New Agreement Includes $25 Million Investment

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Wednesday, June 1, 2022

We love looking at some premarket action when things get a little hot for specific stocks. This morning, a North Carolina-based biotech company saw it’s shares get bid up pretty aggressively following an announcement that the company has entered entry into agreements that include a $25 million investment by G42 Investments AI Holding RSC Ltd. This caused traders to eagerly want to get their hand on shares of vTv Therapeutics Inc. (Nasdaq:VTVT). 

vTv Therapeutics Inc. operates in the United States healthcare sector. Its key business includes the development of orally administered small molecule drug candidates for the treatment of neurological disorders such as Alzheimer's disease. Its major drug candidate to treat Alzheimer's is azeliragon (TTP488), an orally administered drug. Its other products include TTP399, type II diabetes drug candidate. TTP399 is also an orally administered drug that targets the glucagon-like peptide-1 receptor. It also has over three additional programs in various stages of clinical development for the prevention of muscle weakness and the treatment of inflammatory disorders.

As previously mentioned, this stock caught a premarket bid on Wednesday as traders are currently willing to purchase shares at $1.01/share (+83.24% implied open for sellers) at the time of writing. This move would come following a strong rally yesterday as shares went on to close up at $0.5512/share (+8.91%).

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