By Connor HartShares of vTv Therapeutics tumbled after the Food and Drug Administration placed a clinical hold on the company's program studying a treatment for Type 1 diabetes. Shares ended the market trading session up 1% at $21.20, putting them up more than 84% since the beginning of the year. The FDA requires a single in vitro study to characterize this signal before the cadisegliatin program, which includes the company's ongoing CATT1 Phase 3 trial in Type 1 diabetes, can resume, the High Point, N.C., company said. Cadisegliatin is a novel, oral, small-molecule, liver-selective glucokinase activator with first-in-class potential as an adjunct treatment for Type 1 diabetes, the company said. "We are working diligently with the Agency to resolve the clinical hold and resume enrollment as quickly as possible," Chief Executive Paul Sekhri said.

Source: Wall Street Journal July 27, 2024 10:09 UTC