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Here are 1-3 brief analogies to describe vTv Therapeutics (VTVT):

• Like a pre-breakthrough Moderna, but developing treatments for diabetes and neurological diseases instead of vaccines.
• An early-stage Eli Lilly, focused solely on developing a few key oral drugs for diabetes.

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• TTP399: An oral glucokinase activator undergoing development as an adjunctive treatment for Type 1 Diabetes.
• HPP737: An oral phosphodiesterase 4 (PDE4) inhibitor being developed for the treatment of inflammatory diseases like psoriasis and atopic dermatitis.

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VERIFICATION: The provided business description for vTv Therapeutics (VTVT) as a "clinical-stage biopharmaceutical company [that] discovers and develops orally administered small molecule drug candidates" aligns with our information for the company. This confirms the correct company has been selected.

vTv Therapeutics (VTVT) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel small molecule drug candidates. As such, it does not have "customers" in the traditional sense of selling finished products directly to individuals (patients) or to other companies for immediate resale. Instead, its business model revolves around advancing its drug pipeline through clinical trials and then:

• Licensing its drug candidates or intellectual property: To other pharmaceutical companies for further development, manufacturing, and commercialization.
• Securing grants and research funding: From non-profit organizations or government agencies to support its ongoing research and development efforts.

Based on recent financial disclosures and public information, the company's major "customers" or partners in the context of licensing its drug candidates include:

• CinRx Pharma, LLC: CinRx Pharma, a privately held clinical-stage biopharmaceutical company, entered into an exclusive worldwide license agreement with vTv Therapeutics in December 2021. Under this agreement, CinRx Pharma licensed TTP399, vTv Therapeutics' lead drug candidate for the potential treatment of Type 1 Diabetes. This licensing agreement has been a significant source of collaboration revenue for vTv Therapeutics. As CinRx Pharma is a private company, it does not have a public stock symbol.

Additionally, vTv Therapeutics has received grants from various organizations to fund its research and development programs, which are crucial for its operations. These include entities such as the Juvenile Diabetes Research Foundation (JDRF), the National Institutes of Health (NIH), and the Michael J. Fox Foundation. While these organizations are not "customers" in the commercial sense, they represent significant sources of funding and strategic partnerships for the company's therapeutic development.

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• IQVIA Holdings Inc. (IQV)
• Parexel International

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Paul Sekhri Chairman, President and Chief Executive Officer

Mr. Sekhri has over 35 years of experience in the Life Science Industry, with senior management roles in large corporate pharmaceutical and biotechnology companies, as well as private equity and venture capital. He is currently Chairman, President, and Chief Executive Officer of vTv Therapeutics, Inc. Mr. Sekhri previously served as President and CEO of eGenesis, Inc. from 2019 to 2022 and Lycera Corp. from 2015 to 2018. His past experience includes Senior Vice President, Integrated Care for Sanofi, Group Executive Vice President, Global Business Development and Chief Strategy Officer for Teva Pharmaceutical Industries, Ltd., and five years as Operating Partner and Head of the Biotechnology Operating Group at TPG Biotech, a life sciences venture capital arm of TPG Capital. Mr. Sekhri founded Cerimon Pharmaceuticals, Inc., serving as its President and Chief Executive Officer from 2004 to 2009. He also held positions as President and Chief Business Officer of ARIAD Pharmaceuticals, Inc. and Senior Vice President, Head of Global Search and Evaluation, Business Development and Licensing for Novartis Pharma AG.

Dr. Michael Tung Chief Financial Officer

Dr. Tung earned B.A. and B.S. degrees in economics and biology from The George Washington University, and a combined M.D./MBA from Tufts University School of Medicine. He is a licensed physician in the states of Massachusetts and New York. He was appointed Executive Vice President, effective May 19, 2025, and is listed as the Chief Financial Officer.

Carmen Valcarce, Ph.D. Executive Vice President, Chief Scientific Officer

Dr. Valcarce possesses over 30 years of pharmaceutical research and development experience, primarily focused on the metabolic space. She was instrumental in the clinical development of TTP399, vTv's Glucokinase Activator program, and was a member of the vTv IPO team, joining the company through its partnership with Novo Nordisk. Throughout her career, she has managed more than 12 Investigational New Drug (IND) applications and successfully conducted numerous clinical studies in the field of diabetes.

Rich Nelson Executive Vice President, Corporate Development

Mr. Nelson brings more than 25 years of experience in mergers, acquisitions, and capital raising. He also serves as Executive Vice President Corporate Development for Vericast, where he is responsible for identifying and executing global merger and acquisition opportunities. His previous roles include Senior Vice President of Global Corporate Development at The Nielsen Company, Managing Director, Mergers and Acquisitions at IAC/InterActive Corp., and President and Co-Founder of Trendum (now Nielsen BuzzMetrics). He was also SVP/General Counsel of RSL Communications and started his career as a mergers and acquisition attorney at Skadden Arps. Mr. Nelson served as Acting Chief Executive Officer of vTv Therapeutics in March 2022. He is an active venture investor and advisor to various stage private companies.

Barry Brown Chief Accounting Officer

Mr. Brown serves as the Chief Accounting Officer for vTv Therapeutics.

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The key risks to vTv Therapeutics' business are primarily associated with its status as a clinical-stage biopharmaceutical company focused on developing new drug candidates.

