STOCKS TELEGRAPH

Author: ST Staff

  • MercurityFintech Holding Inc. (MFH) stock surged in the premarket trading session; here’s why

    In the premarket trading session, at last check, MercurityFintech Holding Inc. (MFH) stock had surged by 6.84% to $6.09. MFH stock closed the previous session losing -3.39% at $5.70. The MFH stock volume traded 94863.0 shares. In the past year, MFH stock jumped up by156.76%, and in the past week however, it shed -10.80%. In the past three and six months, the MFH stock has plunged by-29.10% and added 74.31% respectively.

    Find out about MercurityFintech Holding’s business operations and model

    MercurityFintech Holding Inc. is an internet retail company that focuses on providing digital asset infrastructure solutions. The company focuses on designing, manufacturing, and installing technological solutions based on blockchain and customizes the solutions as well. The company has expanded its operations in the British Virgin Islands and Asia Pacific region. The client base of MFH stock includes traders, communities, and liquidity merchants. The primary product is an asset digitalization platform which provides traditional assets la blockchain-based digital make-over. The traditional assets include fiat currencies, bonds, and precious metals.

    Blockchain platforms are also decentralized finance platform which are more efficient in terms of cross border payments services through NBpay. MercurityFintech also provides supplemental and customized services which include software development, maintenance, and installation/upgrade services across its platforms. The company was previously known as JMU Limited until April 2020. The origin of the MFH stock started from 2011 and has an HQ in Beijing, China.

    Strategic transformation has consumed major portions of revenues and capital in the first quarter of 2021

    The company is undergoing strategic transition this year, and is focused on carrying out this transition as smoothly and efficiently throughout the year to create a sustainable platform of growth and high-performance execution. The business transition was not 2-dimensional simplistic process that could be carried out beside maintaining normal operations; revenue and time is of utmost utility and consideration during this business transformation as it can be reflected upon the financial result and balance sheet of MFH stock. Another important factor to note about the financial result is that the proceeds and revenue from the DeFi platform has not yet been realized in the report of first quarter 2021.

    The revenues in first-quarter 2021 had dropped to a whopping $81 thousand adjusted to GAAP as compared to $1392 thousand in Q1 2020. Cost of incomes for the principal quarter of 2021 was $35 thousand, contrasted with $79 thousand in a similar period last year. The expense of incomes was essentially owing to coordinate expenses identified with the agreement endorsed in July 2020.

    Net benefit for the main quarter of 2021 was $47 thousand, contrasted with $1,313 thousand in a similar period last year. Loss from operations for the principal quarter of 2021 was $4,554 thousand, contrasted with pay from tasks of $1,068 thousand in a similar period last year. Non-GAAP total deficit inferable from MFH stock for the principal quarter of 2021 was $721 thousand, contrasted with a total compensation of $1,068 thousand in a similar time of last year. Cash and money reciprocals were $287 thousand as of March 31, 2021, contrasted with $175 thousand as of December 31, 2020.

    The company sees uncertainty in the future quarters due to the strategic business transition which is why is MFH stock negates the provision of financial and business outlook.

  • XPeng Inc. (XPEV) Stock Undergoes Minor Volatility Ahead of Approval for Hong Kong Listing

    XPeng Inc. (XPEV) stock prices were down by 8.34% as of the market closing on June 22nd, 2021, bringing the price per share down to USD$39.99 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock rise by 4.68%, bringing the price per share up to USD$41.86.

    Honk Kong Listing

    The New York-traded electric vehicle manufacturer, Xpeng, Inc., has been authorized to be listed on the Hong Kong stock exchange. This move could see the company generate as much as USD$2 billion in Honk Kong as early as the current fiscal year. The company’s American depositary receipts were up at a peak of 4.7% during premarket hours on June 23rd, 2021, with the stock having exhibited a 170% increase since its initial listing in August 2020.

    U.S.-China Tensions

    Xpeng’s inclusion in the Honk Kong listing would end a period that marked an absence of the listing of U.S.-listed Chinese firms. The previous such listing was for the travel firm, Trip.com Ltd., in April 2021, which ended up raising almost USD$1.25 billion. Investors hope Xpeng’s listing marks the resumption of the flocking of U.S.-traded Chinese companies to the Asian financial hub since 2018, when regulations were eased to allow the likes of Alibaba and gaming giant NetEase to list.

