vTv Therapeutics Inc.
VTVTHealthcare|Biotechnology|US
$21.03
-0.71 (-3.27%)
DCF Value
$10.43
Tangible Book / Share
$5.61
Cash / Share
$6.21
Financials
Financial Snapshot
Market Cap
$83.2M
Enterprise Value
$6.0M
Revenue (TTM)
$36.8M
Net Income (TTM)
-$7.7M
Cash & Investments
$77.2M
Net Cash
$77.2M
Free Cash Flow (TTM)
-$21.7M
Operating CF (TTM)
-$21.7M
Debt/Equity
0.00
Cash Runway & Burn Rate
Cash on Hand
$77.2M
Quarterly Burn
$5.4M
Monthly Burn
$1.8M
Est. Runway
~14.2 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $51.5M | $11.8M | $1.7M | $1.8M | $5.7M | $13.4M | $12.1M | $9.4M | $36.7M | $88.9M | $77.2M | |
| Operating Cash Flow | -$48.2M | -$44.6M | -$26.9M | -$23.0M | -$18.0M | -$19.3M | -$15.2M | -$19.1M | -$25.3M | -$25.3M | -$21.7M | |
| Free Cash Flow | -$48.3M | -$44.6M | -$26.9M | -$23.1M | -$18.0M | -$19.3M | -$15.3M | -$19.1M | -$25.3M | -$25.3M | -$21.7M | |
| Capital Expenditure | -$87.0K | -$57.0K | -$5.0K | -$70.0K | $0.00 | $0.00 | -$21.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $11.8M | $7.5M | $16.6M | $22.9M | $19.5M | $27.0M | $14.0M | $12.0M | $52.6M | $77.4M | $388.0K |
R&D Spending
R&D (TTM)
$29.2M
R&D Intensity
79.2%
R&D Growth vs Prior
+63.4%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $634.0K | $291.0K | $12.4M | $2.8M | $6.4M | $4.0M | $2.0M | $0.00 | $1.0M | $0.00 | $36.8M | |
| R&D Expense | $45.7M | $39.6M | $23.0M | $15.1M | $11.0M | $13.3M | $12.4M | $13.6M | $11.5M | $17.9M | $29.2M | |
| R&D % of Revenue | 7215.8% | 13622.0% | 185.3% | 547.0% | 171.7% | 332.7% | 612.3% | — | 1135.3% | — | 79.2% | |
| SG&A | $9.9M | $11.3M | $9.2M | $8.5M | $7.3M | $12.3M | $12.2M | $11.9M | $13.7M | $14.9M | $18.6M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $634.0K | $291.0K | $12.4M | $2.8M | $6.4M | $4.0M | $2.0M | $0.00 | $1.0M | $0.00 | $36.8M | |
| Cost of Revenue | $45.7M | $39.6M | $23.0M | $15.1M | $11.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.0K | |
| Gross Profit | -$45.1M | -$39.3M | -$10.6M | -$12.4M | -$4.6M | $4.0M | $2.0M | $0.00 | $1.0M | $0.00 | $36.8M | |
| R&D | $45.7M | $39.6M | $23.0M | $15.1M | $11.0M | $13.3M | $12.4M | $13.6M | $11.5M | $17.9M | $29.2M | |
| SG&A | $9.9M | $11.3M | $9.2M | $8.5M | $7.3M | $12.3M | $12.2M | $11.9M | $13.7M | $14.9M | $18.6M | |
| Operating Income | -$55.0M | -$50.7M | -$19.8M | -$20.9M | -$11.9M | -$21.7M | -$22.5M | -$25.5M | -$24.2M | -$32.8M | $1.4M | |
| Interest Expense | $398.0K | $3.1M | $3.3M | $1.8M | $692.0K | $12.0K | $15.0K | $13.0K | $0.00 | $6.0K | $1.0K | |
| Pretax Income | -$55.4M | -$53.8M | -$23.6M | -$21.8M | -$12.8M | -$17.6M | -$24.9M | -$26.0M | -$22.6M | -$31.1M | -$7.7M | |
| Net Income | -$16.4M | -$16.1M | -$7.9M | -$21.9M | -$8.5M | -$13.0M | -$19.2M | -$20.3M | -$18.5M | -$27.0M | -$7.7M | |
| EPS (Diluted) | -68.52 | -66.62 | -25.42 | -28.97 | -7.21 | -8.29 | -9.98 | -9.71 | -3.20 | -3.20 | 0.03 | |
| EBITDA | -$54.7M | -$50.6M | -$20.1M | -$20.0M | -$12.0M | -$17.5M | -$24.8M | -$25.9M | -$22.5M | -$31.1M | $3.9M | |
| Shares Out. (M) | 0.24 | 0.24 | 0.31 | 0.76 | 1.18 | 1.57 | 1.92 | 2.08 | 5.77 | 8.42 | 12.42 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $51.5M | $11.8M | $1.7M | $1.8M | $5.7M | $13.4M | $12.1M | $9.4M | $36.7M | $88.9M | $77.2M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $52.1M | $20.4M | $3.5M | $2.8M | $7.2M | $15.6M | $27.1M | $10.7M | $38.1M | $89.9M | $78.6M | |
