vTv Therapeutics Inc (VTVT) saw its loss widen to $4.05 million, or $0.42 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3.99 million, or $0.41 a share. Revenue during the quarter was stable at $0.04 million, when compared with the previous year period.
Operating loss for the quarter was $13.31 million, compared with an operating loss of $13.53 million in the previous year period.
“2016 marked a year of substantial progress for vTv, as we achieved numerous milestones in the development of novel therapeutics for Alzheimer’s disease and Type 2 diabetes,” said Steve Holcombe, president and Chief executive officer of vTv Therapeutics. “Our Alzheimer’s program continues to advance as planned, and we welcomed positive Phase 2 results from each of our oral, small molecule drug candidates in Type 2 diabetes.”
Working capital drops significantly
vTv Therapeutics Inc has witnessed a decline in the working capital over the last year. It stood at $40.68 million as at Dec. 31, 2016, down 50.06 percent or $40.78 million from $81.46 million on Dec. 31, 2015. Current ratio was at 4.56 as on Dec. 31, 2016, down from 11.54 on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
