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vTv Therapeutics Announces 2023 Fourth Quarter and Full Year Financial Results and Provides Corporate Update
Recently completed $51 million PIPE from healthcare-focused institutional investors and the JDRF T1D Fund.Company's first Phase 3 clinical trial of
About this update from Vtv Therapeutics Inc.
[{"type":"text","content":" Recently completed $51 million PIPE from healthcare-focused institutional investors and the JDRF T1D Fund.Company's first Phase 3 clinical trial of cadisegliatin (TTP399), an oral adjunctive therapy to insulin, for the treatment of type 1 diabetes, expected to initiate patient enrollment in the second quarter of 2024.In connection with the PIPE, vTv has reduced the size of its Board of Directors from nine to seven members. Three of the Board members will be designated by the new investors, and include Srinivas Akkaraju, MD, PhD, Founder and Managing General Partner at Samsara. HIGH POINT, N.C., March 13, 2024 (GLOBE NEWSWIRE) -- vTv Therapeutics Inc. (Nasdaq: VTVT), a clinical stage biopharmaceutical company focused on the development of an oral adjunctive therapy to insulin for the treatment of type 1 diabetes (T1D), today reported financial results for the fourth quarter and year ended December 31, 2023, and provided an update on recent corporate developments. “We made important progress in the fourth quarter of 2023 and have started 2024 on a positive note following the recently announced private placement through which we raised $51 million, providing us with the capital needed to conduct the first Phase 3 study of cadisegliatin and reach a critical inflection point for our Company with the release of top-line data from this trial, which we expect by the first quarter of 2026,” said Paul Sekhri, Chief Executive Officer of vTv. “With the submission of the study protocol to the FDA, we are beginning site activation activities and are on-track to enroll the first patient in the second quarter, which we believe will enable us to expeditiously confirm the safety and efficacy profile of cadisegliatin. We believe that the support of these world-class investors underscores both the significant potential of cadisegliatin as well as the urgent unmet need for new therapies in T1D. Further, we continue working closely with our partners at G42 in preparation to initiate the Phase 2 study of cadisegliatin in patients with type 2 diabetes which is expected later this year. 2024 has the potential to be a transformational year for vTv, and we look forward to sharing updates on our progress as we continue to advance.” Recent Company Highlights On March 4, 2024, the Company announced the submission of the study protocol to the FDA for the Com...