1. Clinical Trial Outcomes and Regulatory Approval: The company's success heavily relies on the successful development and regulatory approval of its lead drug candidate, cadisegliatin (TTP399), which is currently in Phase 3 trials for type 1 diabetes (T1D). There is inherent uncertainty in clinical trials, and there is no guarantee that cadisegliatin will demonstrate sufficient efficacy and safety to gain regulatory approval from bodies like the FDA. Previous attempts to approve similar drug classes (SGLT inhibitors) for T1D have faced safety concerns, particularly regarding diabetic ketoacidosis (DKA), which could pose challenges for new treatments in this area. The actual results and timing of events could differ materially from anticipated outcomes, as highlighted in the company's forward-looking statements.
2. Financial Sustainability and Need for Future Funding: vTv Therapeutics is an unprofitable, clinical-stage company that incurs significant research and development (R&D) and general and administrative expenses, leading to ongoing net losses. Although the company recently completed an $80 million private placement in September 2025, providing a cash runway of approximately 4.7 years as of that time, continued development of its pipeline is capital-intensive. There is a risk that the company will require substantial additional funding in the future, which could lead to further equity dilution for existing shareholders or other potentially unfavorable financing terms if clinical programs do not progress as expected.
3. Competition and Market Acceptance: Even if cadisegliatin successfully navigates clinical trials and receives regulatory approval, it will enter a competitive market for type 1 diabetes treatments. While vTv Therapeutics emphasizes the unmet need for oral treatment options, other therapies, including alternative therapeutic modalities like monoclonal antibodies, are also under clinical investigation. The drug's commercial success will depend on factors such as its efficacy, safety profile compared to existing and emerging treatments, physician and patient adoption, and the ability to secure favorable reimbursement.

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The advancement of cell therapies, particularly stem cell-derived islet cell transplantation therapies such as Vertex Pharmaceuticals' VX-880 for Type 1 Diabetes (T1D), represents a clear emerging threat. While vTv Therapeutics' TTP399 aims to improve glycemic control and reduce insulin requirements in T1D patients through a daily oral medication, cell therapies like VX-880 are demonstrating the potential for a functional cure and insulin independence. If these curative therapies prove successful, scalable, and widely adopted, they could significantly diminish the market potential and need for long-term T1D management drugs like TTP399.

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Cadisegliatin (TTP399) for Type 1 Diabetes

• Globally, the Type 1 Diabetes market was estimated at approximately USD 15.5 billion in 2024 and is projected to reach USD 21.2 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 5.4% from 2024 to 2030. Other estimates place the global market at USD 16.97 billion in 2025, expanding to USD 26.22 billion by 2032 with a CAGR of 6.4%. Another report estimates the global market at USD 34.87 billion in 2024, potentially reaching around USD 74.03 billion by 2034 with a CAGR of 7.82%.
• In the U.S. alone, the Type 1 Diabetes market was valued at USD 4.2 billion in 2024. The U.S. market size for type 1 diabetes treatment was USD 2573.47 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Another source projects the U.S. market at USD 11.23 billion in 2024, anticipated to reach around USD 24.27 billion by 2034, growing at a CAGR of 8% between 2024 and 2034.
• Across the top seven major markets (U.S., EU4, U.K., and Japan), the Type 1 Diabetes market reached a value of USD 5.9 billion in 2024, with a projected growth to USD 9.6 billion by 2035 at a CAGR of 4.65%.

HPP737 for Psoriasis

• The global psoriasis therapeutics market was valued at USD 22.9 billion in 2021 and is projected to reach USD 55.8 billion by 2031, demonstrating a CAGR of 9.3% from 2022 to 2031.
• Another estimate indicates the global psoriasis drugs market was approximately USD 35 billion in 2025, with a projected CAGR of around 12% through 2033.
• The global psoriasis treatment market size was valued at USD 27.20 billion in 2024 and is projected to grow from USD 29.15 billion in 2025 to USD 57.68 billion by 2032, exhibiting a CAGR of 10.2%.
• North America is a dominant region in the psoriasis treatment market, holding a 74.71% market share in 2024.

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The expected drivers of future revenue growth for vTv Therapeutics (VTVT) over the next 2-3 years are primarily linked to the advancement and potential commercialization of its lead drug candidate, cadisegliatin.

1. Successful Completion and Positive Results from the Phase 3 CATT1 Trial for Cadisegliatin in Type 1 Diabetes (T1D): vTv Therapeutics is currently conducting the Phase 3 CATT1 trial for cadisegliatin as an adjunctive therapy to insulin for treating type 1 diabetes. The company randomized its first patient in August 2025 and anticipates disclosing topline data from this study in the second half of 2026. Positive results from this pivotal trial are crucial for regulatory submissions and eventual market approval, which would be the primary driver of future revenue.
2. Initiation and Progress of International Registrational Trials for Cadisegliatin in T1D: In parallel with the U.S. Phase 3 study, vTv Therapeutics is planning to initiate two international registrational trials for cadisegliatin in type 1 diabetes, with commencement expected in 2026. These trials will be key to expanding the potential market for cadisegliatin beyond the United States, driving international revenue growth in the future.
3. Successful Completion and Positive Results from the Phase 2 Trial of Cadisegliatin in Type 2 Diabetes (T2D): The company is collaborating with G42 Investments to launch a Phase 2 trial in the Middle East, evaluating cadisegliatin in 450 type 2 diabetes patients currently on insulin therapy. This trial is on track to begin in the second half of 2024. Positive outcomes from this Phase 2 study could pave the way for further development in the larger Type 2 diabetes market, representing a significant long-term revenue opportunity.
4. Leveraging an Expanded U.S. Patent Portfolio for Cadisegliatin: vTv Therapeutics has been expanding its U.S. patent portfolio for cadisegliatin. A U.S. patent covering crystalline salts and co-crystals of cadisegliatin was allowed, with exclusivity expected through 2041. This intellectual property protection provides a prolonged period of market exclusivity, safeguarding future revenue streams from cadisegliatin if it reaches commercialization.

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