vTv Therapeutics Inc.

What they do

vTv Therapeutics is a late-stage biopharmaceutical company focused on oral small-molecule therapies for metabolic and inflammatory diseases. Its lead candidate, cadisegliatin (TTP399), is a liver-selective glucokinase activator being evaluated as an adjunctive therapy to insulin in type 1 diabetes. The company also has earlier-stage programs, including a PDE4 inhibitor (HPP737) licensed to Newsoara Biopharma and azeliragon, though revenue to date has come from collaboration and license agreements, not product sales.

Revenue drivers

• License and collaboration agreements — Primary source of revenue; includes a $20.0 million upfront payment from Newsoara Biopharma for HPP737 received in January 2026. Revenue is milestone- and upfront-based, with no product sales.
• G42 Investments partnership — G42 Investments fully funds a Phase 2 trial of cadisegliatin in type 2 diabetes; this provides funding but not direct revenue.
• No product revenue — The company has no approved products and has not generated revenue from drug sales; annual revenue was $1.0M in 2024 and $0.0M in 2025.

Recent performance

For the second quarter of 2026, vTv reported a net loss of $13.1 million ($1.05 per share), compared to a net loss of $6.0 million ($0.92 per share) in the same period of 2025. R&D expenses were $8.8 million in Q2 2026, up from $4.1 million in Q2 2025, driven by the Phase 3 CATT1 trial. Cash and cash equivalents were $86.6 million as of June 30, 2026. The company had no revenue in Q2 2026. For full year 2025, net loss was $27.0 million on zero revenue.

Strategy

vTv's primary goal is to advance cadisegliatin through Phase 3 development, with CATT1 enrollment expected to complete in Q3 2026. The company plans to initiate a Phase 2a hybrid closed-loop trial (Hybrid CATT1) before year-end 2026. It is also working on additional international registrational studies for cadisegliatin in type 1 diabetes. The partnership with G42 Investments funds a Phase 2 trial in type 2 diabetes, and the Newsoara licensing agreement provides upfront and milestone payments. Management emphasizes a strong balance sheet to fund operations through the CATT1 topline readout.

Risks

• Clinical trial risks — Delays in enrollment or completion of the Phase 3 CATT1 trial could materially impact development timelines.
• Regulatory risks — The FDA previously imposed a clinical hold on cadisegliatin in July 2024, and future regulatory limitations could recur.
• Financial sustainability — The company has no approved products and has incurred net losses each year; additional capital may be needed beyond the current cash runway.
• Commercialization risks — Even if approved, cadisegliatin faces competition and must gain market acceptance and reimbursement.

Outlook

Management expects to complete enrollment in the Phase 3 CATT1 trial in Q3 2026 and anticipates sufficient cash to fund operations through the topline data readout. The company plans to initiate the Phase 2a Hybrid CATT1 trial before year-end 2026 and host a Key Opinion Leader event in Q4 2026. It also expects to begin screening for the Phase 2 T2D trial in 2026, funded by G42 Investments.