    Relations Improving

    Stateside-traded Chinese firms are given scaffolding by a listing in Honk Kong, which acts as a hedge against the risk of being delisted from the U.S. exchanges. This allows the companies to broaden their investor base closer to home. Following a bill passed in the U.S., public Chinese companies could find themselves delisted from U.S. stock bourses if they do not allow their audits to be reviewed by American regulators.

    Landmark Listing

    Xpeng’s listing is a dual primary listing, which means it isn’t exempt from some of the Asian hub’s listing rules like it would be if it were a secondary listing. Because the company has only been public in New York since August 2020, it doesn’t meet the requirement of having a two-year listing history for it to merit a secondary listing in Honk Kong. The primary dual listing will be the biggest of its kind in Honk Kong in almost 3 years, when biotech drugmaker BeiGene Ltd. raised USD$903 million.

    Future Outlook for XPEV

    Armed with a massively expanded potential investor-base, XPEV is poised to capitalize on the broadened opportunities afforded to it from its Hong Kong listing. The company is keen to continue its trajectory of success and usher in unprecedented growth with access to more capital. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • SilverSun Technologies, Inc. (SSNT) Stock Skyrockets Following Announcement of Dividend Payment

    SilverSun Technologies, Inc. (SSNT) stock prices surged by a massive 24.26% as of the market closing on June 22nd, 2021, bringing the price per share up to USD$10.50 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock dip marginally by 2.19%, bringing it down to USD$10.73.

    Implementing Dividend

    The national provider of game-changing business technology solutions announced on June 22nd, 2021 that its Board of Directors had declared the commencement of a special cash dividend on the company’s common stock. The dividend to be paid out has been set at USD$0.60 per share of the company’s common stock, with a record date of July 9th, 2021, and a payment date of July 16th, 2021.

    Sharing Profits

    As the company continues the successful implementation of their business plan, it concluded that a special cash dividend was a suitable way to reward the company’s shareholders for their continued investments and support. As the company makes more money, it plans on sharing the fruits of its labor with investors. Business conditions such as the company’s cash requirements will drive the future payment of dividends. As the company’s financial performance varies over time, the Board of Directors will accordingly adjust any future dividend payout levels.

    Financial Reports

    Total revenues for the quarter ended March 31st, 2021 were reported at USD$10,879,468, up 7.9% from the total revenue reported for the prior year quarter. Software sales exhibited a 13.3% improvement, up to USD$2,004,011 for the 2021 quarter, while services revenues were up 6.8% year-over-year to hit USD$8,875,457. Gross profit came in at USD$4,746,537 in Q1 2021, up 23.2% from the USD$3,852,210 reported in the first quarter of fiscal 2020.

    Net Income & Liquidity Position

    Net income for Q1 2021 came in at USD$354,679, representing a net income of USD$0.07 per basic and diluted share. This is a significant improvement on the USD$292,1155 reported in net loss for the year-ago quarter, representing a net loss of USD$0.06 per basic and diluted share. The company reported a strong liquidity position as of March 31st, 2021, with USD$9,356,136 in cash, USD$1,904,057 in accounts receivable, long term debt of USD$725,416, and total stockholders’ equity of USD$11,688,772.

    Future Outlook for SSNT

    Armed with a solid liquidity position, SSNT is poised to capitalize on the momentum generated from its announcement of dividends on shares of its common stock. The company is keen to continue its trajectory of success with the opportunities afforded to it from its recent surge in equity value. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Volt Stock surged in the after-market trading session; here’s why

    Volt Information Sciences Inc. (VOLT) stock had advanced by 3.94% to trade at the price of $4.75 in the after-hours trading session at the last check. VOLT stock previously closed the session, gaining 5.30% at $4.57. The VOLT stock volume traded 0.55 million shares. In the past week, VOLT shares have risen by 9.07%. In the past three and six months, the VOLT stock has gained 30.95% and 148.37%. Furthermore, Volt Information Sciences Inc. is currently valued in the market at $98.62 million and has 21.79 million outstanding shares.

