Investor Alert

Dow Jones Newswires Archives | Email alerts

Dec. 6, 2021, 6:45 p.m. EST

VTv Therapeutics Cuts 65% of Workforce, Focuses on Diabetes Drug TTP399

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

VTv Therapeutics Inc. said it reduced its workforce by about 65% as it prioritizes development of diabetes drug TTP399.

The company also said it added several consultants with track records of drug approvals. On Nov. 9, vTv said it would focus on TTP399 and on TTP273 as a potential treatment for patients with cystic fibrosis-related diabetes. It said it would pause development activities in the U.S. on HPP737 for psoriasis, and said it would consider cost-cutting moves that could include workforce reductions.

"It is always difficult to restructure but this allows us to focus on TTP399 and our future growth," the company said Monday. VTv said, "we are very excited to see TTP399's novel mechanism of action allowing for reduction of hypoglycemic episodes with a well-tolerated safety profile," and adding, "we continue to engage with the FDA to map out a clear and positive path forward on our Phase 3 pivotal studies."

Shares rose 8% to $1.22 after hours.

Write to Josh Beckerman at josh.beckerman@wsj.com

This Story has 0 Comments
Be the first to comment
More News In
Dow Jones Newswires

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.