| Total Assets | $54.5M | $27.9M | $8.6M | $9.3M | $14.8M | $25.5M | $33.2M | $11.0M | $38.3M | $89.9M | $78.6M | |
| Total Current Liabilities | $11.4M | $26.9M | $18.8M | $13.4M | $6.4M | $8.5M | $7.7M | $10.6M | $5.2M | $6.6M | $7.0M | |
| Long-Term Debt | $11.1M | $15.3M | $6.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $145.4M | $179.0M | $91.4M | $18.1M | $11.0M | $10.3M | $27.4M | $29.6M | $24.0M | $25.5M | $8.9M | |
| Stockholders' Equity | -$90.9M | -$151.0M | -$82.9M | -$49.0M | -$80.1M | -$9.7M | -$10.7M | -$24.7M | $12.2M | $64.4M | $69.7M | |
| Retained Earnings | -$215.5M | -$279.1M | -$233.9M | -$233.5M | -$290.0M | -$248.8M | -$265.5M | -$281.0M | -$299.7M | -$326.7M | -$327.2M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$48.2M | -$44.6M | -$26.9M | -$23.0M | -$18.0M | -$19.3M | -$15.2M | -$19.1M | -$25.3M | -$25.3M | -$21.7M | |
| Capital Expenditure | -$87.0K | -$57.0K | -$5.0K | -$70.0K | $0.00 | $0.00 | -$21.0K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$48.3M | -$44.6M | -$26.9M | -$23.1M | -$18.0M | -$19.3M | -$15.3M | -$19.1M | -$25.3M | -$25.3M | -$21.7M | |
| Investing Cash Flow | -$83.0K | -$25.0K | $7.0K | $242.0K | $0.00 | $0.00 | -$21.0K | $4.4M | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $11.8M | $7.5M | $16.6M | $22.9M | $19.5M | $27.0M | $14.0M | $12.0M | $52.6M | $77.4M | $388.0K | |
| Issuance of Stock | $0.00 | $0.00 | $21.5M | $32.9M | $24.4M | $26.8M | $14.8M | $12.0M | $52.8M | $77.5M | $7.0K | |
| Repurchase of Stock | $923.0K | $302.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $12.5M | $7.5M | -$4.9M | -$10.1M | -$5.0M | $172.0K | -$808.0K | -$33.0K | -$191.0K | -$392.0K | -$328.0K | |
| Stock Based Comp. | $2.6M | $3.6M | $2.7M | $1.5M | $1.0M | $2.4M | $0.00 | $1.6M | $2.8M | $3.8M | $6.1M | |
| Net Change in Cash | -$36.5M | -$37.1M | -$10.2M | $94.0K | $1.5M | $7.7M | -$1.3M | -$2.7M | $27.3M | $52.2M | -$21.3M |
Dilution Tracker
Shares outstanding grew 614.8% over 5 years — significant dilution
Shares Outstanding
4M
5-Year Share Growth
+614.8%
Stock Issuance (TTM)
$7.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 0.24 | 0.24 | 0.31 | 0.76 | 1.18 | 1.57 | 1.92 | 2.08 | 5.77 | 8.42 | 12.42 | |
| Change vs Prior % | — | 1.5% | 28.4% | 143.3% | 55.6% | 32.9% | 22.6% | 8.6% | 176.8% | 46.0% | 47.5% | |
| Stock Issuance | $0.00 | $0.00 | $21.5M | $32.9M | $24.4M | $26.8M | $14.8M | $12.0M | $52.8M | $77.5M | $7.0K | |
| Stock Repurchase | $923.0K | $302.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.6M | $3.6M | $2.7M | $1.5M | $1.0M | $2.4M | $0.00 | $1.6M | $2.8M | $3.8M | $6.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | -7115.8% | -13522.0% | -85.3% | -447.0% | -71.7% | 100.0% | 100.0% | — | 100.0% | — | 100.0% | |
| Operating Margin % | -8678.2% | -17416.5% | -159.4% | -755.9% | -184.8% | -540.9% | -1116.9% | — | -2377.6% | — | 3.9% | |
| Net Margin % | -2579.2% | -5547.8% | -63.6% | -793.7% | -132.5% | -324.3% | -949.7% | — | -1815.3% | — | -20.8% | |
| EBITDA Margin % | -8626.2% | -17373.9% | -162.0% | -722.6% | -187.3% | -437.3% | -1227.3% | — | -2214.0% | — | 10.7% | |
| FCF Margin % | -7617.7% | -15332.3% | -216.0% | -835.3% | -280.6% | -482.1% | -756.5% | — | -2488.4% | — | -59.0% | |
| ROE % | 18.0% | 10.7% | 9.5% | 44.8% | 10.6% | 133.3% | 178.4% | 82.1% | -151.3% | -41.9% | -10.1% | |
| ROA % | -30.0% | -57.8% | -92.4% | -236.8% | -57.5% | -51.0% | -57.7% | -183.8% | -48.2% | -30.0% | -9.8% | |
| ROIC % | -127.8% | -963.7% | 2215.0% | -964.1% | -137.2% | -124.4% | -87.0% | -3359.9% | -72.7% | -39.4% | 2.0% | |
| R&D / Revenue % | 7215.8% | 13622.0% | 185.3% | 547.0% | 171.7% | 332.7% | 612.3% | — | 1135.3% | — | 79.2% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 22.2% | -54.1% | 4172.9% | -77.8% | 132.1% | -37.6% | -49.6% | -100.0% | 0.0% | -100.0% | |
| Gross Profit | -55.2% | 12.8% | 73.1% | -16.5% | 62.8% | 187.0% | -49.6% | -100.0% | 0.0% | -100.0% | |
| Operating Income | -44.3% | 7.9% | 60.9% | -5.4% | 43.3% | -82.8% | -4.1% | -13.1% | 5.2% | -35.7% | |
| Net Income | 40.5% | 1.3% | 51.0% | -177.3% | 61.3% | -52.8% | -47.6% | -5.7% | 8.8% | -46.1% | |
| EPS (Diluted) | 48.4% | 2.8% | 61.8% | -14.0% | 75.1% | -15.0% | -20.4% | 2.7% | 67.0% | 0.0% | |
| Operating Cash Flow | -30.5% | 7.6% | 39.7% | 14.3% | 21.8% | -7.3% | 21.0% | -25.2% | -32.6% | 0.2% | |
| Free Cash Flow | -30.4% | 7.6% | 39.8% | 14.0% | 22.0% | -7.3% | 20.9% | -25.0% | -32.6% | 0.2% | |
| R&D Expense | 54.6% | -13.4% | -41.9% | -34.4% | -27.1% | 21.0% | -7.3% | 10.0% | -15.1% | 54.7% | |
| SG&A Expense | 9.1% | 14.4% | -18.6% | -7.4% | -15.1% | 70.2% | -1.2% | -2.4% | 14.6% | 9.5% | |
| Total Assets | -40.5% | -48.8% | -69.3% | 8.3% | 59.6% | 72.2% | 30.5% | -66.9% | 247.3% | 134.9% | |
| Book Value / Share | -1.1% | -63.6% | 57.3% | 95.6% | 127.6% | 202.0% | -68.7% | -392.5% | 127.9% | 208.7% | |
| Debt | 0.0% | 77.1% | -19.8% | -54.7% | -87.1% | 1.9% | -23.2% | -26.1% | -68.1% | -100.0% | |
| Diluted Shares | 15.3% | 1.5% | 28.4% | 143.3% | 55.6% | 32.9% | 22.6% | 8.6% | 176.8% | 46.0% |
Valuation
P/E (TTM)701.00
P/S2.26
10Y Low / Med / High2.65 / 25.23 / 200.19
P/B3.75
EV/EBITDA1.52
EV/Revenue0.16
10Y Low / Med / High3.78 / 19.58 / 227.10
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$10.43
Tangible Book / Share
$5.61
Net Current Assets / Share
$17.62
Graham Net-Net
$5.49
Cash / Share
$6.21
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -2.82 | -3.61 | -4.17 | -2.35 | -10.32 | -4.80 | -2.66 | -1.18 | -4.32 | -12.50 | 701.00 | |
| P/S Ratio | 72.72 | 200.19 | 2.65 | 18.63 | 13.67 | 15.56 | 25.23 | 0.00 | 78.37 | 0.00 | 2.26 | |
| P/B Ratio | -0.51 | -0.39 | -0.40 | -1.05 | -1.09 | -6.40 | -4.74 | -0.97 | 6.53 | 5.23 | 3.75 | |
| EV/EBITDA | -0.10 | -1.31 | -2.34 | -2.85 | -6.89 | -2.85 | -1.60 | -0.58 | -1.92 | -7.98 | 1.52 | |
| EV/Revenue | 8.92 | 227.10 | 3.78 | 20.56 | 12.92 | 12.45 | 19.58 | 0.00 | 42.40 | 0.00 | 0.16 |
Analyst Estimates & Quality
Altman Z-Score
1.49
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $36.9M | $800.0K | $1.6M |
| Net Income | -$12.4M | -$34.7M | -$42.1M |
| EPS | $-1.21 | $-4.15 | $-4.59 |
| # Analysts (EPS) | 3 | 5 | 6 |
Revenue Segments
By Product
| Segment | 2024 |
|---|---|
| Reportable Segment | $1.0M |