    What we know about Volt Information Sciences

    Volt Information Sciences, Inc. is a staffing and employment service providing company that specifically focuses on round-the-clock/traditional time, project-based, mixed-shift, and materials-based staffing services. The company provides its services in Europe, the USA, Asia Pacific, and Canada. The company segmented its staffing operations and services into three; North American MSP, International staffing, and North American staffing. Apart from the staffing services, it provides employment management services that manage procurements, on-boarding, and customized solutions like a consultation for managing and sourcing recruiters and suppliers, SOPs, and JD statement of work management. The company also provides performance measurement standards to companies and business entities which include benchmarking demographics and employee/supplier performance metric and procurement of cost efficient employees.

    The company also outsources services like call-center and payroll services as well as salary-payment management services. In other roles, it acts as a subcontractor providing the logistic supplies and HR processes. The client base of the company includes where it serves worldwide, public, and neighborhood clients in different businesses, including aviation, car, banking and money, customer gadgets, data innovation, protection, life science, fabricating, media and diversion, drug, programming, telecom, transportation, and utilities. The organization was established in 1950 and is settled in Orange, California.

    Volt Information International has shown a significant year-over-year improvement in the fiscal second quarter 2021

    The company reported a significant uplift in its financial and operational performance based on year-o-year comparison despite the COVID19 and extreme weather conditions. The opening of the economy and return to normalcy has activated the job searches and recruitments in the market. This proved beneficial for VOLT stock due to its staffing services provision that helped play a role in providing job opportunities. The financial benefits can be seen in the second quarter fiscal 2021 financial results.

    The adjusted revenue of the VOLT stock increased by 5.9% to $222.1 million compared to the fiscal year 2020’s second quarter. The Adjusted EBITDA increased to $7.4 million from $6.0 million in the previous year same period. The gross margin for year-over-year comparison had increased by 80 points basis, improving by 16.4%. GAAP EPS was $0.08 per diluted share which was a boost from a loss of $0.25 per share in the second quarter of monetary 2020.

    North American Staffing income for the quarter was $184.3 million when contrasted with $173.4 million for the second quarter of financial 2020. Worldwide Staffing income for the quarter was $27.9 million, contrasted with $24.3 million in the earlier year quarter. North American MSP income for the subsequent quarter was $9.8 million, contrasted with $9.7 million in the earlier year quarter.

  • What Moved theScore (SCR) Stock Higher In Extended Trading?

    As of Tuesday after hours, shares of Score Media and Gaming Inc. (SCR) are trading at $25.95, up 6.88%. TheScore closed the regular session at $24.28 after adding 9.03%. SCR stock traded for 2.8 million shares, up from 0.56 million shares traded each day over the past 50 days.

    Despite losing 12.83% in the last five days, the score has gained 70.63% in the last month. Since the beginning of the year, the stock price of SCR has gained 349.53%, and it has shed -10.47% over the past 3 months. As a result of the passage of single event sports betting legislation, SCR stock surged.

    Legalization of single-game betting?

    theScore is a leading provider of digital sports media in Canada. Founded in 1997, SCR is a cable television sports network that has gained a following for its authentic, innovative sports programming. SCR started its evolution into a technology-driven company that is mobile-first in 2005 when it launched its first sports media app.

    ‘the score is one of the most popular mobile sports media apps in North America today. theScore Bet, SCR’s mobile sportsbook, made history in September 2019 by becoming the first sportsbook in North America.

    A statement from theScore announced that the Senate of Canada passed Bill C-218, An Act to Amend the Criminal Code, the legislation that will allow single event sports betting in Canada. It is now possible to receive Royal Assent and proclaim Bill C-218 into law.

    Opportunities for SCR in Canadian market:

    • SCR estimate that revenues from online gaming in Canada could reach between US$4.3 billion and US$5.4 billion annually based on historical data extrapolated from states with legal online gaming markets.
    • Ontario has a population of roughly the same size as the fifth-largest state in the US.
    • Taking historical data from market segments outside of the US and Canada into account, SCR estimates that online gaming revenue in Ontario could range from US$1.7 billion to US$2.1 billion annually.
    • SCR operates the most popular mobile sports app in Canada.
    • More than 3.75 million users access theScore app each year in Canada, including 1.43 million in Ontario.
    • The SCR media application is also among the top 3 of the North American app charts.

    theScore (SCR) Chairman and CEO, John Levy, declared that the Senate’s passage of Bill C-218 earlier today is a historic moment for Canada because it legalizes single event sports betting.

