTv Therapeutics expects that the startup activities of the phase 3 program will initiate in early 2022.
Multiple Ascending Dose Study of VTVT stock:
On September 23, 2021, VTVT stock did announce the results of a multiple ascending dose study that evaluated HPP737 which is the orally administered phosphodiesterase type 4 inhibitor, in healthy adults. 12 subjects participated in each of the two-dose cohorts 15mg and 20mg of HPP737 for 14 days. The safety and tolerance profile were favorable for HPP737 with no gastrointestinal side effects.
Financial View of VTVT stock:
In the second quarter of 2021, the company reported an insignificant amount of revenue while in the first quarter, the revenue amounted to $1.0 million. vTv Therapeutics spent $2.4 million in research and development expenses in the second quarter of 2021 as compared to $3.1 million in the same tenure of the previous year. General and administrative expenses for the second quarter were $2.2 million for the VTVT stock. The company suffered a net loss of $0.01 per share for the second quarter of 2021, compared to $0.08 per share in Q2,2020. By the end of the second quarter, VTVT stock had $10.8 million in its cash position.
