vTv Therapeutics (VTVT): All Systems Go - HC Wainwright
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H.C. Wainwright analyst, Corey Davis, reiterated his Buy rating on shares of vTv Therapeutics (NASDAQ: VTVT) on the belief that diabetes compounds' data should be determinant for stock.
In its 3Q16 earnings release, vTv confirmed that there are no changes to the anticipated clinical timeline of the azeliragon Phase 3 program or the Phase 2 data on '273 by year-end. Due to the inherent challenges for any new Alzheimer's drug, the analyst believes '273 and '399 deserve more focus in the near term. In August, '399 (a glucokinase activator [GKA]) demonstrated positive 6-month Phase 2b data in Type-2 diabetes, but there were few details released. Given the history of difficulties with this class of drug, the company has opted for a complete publication prior to revealing anything more. Although the compound should be ripe for partnering, it could be a tougher sell, given the magnitude of expense for Phase 3 and the required length of trials. Therefore, the publication needs to demonstrate a pristine profile before any would-be partner is likely to commit the necessary funding. The Phase 2 data from the oral GLP-1, '273, could be even more exciting as this class has been very well validated, as a target and commercially. Yet all five approved GLP-1 receptor agonists on the market are injectibles. The company expects the 3-month LOGRA trial to readout in December, and could hold very promising partnering potential assuming the efficacy data is positive and that it continues to show low rates of GI side effects.
Shares of vTv Therapeutics closed at $4.82 yesterday.
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