    In SCR’s view, legislation such as this will provide a safe and trustworthy environment for Canadians to bet on sports, while also driving business, employment, technological innovation, and economic growth.

  • What Caused The Coherus (CHRS) Stock To Drop Nearly 7% Afterhours?

    On Tuesday, Coherus BioSciences Inc. (CHRS) dropped -6.97% at $14.02 in after-hours trading. Coherus stock gained 2.10% to close at $15.07 in the regular trading session. The CHRS shares traded between $14.66 and $15.07 price range. CHRS traded 0.86 million shares, which was lower than its daily average of 1.07 million shares over the last 100 days.

    Over the past five days, CHRS shares have risen 6.80%, and that increases to 11.80% in the last month. Price of CHRS stock fluctuated in absence of any news, but the loss in after-hours trade could be attributed to stockholders taking profits to get their share of the gain it made during regular trading hours.

    Recent developments at CHRS:

    Coherus is a biopharmaceutical company in the process of commercializing a product which can deliver significant savings to the health-care system and improve patient well-being. Through its commercial biosimilar business, CHRS aims to build a leading immuno-oncology franchise. According to CHRS, it plans to market UDENYCA in the United States through 2023, and to introduce biosimilars of Lucentis, Humira, and Avastin as soon as they are approved.

    A pivotal study to show positive results from the Jupiter-02 study was announced by Shanghai Junshi Biosciences and Coherus this month.

    • Toripalimab plus chemotherapy as a first-line treatment for recurrent or metastatic nasopharyngeal carcinoma (NPC) was evaluated in this randomized, double-blind, placebo-controlled Phase 3 trial.
    • A blinded independent review committee (BIRC, per RECIST v1.1) assessed the CHRS interim analysis for progress-free survival (PFS) in comparison to chemotherapy alone, showing a statistically significant and clinically meaningful improvement.
    • Furthermore, Jupiter-02 had an acceptable objective response rate (ORR) assessed by the bidding institution and was found to meet the investigator’s primary endpoint of PFS.
    • Toripalimab also led to a longer duration of response (DoR), higher disease control rates (DCR).
    • Toripalimab had a safety profile similar to that observed in the clinical trials conducted by CHRS on the drug.
    • On Sunday, June 6, 2021, a late-breaking abstract summarizing the results was presented at the opening plenary session of the 2021 annual meeting of the American Society of Clinical Oncology (ASCO).
    • This year’s abstract (LBA2) can be found on the ASCO website now.

    CHRS’ efforts:

    As part of the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, Coherus (CHRS) hosted a virtual investor event on Monday, June 7, 2021, to discuss toripalimab clinical data. Further, CHRS highlighted the discovery and development of toripalimab, the JUPITER-02 trial results, and the strategy for marketing approval of toripalimab.

  • Tenax Therapeutics (TENX) Stock Skyrockets Ahead of Inclusion in Russell Microcap Index

    Tenax Therapeutics (TENX) stock prices opened and closed at USD$1.90 on June 22nd, 2021. After-hours trading saw the stock surge by 21.05%, bringing it up to USD$2.30.

    Russell Microcap Index

    The company recently announced that it was set to join the Russell Microcap Index as of the culmination of the 2021 Russell indexes annual reconstitution effect, which should be in place as of the U.S markets opening on June 28th, 2021. The membership will remain in place for at least one year, pending repeated inclusion in the following year. Consequently, the membership entails automatic inclusion in relevant growth and value style indexes. Membership for its Russell indexes is determined by FTSE primarily on the basis of objective, market-cap rankings, and style attributes.

    Scope of Inclusion

    Membership into the Russell Microcap Index comes at a particularly opportune time for the company, as it continues to advance its two lead drug development programs, imatinib, and levosimendan. The programs are anticipated to progress to Phase 3 clinical trials soon. The next several months will also see the company welcome important research publications that will serve to support the company’s pioneering approach towards the treatment of Pulmonary Hypertension and Heart Failure with Preserved Ejection Fraction.

    Advantages of Inclusion

    Inclusion in the index means increased visibility of the company among institutional investors during a critical stage of the company’s development. The Russell indexes are broadly used for index funds and as benchmarks for active investment strategies by investment managers and institutional investors. There are currently almost USD$10.6 trillion worth of assets benchmarked against Russell’s US indexes, which are a part of Russell indexes, a leading global index provider.

