vTv Therapeutics Swings to $1.05/Shr Loss in Q2 After Q1 Profit
VTVT has more than doubled off its 52-week low of $14.
Summary
vTv Therapeutics reported a Q2 loss of $1.05 per share, a sharp reversal from the $24.1M net income in Q1. The Q1 profit was driven by new licensing revenue that boosted cash to $98.1M, but Q2 results suggest that revenue stream did not repeat. The Q2 net loss widened due to higher trial costs. With a market cap of ~$135M and a $36 stock price, the loss is material. The company had recently expanded its ATM program to $47.5M, and this earnings miss may accelerate dilution concerns. No forward guidance was provided.
At the time of this announcement, VTVT was trading at $36.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $135.5M. The 52-week trading range was $14.00 to $44.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.