vTv Therapeutics Inc. (VTVT) saw its loss widen to $4.22 million, or $0.44 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.85 million, or $0.42 a share.
Revenue during the quarter plunged 92.02 percent to $0.03 million from $0.38 million in the previous year period.
Operating loss for the quarter was $13.75 million, compared with an operating loss of $13.54 million in the previous year period.
"vTv remains committed to advancing the science behind our innovative approach to Alzheimer’s disease and type 2 diabetes," said Steve Holcombe, president and CEO of vTv Therapeutics. "As we anticipate completing enrollment of the second and final cohort of our Phase 3 trial during the second quarter, we are hopeful that our unique hypothesis in targeting the receptor for advanced glycation endproducts (RAGE) will position us to be the first biopharmaceutical company to bring an investigational therapy before the FDA that could potentially slow the progression of Alzheimer's disease."
Working capital drops significantly
vTv Therapeutics has witnessed a decline in the working capital over the last year. It stood at $34.82 million as at Mar. 31, 2017, down 49.07 percent or $33.56 million from $68.38 million on Mar. 31, 2016. Current ratio was at 4.13 as on Mar. 31, 2017, down from 8.88 on Mar. 31, 2016.
Days sales outstanding went up to 104 days for the quarter compared with 8 days for the same period last year.
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