    FTSE Russell

    FTSE Russell provides innovative benchmarking, analytics, and data solutions for a global consumer-base of investors. Russell calculate a massive number of indexes that serve to measure and benchmark markets and asset classes spanning more than 70 countries. 98% of the investable market on a global scale is covered by FTSE Russell.

    Future Outlook for TENX

    Armed with the significant achievement that will open many more doors for the company, TENX is poised to capitalize on the opportunities afforded to it. The company is keen to continue its trajectory of success and usher in further growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • SeaChange International Inc. (SEAC) stock surged in the after hours trading session; here’s why

    At last check, SeaChange International Inc. (SEAC stock) has advanced 13.33% to trade at the price of $1.19 in the after-hours trading session. The SEAC stock completed the previous trading session at $1.05. The company’s shares were in the price range between $1.03 and $1.06. SEAC stock traded 1.24 million shares. In the past week, SEAC stock shed by -6.25% and in the last month shed -8.70%. The current value of SeacChange International Inc. in the market is $51.30 million and has 41.31 million outstanding shares.

    What kind of business model does SeaChange International operate?

    SeaChange International Inc. is a software application company that specifically focuses on the video and advertising business model. The company provides advertising, and state-of-the-art products and services. The company’s primary product offering is multiscreen video and advertising.  Along with the products, SEAC stock also provides licensing, management, marketing and advertising content and consultation, and facilitates aggregation. The proprietary product of the company includes Adrenalin which is a platform based on a multiscreen video back office and efficiently provides a viewing experience from across multiple screens- IP-enabled devices.

    SeaChange also provides a video cloud platform which is Over The Top and allows execution of content in various ways across the networks and devices by content creators, owners, media companies, and IP-enabled cable or entertainment services operators. This platform is known as a media maker and allows to ingest, manage, distribute monetized contents.

    The company also helps in management between different content networks and devices through its SeaChangeAssetFlow which receives, manages and publishes content for viewing. The company also focuses on advertising platforms to provide multiple mediums for casting the advertisements like multiscreen, OTT, on-demand viewing through its proprietary product called SeaChange Infusion.

    Apart from production and management of content, advertisement, and devices, SeaChange offers NitroX which engages in optimal live and on-demand video consumption.

    Further, the organization gives proficient maintenance and specialized help in administrations and services along with marketing consultations. The organization has a client base including media communications organizations, and satellite administrators, just as telecasters and other substance suppliers. SeaChange International, Inc. was fused in 1993 and is settled in Waltham, Massachusetts.

    The SEAC stock fundamentals are completely solid for the first quarter of fiscal year 2022

    SeaChange had released the report for the first fiscal quarter of fiscal year 2022 which ended on 30th April 2021. The financial report showcased a strong balance sheet and executed a roadmap consisting of multi-operational strategies with which it also launched a new product marketing strategy. The SEAC stock has had $21.3 million cash and cash equivalent as of 30th April 2021 and is intending to use the proceeds as capitals costs in increasing the scale, capturing the market share and creating more value for customers and shareholders. Furthermore, SeaChange is also focusing on using cash proceeds for corporate activities and business functions.

    SEAC stock has made the business operations more efficient as it also reported a reduced operating expense by 9% in the first fiscal quarter of 2022 while comparing to the previous fourth quarter of fiscal year 2021. The new platforms on which the company is promoting its marketing strategy are OTT streaming platform, Cable video delivery platform and advanced advertising platform.

  • Why Acasti (ACST) Stock Rose 22% In After Hours Trades?

    Acasti Pharma Inc. (ACST) shares were rising 22.04% to trade at $0.659 in after-hours at last check. As of the last check, shares of Ascasti Pharma Inc. (ACST) had risen 22.04% to $0.659 in after-hours trading. On Tuesday, Acasti stock closed at $0.54, up 10.20% from the previous close. Volume for Acasti stock increased to 33.61 million shares, which was higher than the average daily volume of 13.28 million shares during the 50-day period.

    ACST shares dropped -25.10 percent over the last year, while they gained 2.86% over the last week. ACST stock fell -18.37% in the past six months, and 109.30% over the past three months. ACST’s current market value is $108.06 million, and as of June 22 it has 200.12 million shares outstanding. ACST stock experienced a boost from releasing its year-end report for fiscal 2021.

