HIGH POINT — vTv Therapeutics, a clinical-stage biopharmaceutical company that is developing a pipeline of clinical drug candidates for the treatment of Alzheimer’s disease, diabetes, and inflammatory disorders, on Thursday reported a loss of $4.4 million in its fourth quarter.
On a per-share basis, the High Point, North Carolina-based company said it had a loss of 13 cents. Losses, adjusted for non-recurring costs, were 11 cents per share.
The biopharmaceutical company posted revenue of $7,000 in the period.
For the year, the company reported that its loss widened to $13 million, or 59 cents per share. Revenue was reported as $2.8 million.
In the final minutes of trading on Thursday, the company’s shares hit $2.93. A year ago, they were trading at $2.30.
Back in April 2018, the firm disclosed disappointing results from the clinical trial of an experimental Alzheimer’s medication. It announced that the Phase 3 clinical trial assessing the effects of the drug Azeliragon in patients with mild Alzheimer’s disease failed to achieve either co-primary endpoint.
The drug was intended to delay cognitive decline in patients. The company began the Phase 3 trial in 2015 after nearly 20 years of research and development.