vTv Therapeutics Inc. Files 2023 Annual Report on Form 10-K

Ticker: VTVT · Form: 10-K · Filed: Mar 13, 2024 · CIK: 1641489

Vtv Therapeutics Inc. 10-K Filing Summary
FieldDetail
CompanyVtv Therapeutics Inc. (VTVT)
Form Type10-K
Filed DateMar 13, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.01, $51.0 m, $30.0 million, $96, $25.0 m
Sentimentneutral

Sentiment: neutral

Topics: 10-K, vTv Therapeutics, Annual Report, Pharmaceuticals, Financials

TL;DR

<b>vTv Therapeutics Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

vTv Therapeutics Inc. (VTVT) filed a Annual Report (10-K) with the SEC on March 13, 2024. vTv Therapeutics Inc. filed its 2023 Form 10-K on March 13, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is in High Point, NC. vTv Therapeutics Inc. was formerly known as VTV Therapeutics Inc. The company is classified under Pharmaceutical Preparations (SIC 2834).

Why It Matters

For investors and stakeholders tracking vTv Therapeutics Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of vTv Therapeutics' financial health, operational status, and strategic direction for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. As a pharmaceutical preparations company, the details within this filing are important for understanding its regulatory compliance, research and development pipeline, and market positioning within the healthcare sector.

Risk Assessment

Risk Level: medium — vTv Therapeutics Inc. shows moderate risk based on this filing. The company's financial performance and future prospects are subject to the inherent risks and uncertainties of drug development and commercialization, as detailed in the risk factors section of the 10-K.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess the company's current financial health and future growth potential.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Reporting period)
  • 2024-03-13 — Filing Date (Date of submission)
  • 2834 — SIC Code (Standard Industrial Classification)

Key Players & Entities

  • vTv Therapeutics Inc. (company) — Filer name
  • VTV Therapeutics Inc. (company) — Former company name
  • High Point, NC (location) — Business address
  • 2023-12-31 (date) — Fiscal year end
  • 2024-03-13 (date) — Filing date

FAQ

When did vTv Therapeutics Inc. file this 10-K?

vTv Therapeutics Inc. filed this Annual Report (10-K) with the SEC on March 13, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by vTv Therapeutics Inc. (VTVT).

Where can I read the original 10-K filing from vTv Therapeutics Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by vTv Therapeutics Inc..

What are the key takeaways from vTv Therapeutics Inc.'s 10-K?

vTv Therapeutics Inc. filed this 10-K on March 13, 2024. Key takeaways: vTv Therapeutics Inc. filed its 2023 Form 10-K on March 13, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal business address is in High Point, NC..

Is vTv Therapeutics Inc. a risky investment based on this filing?

Based on this 10-K, vTv Therapeutics Inc. presents a moderate-risk profile. The company's financial performance and future prospects are subject to the inherent risks and uncertainties of drug development and commercialization, as detailed in the risk factors section of the 10-K.

What should investors do after reading vTv Therapeutics Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess the company's current financial health and future growth potential. The overall sentiment from this filing is neutral.

How does vTv Therapeutics Inc. compare to its industry peers?

vTv Therapeutics Inc. operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of drug candidates.

Are there regulatory concerns for vTv Therapeutics Inc.?

As a pharmaceutical company, vTv Therapeutics is subject to stringent regulations from bodies like the FDA, impacting its research, development, and marketing activities.

Industry Context

vTv Therapeutics Inc. operates within the Pharmaceutical Preparations industry, focusing on the development and commercialization of drug candidates.

Regulatory Implications

As a pharmaceutical company, vTv Therapeutics is subject to stringent regulations from bodies like the FDA, impacting its research, development, and marketing activities.

What Investors Should Do

  1. Review the financial statements for revenue, expenses, and profitability trends.
  2. Analyze the risk factors section for potential challenges and uncertainties.
  3. Examine any disclosed updates on clinical trials or product development pipelines.

Key Dates

  • 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
  • 2024-03-13: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the company's 2023 annual report filing (10-K), providing updated financial and operational information compared to previous filings.

Filing Stats: 4,442 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-03-13 07:58:44

Key Financial Figures

  • $0.01 — stered Class A Common Stock (Par Value $0.01) VTVT NASDAQ Capital Market Securitie
  • $51.0 m — gregate gross proceeds of approximately $51.0 million, before deducting offering expens
  • $30.0 million — e right to purchase up to an additional $30.0 million of Class A common stock 18 months follo
  • $96 — k at a price per share of approximately $96.40, for an aggregate purchase price of
  • $25.0 m — .40, for an aggregate purchase price of $25.0 million, which was paid (i) $12.5 million
  • $12.5 million — ce of $25.0 million, which was paid (i) $12.5 million in cash at the closing and (ii) $12.5 m

Filing Documents

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 54 Item 1C C ybersecurity 54 Item 2.

Properties

Properties 54 Item 3.

Legal Proceedings

Legal Proceedings 54 Item 4. Mine Safety Disclosures 54 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 55 Item 6. [Reserved] 55 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 56 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 65 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 65 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 66 Item 9A.

Controls and Procedures

Controls and Procedures 66 Item 9B. Other Information 67 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 67 PART III Item 10. Directors, Executive Officers and Corporate Governance 68 Item 11.

Executive Compensation

Executive Compensation 68 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 Item 13. Certain Relationships and Related Transactions, and Director Independence 68 Item 14. Principal Accountant Fees and Services 68 PART IV Item 15. Exhibits and Financial Statement Schedules 69 Item 16. Form 10-K Summary 72 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS As used in this Annual Report on Form 10-K, the "Company", the "Registrant", "we" or "us" refer to vTv Therapeutics Inc., and "vTv LLC" refers to vTv Therapeutics LLC. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and related notes that appear elsewhere in this report. In addition to historical financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, assumptions and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this report under "Part I—Item 1A, Risk Factors." Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies and operations, financing plans, potential growth opportunities, potential market opportunities, potential results of our drug development efforts or trials, and the effects of competition. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipates," "believes," "could," "seeks," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "will," "would" or similar expressions and the negatives of those terms. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-l

BUSINESS

ITEM 1. BUSINESS Overview We are a clinical stage biopharmaceutical company focused on the development of orally administered treatments for metabolic and inflammatory diseases to minimize their long-term complications and improve the lives of patients. On February 27, 2024, we closed (the "Closing") a private placement (the "Private Placement") of our Class A common stock and pre-funded warrants, pursuant to which we received aggregate gross proceeds of approximately $51.0 million, before deducting offering expenses payable by us. The securities purchase agreement for the Private Placement, among other things, grants the investors the right to purchase up to an additional $30.0 million of Class A common stock 18 months following the Closing. We anticipate that the financing will enable us to conduct a Phase 3 clinical trial for our lead product candidate, cadisegliatin (TTP399) , an orally administered, small molecule, liver-selective glucokinase activator ("GKA") that is a potential adjunctive therapy to insulin for the treatment of type 1 diabetes. The U.S. Food and Drug Administration ("FDA") granted Breakthrough Therapy designation in 2021 for cadisegliatin as an adjunctive therapy to insulin for the treatment of type 1 diabetes ("T1D"). The Breakthrough Therapy designation provides a sponsor with added support and the potential to expedite development and review timelines for a promising new investigational medicine. The Breakthrough Therapy designation for cadisegliatin in T1D was supported by the positive results from the Phase 2 SimpliciT-1 Study, a multi-center, randomized, double-blind, adaptive study assessing the safety and efficacy of cadisegliatin as an adjunct to insulin therapy in adults with T1D. In this trial, treatment with cadisegliatin resulted in a statistically significant improvement in HbA1c relative to placebo and a clinically meaningful decrease (40%) in the frequency of severe and symptomatic hypoglycemia. Cadisegliatin demonstrated a

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