HIGH POINT — High Point-based clinical biopharmaceutical company VTV Therapeutics Inc. (NasdaqCM: VTVT) reported a third quarter net loss of $2 million as well as updates on its Alzheimer’s treatment Azeliragon

The $2 million net loss for the quarter was a $7.6 million improvement from VTV’s second quarter net loss of $9.6 million.

This improvement in net loss was due in part to changes in research and development expenses and general and administrative expenses.

Third quarter research and development expenses decreased to $2.7 million from $8.6 million in the second quarter. This is due in part to the second quarter termination of a study that aimed to investigate the safety and efficacy of Azeliragon as a potential treatment for patients with mild Alzheimer’s disease.

“We continue to believe in the therapeutic potential of Azeliragon and are committed to finding the optimal development pathway forward for the program,” said CEO Steve Holcombe in a statement.

General administrative expenses also fell to $2.2 million in the third quarter from $2.7 million in the second quarter due to reduced share-based compensation expense and professional service fees.

The company’s cash in the third quarter also grew to $3.8 million from $1.2 million at the end of the second quarter.

VTV also announced that it presented positive findings indicating a potential benefit of treatment with Azeliragon in Alzheimer’s disease patients with type 2 diabetes.

Representatives from the company also met with the Scientific Advice Working Party of the European Medicines Agency to discuss future development requirements in support of seeking regulatory approval of Azeliragon in the European Union.

VTV expects formal guidance from the party in the fourth quarter.

The company is also continuing to sign up patients with type 1 diabetes for its SimplicT-1 Study for its TTP399 drug, a regulator of glucose homeostasis meant to work as an add-on to insulin therapy.

VTvT was trading at $2.63 per share, a decrease of three cents, midday Friday.

This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism