VTVT - vTv stock soars 18% on $10M equity investment by CinRx Pharma
- vTv Therapeutics ( NASDAQ: VTVT ) is raising $10M via an equity investment by CinPax, a unit of CinRx Pharma.
- Under the agreements, CinPax acquired ~4.15M class A Common shares of vTv at ~$2.41 apiece. About $6M will be paid in cash at closing, and the remaining $4M payable on Nov. 22.
- vTv will also issue 1.2M warrants to to CinRx to acquire additional class A shares which become exercisable upon agreed vesting triggers (including FDA approval of TTP399.
- vTv said it will use CinRx's industry experience to collaborate on the oversight of clinical trials for pharmaceutical products that contain TTP399.
- VTVT +18.70% to $0.85 premarket July 25
For further details see:
vTv stock soars 18% on $10M equity investment by CinRx Pharma