vTv Therapeutics (VTVT) Q2 2026 earnings summary

Executive summary

• Focused on developing oral, small molecule drug candidates for diabetes and chronic diseases, with lead candidate cadisegliatin in Phase 3 for type 1 diabetes.

• Enrollment for the Phase 3 CATT1 trial evaluating cadisegliatin in type 1 diabetes is expected to complete in Q3 2026, with topline data anticipated thereafter.

• No product revenue to date; revenue derived from milestone payments, upfront proceeds, and research fees under collaboration and license agreements.

• Recent period marked by significant collaboration and licensing activity, including a $20M upfront payment from Newsoara and $16.9M license revenue from G42.

• A Phase 2a Hybrid CATT1 trial for cadisegliatin in T1D patients using hybrid closed-loop insulin systems will begin before year-end 2026.

Financial highlights

• Revenue for six months ended June 30, 2026 was $36.8M, compared to $0 in the prior year period.

• Net income for six months ended June 30, 2026 was $11.1M, compared to a net loss of $11.1M in the prior year.

• For the three months ended June 30, 2026, net loss was $13.1M, compared to $6.0M in the prior year quarter.

• Research and development expenses increased 156% year-over-year to $17.7M for the six months ended June 30, 2026; Q2 2026 R&D expenses were $8.8M, up from $4.1M in Q2 2025.

• General and administrative expenses rose 33.8% year-over-year to $9.8M for the six months ended June 30, 2026; Q2 2026 G&A expenses were $5.2M, up from $3.6M in Q2 2025.

• Cash and cash equivalents as of June 30, 2026 were $86.6M, compared to $88.9M at December 31, 2025.

Outlook and guidance

• Expects continued losses and negative cash flow from operations as clinical trials progress.

• Current cash position is expected to fund operations through the anticipated CATT1 topline data readout.

• Additional capital will be needed to fund ongoing and future operations; evaluating financing strategies including equity investments and licensing.

• Enrollment for the CATT1 Phase 3 trial of cadisegliatin expected to complete in Q3 2026; further registrational studies planned for 2027.

• Upcoming participation in major healthcare investment conferences in September 2026.