Wed. Dec 11th, 2019

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Current Movement: vTv Therapeutics Inc. (Nasdaq:VTVT)

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vTv Therapeutics Inc. (Nasdaq:VTVT) newly stated fiscal results for the 3rd-quarter that finished September 30, 2k19,

2nd-Quarter 2k19 Fiscal Results

  • Cash Position: Cash and cash equivalents as of September 30, 2k19, were $2.40M contrast to $1.500M as of June 30, 2k19.
  • Revenue: Revenues were not material for the 3rd-quarter of 2k19 as compared to $1.80M in the 2nd-quarter of 2k19. Revenue recognized in the 2nd-quarter of 2k19 was because of a milestone recognized under our license agreement with Newsoara and the continued amortization of revenue from our license agreement with Reneo over the transfer services duration.
  • R&D Costs: Research and development costs were $3.70M in the 3rd-quarter of 2k19 and $4.20M in the 2nd-quarter of 2k19. The decline in these costs was driven mainly by the declines in costs for the Elevage Study. Such costs were higher in the 2nd-quarter of 2k19 as we were performing startup activities related to the sites and initiation of patient enrollment.
  • G&A Costs: General and administrative costs were $1.80M and $2.40M in each of the 3rd-and 2nd-quarters of 2k19, respectively. The decline in these costs is related to the recognition of a gain on the sale of laboratory equipment in the 3rd-quarter of 2k19 in addition to overall lower spending in the quarter.
  • Net Loss Before Non-Controlling Interest: Net loss before non-controlling interest was $6.00M for the 3rd-quarter of 2k19 contrast to net loss before non-controlling interest of $5.10M for the 2nd-quarter of 2k19.
  • Net Loss for each Share: GAAP net loss for each share was $0.130 and $0.100 for the three months finished September 30, 2k19 and June 30, 2k19, respectively, based on weighted-average shares of 32.10M and 28.0M for the three month durations finished September 30, 2k19 and June 30, 2k19, respectively. Non-GAAP net loss for each fully exchanged share was $0.100 and $0.090 for the three months finished September 30, 2k19 and June 30, 2k19, respectively, based on non-GAAP fully exchanged weighted-average shares of 55.20M and 51.10M for the three months finished September 30, 2k19 and June 30, 2k19, respectively.

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