    ACST has updated what?

    Acasti is a biopharmaceutical innovator specializing in OM3 fatty acids produced from krill oil and delivered as free fatty acids and phospholipid esters bound to phospholipids. There is extensive clinical evidence that using OM3 fatty acids to lower triglycerides in patients who have hypertriglyceridemia, or HTG will be safe and effective. ACST has developed CaPre, a medication for treating severe HTG, a phospholipid OM3 product.

    Acasti yesterday announced its financial and operating results for the fiscal year that ended March 31, 2021. ACST also provided an update on acquisition of Grace Therapeutics and the CaPre strategic evaluation process.

    Financial Highlights:

    • Operating loss for the year ended March 31, 2020 was $16.4 million compared to $24.4 million for 2020.
    • For the reported period, ACST posted a net loss of $19.7 million or $0.17 per share, a decrease of $5.8 million compared with the net loss of $25.5 million or $0.30 per share a year ago.
    • The cost of R&D before depreciation, amortization, and stock-based compensation for the year ended March 31, 2021 was $2.9 million, compared with $13.2 million for the same period last year.
    • In March 2021, cash and cash equivalents totaled $50.9 million, compared with $14.2 million in March 2020.

    Acquisition strategy:

    Acasti (ACST)’s management and board evaluated dozens of companies and undertook comprehensive due diligence on several finalist candidates as part of its formal process to explore and evaluate a range of strategic alternatives to enhance shareholder value.

    By combining with Grace, ACST plans to create a “rare disease” company whose advanced drug delivery technologies will not only enable ACST to rapidly advance current assets through clinical trials, but also foster in-house development of new treatment options.

  • What Motivated VTVT Stock To Climb 20% Premarket?

    What Motivated VTVT Stock To Climb 20% Premarket?

    The stock of vTv Therapeutics Inc. (VTVT) increased 19.92% to $2.83 at the last check in premarket trades today. The price of the stock dropped -3.28% to $2.36 at the end of the last trading session during which VTVT stock has traded between $2.32 and $2.422. A total of 0.74 million shares were traded, which was below the daily average of 5.21 million shares over the past 100 days.

    A look at the last five days of trading for VTVT shares shows a loss of -11.61%, while the last month shows a decline of -7.81%. As a result of announcing a strategic licensing agreement for the development and commercialization of azeliragon in cancer treatment, VTVT stock has increased.

    Who has VTVT signed a licensing agreement with?

    vTv Therapeutics is a clinical-stage biopharma company developing small molecule drugs for oral administration. Clinical trials for type 1 diabetes and psoriasis are at the forefront of VTVT’s pipeline of approved drugs. Additional indications for VTVT being pursued by its development partners include diabetes type 2, chronic obstructive pulmonary disease, renal disease, as well as primary mitochondrial myopathies.

    A licensing agreement was announced today between VTVT and Cantex Pharmaceuticals.

    • VTVT granted Cantex exclusive worldwide rights to develop and market azeliragon, which is VTVT’s new RAGE antagonist.
    • RAGE encodes the receptor for advanced glycation endproducts.
    • VTVT’s RAGE has been associated with a number of serious cancer complications that increase mortality and decrease quality of life.
    • With deep expertise and an extensive track record of successful drug development projects, Cantex can successfully turn known medicines into innovative products with wide clinical and commercial potential.
    • Cantex is therefore well suited to develop Azeliragon.
    • Aszeliragon is a phase 2-ready oral medication that is administered once daily and has been shown to be safe in several Alzheimer’s trials.
    • Cantex plans to move quickly to prepare for clinical trials that assess azeliragon’s potential for treating cancer-related complications.
    • VTVT’s RAGE is an intriguing target for treating many different disorders.
    • Azeliragon, which VTVT has studied for Alzheimer’s disease, is a perfect candidate for use in new therapeutic indications.
    • VTVT considers Cantex as a suitable partner for such development.
    • The companies will use a tiered arrangement to allocate downstream profits as Cantex is responsible for developing and commercializing azeliragon.

    VTVT’s other milestones:

    Based on vTv Therapeutics (VTVT)’s recent announcement, the Food and Drug Administration (FDA) has designated TTP399 as a Breakthrough Therapy for the treatment of type 1 diabetes. The novel glucokinase activator TTP399 was developed by VTVT for oral administration once daily.