vTv Therapeutics Announces Sale Of Shares In Reneo Pharmaceuticals For Proceeds Of $4.4M
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vTv Therapeutics Inc. (NASDAQ:VTVT) has sold all of its common stock in Reneo Pharmaceuticals for approximately $4.4 million. The proceeds will support vTv's preparations for the launch of the cadisegliatin Phase 3 program in type 1 diabetes. vTv remains eligible to receive up to $94.5 million in milestones, as well as royalties on potential sales of products under the Reneo license agreement.
November 01, 2023 | 12:02 pm
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vTv Therapeutics has sold its Reneo Pharmaceuticals stock for $4.4 million, which will support its cadisegliatin Phase 3 program. The company could receive up to $94.5 million in milestones and royalties under the Reneo license agreement.
The sale of Reneo Pharmaceuticals stock provides vTv Therapeutics with financial support for its cadisegliatin Phase 3 program. The potential for additional income from milestones and royalties under the Reneo license agreement could also positively impact the company's financial position and stock price.
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