VTV Therapeutics Regains Compliance with NASDAQ

Biopharmaceutical company VTV Therapeutics Inc. has regained compliance with NASDAQ and is no longer under threat of being delisted as of Sept. 14, according to a filing with the Securities and Exchange Commission.

The market value of VTV Therapeutics has been above $50 million for 10 consecutive days.

The company received a letter in June that the stock had 180 calendar days or until Dec. 26 to regain compliance because the market value of listed securities had been below $50 million for 30 consecutive days.

According to the filing, based on the closing trading price of Class A common stock on Sept. 14, the company’s total market capitalization was $176.2 million, allowing for the full exchange of Class B common stock and VTV LLC units for shares of Class A common stock.

The company announced a partnership this month with JDRF, a charity dedicated to funding type 1 diabetes, to fund a study on a drug therapy to target diabetes.

JDRF is giving VTV Therapeutics $3 million for the phase 2 study of the drug called TTP399. VTV will match this $3 million.

VTV Therapeutics, formerly TransTech Pharma, went public in 2015.

The company stock is trading at $5.94, down 2 cents, in Tuesday morning trading.

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