• Mon. Sep 26th, 2022

Why vTv Therapeutics (VTVT) Shares Are Jumping Today

ByVandana Singh

Jul 25, 2022
Why vTv Therapeutics (VTVT) Shares Are Jumping Today

  • CinPax LLC has acquired around 4.1 million shares of vTv Therapeutics Inc VTVT at approximately $2.41 per share, with $6 million paid in cash at closing and the remaining $4 million payable on November 22.
  • The agreements also provide for the issuance of 1.2 million warrants to CinRx to acquire additional shares that become exercisable upon agreed vesting triggers (including FDA approval of TTP399). 
  • In addition to the investment, vTv will leverage the CinRx team’s industry experience to collaborate on the oversight of the clinical trials for pharmaceutical products that contain TTP399.
  • “In addition to the $10 million investment, the CinRx team brings exceptional industry experience in developing therapeutics. On top of last month’s announcement of G42 Healthcare’s $25 million investment into vTv, this investment provides additional funding towards our Phase 3 clinical trials for TTP399,” said Rich Nelson, Interim CEO of vTv.
  • In June, vTv Therapeutics announced agreements that include a $25 million investment by G42 Investments AI Holding RSC Ltd and the potential issuance of $30 million in additional shares subject to FDA approval for TTP399.
  • Price Action: VTVT shares are up 19.46% at $0.86 during the premarket session on the last check Monday.



Image and article originally from www.benzinga.com. Read the original article here.