0001641489-23-000021 | 10-Q | XBRL Viewer

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Description of Business, Basis of Presentation and Going Concern (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Accumulated deficit	$ (274,319)	$ (265,524)
Cash and cash equivalents	$ 18,766	$ 12,126
Class A Common Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock par value (in usd per share)	$ 0.01	$ 0.01
Class A Common Stock \| Cantor Fitzgerald
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining available stock value	$ 37,300
Class A Common Stock \| LPC Purchase Agreement
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	9,437,376
Class B Common Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock par value (in usd per share)	$ 0.01	$ 0.01
vTv Therapeutics LLC
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of non-voting economic interest of vTv Therapeutics Holdings LLC in vTv LLC	22.10%
Percentage of non-voting economic interest of vTv Therapeutics Inc in vTv LLC	77.90%
vTv Therapeutics LLC \| Class B Common Stock
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock par value (in usd per share)	$ 0.01

Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Stockholders' Deficit - Unaudited - USD ($) $ in Thousands	Total	Class A Common Stock	Class B Common Stock	Redeemable Noncontrolling Interest Redeemable Noncontrolling Interest	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance at Dec. 31, 2021				$ 24,962
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss				(2,417)
Change in redemption value of noncontrolling interest				(8,178)
Ending balance at Mar. 31, 2022				14,367
Beginning balance, shares (in shares) at Dec. 31, 2021					66,942,777	23,093,860
Beginning balance at Dec. 31, 2021	$ (9,740)				$ 669	$ 232	$ 238,193	$ (248,834)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(7,007)							(7,007)
Share-based compensation	476						476
Change in redemption value of noncontrolling interest	8,178							8,178
Ending balance, shares (in shares) at Mar. 31, 2022					66,942,777	23,093,860
Ending balance at Mar. 31, 2022	(8,093)				$ 669	$ 232	238,669	(247,663)
Beginning balance at Dec. 31, 2022	16,579			16,579
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Net loss				(1,275)
Change in redemption value of noncontrolling interest				4,296
Ending balance at Mar. 31, 2023	19,600			$ 19,600
Beginning balance, shares (in shares) at Dec. 31, 2022			23,093,860		81,483,600	23,093,860
Beginning balance at Dec. 31, 2022	(10,740)				$ 815	$ 232	253,737	(265,524)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4,499)							(4,499)
Share-based compensation	343						343
Change in redemption value of noncontrolling interest	(4,296)							(4,296)
Ending balance, shares (in shares) at Mar. 31, 2023		81,483,600	23,093,860		81,483,600	23,093,860
Ending balance at Mar. 31, 2023	$ (19,192)				$ 815	$ 232	$ 254,080	$ (274,319)

Stockholders' Deficit - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands								1 Months Ended	3 Months Ended
	Feb. 28, 2023	Jul. 22, 2022	May 31, 2022	Jun. 25, 2021	May 04, 2021	Jan. 14, 2021	Nov. 24, 2020	Apr. 30, 2020	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2020
Class Of Stock [Line Items]
Capital stock, shares authorized (in shares)					350,000,000							250,000,000
Loss from promissory note early redemption									$ 313	$ 0
G42 Investments
Class Of Stock [Line Items]
Shares sold (in shares)			10,386,274
Sale of stock, price per share (in usd per shares)			$ 2.41
Sale of stock, consideration received on transaction, gross			$ 25,000
Sale of stock, consideration received on transaction			12,500
Accounts and financing receivable, after allowance for credit loss			$ 12,500
Sale of stock, consideration, receivables, payment term			1 year
Proceeds from collection of notes receivable	$ 12,000
Discount rate	3.75%
Loss from promissory note early redemption	$ 300
CinRx Investment
Class Of Stock [Line Items]
Shares sold (in shares)		4,154,549
Sale of stock, price per share (in usd per shares)		$ 2.41
Sale of stock, consideration received on transaction, gross		$ 10,000
Sale of stock, consideration received on transaction		6,000
Accounts and financing receivable, after allowance for credit loss		$ 4,000
Warrants, term		5 years
Class A Common Stock
Class Of Stock [Line Items]
Common stock, shares authorized (in shares)					200,000,000				200,000,000		200,000,000	100,000,000
Increase in shares authorized (in shares)					100,000,000
Common stock par value (in usd per share)									$ 0.01		$ 0.01
Class A Common Stock \| CinRx Investment
Class Of Stock [Line Items]
Sale of stock, price per share (in usd per shares)		$ 0.72
Sale of stock, consideration received on transaction		$ 3,000
Class A Common Stock \| Cantor Fitzgerald \| ATM Offering
Class Of Stock [Line Items]
Shares sold (in shares)									0	0
Common stock par value (in usd per share)								$ 0.01
Stock issued during period								$ 13,000
Aggregate offering price				$ 50,000		$ 5,500
Class A Common Stock \| LPC Purchase Agreement
Class Of Stock [Line Items]
Shares sold (in shares)									0	0
Class A Common Stock \| LPC Purchase Agreement \| Maximum
Class Of Stock [Line Items]
Stock issued during period							$ 47,000
Common Stock
Class Of Stock [Line Items]
Common stock, shares authorized (in shares)					300,000,000							200,000,000
Common Stock \| CinRx Investment
Class Of Stock [Line Items]
Number of securities called by warrants or rights (in shares)		1,200,000
Exercise price of warrants or rights (in usd per share)		$ 0.72
Warrants, fair value		$ 400

Collaboration Agreements (Tables)

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Contract Liabilities Related to Company's Collaboration Agreements

Contract liabilities related to the Company’s collaboration agreements consisted of the following (in thousands):


	March 31, 2023		December 31, 2022
Current portion of contract liabilities	$	17	$	17
Contract liabilities, net of current portion	18,669		18,669
Total contract liabilities	$	18,686	$	18,686

Contract with Customer, Contract Asset, Contract Liability, and Receivable Changes

Changes in short-term and long-term contract liabilities for the three months ended March 31, 2023, were as follows:


	Contract Liabilities
Balance on January 1, 2023	$	18,686
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	—

Balance on March 31, 2023	$	18,686

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Award Activity for the Period

The following table summarizes the activity related to the stock option awards for the three months ended March 31, 2023:


	Number of Shares	Weighted Average Exercise Price
Awards outstanding at December 31, 2022	8,418,571	$	2.17
Granted	726,868	0.91
Forfeited	(50,000)	1.29
Awards outstanding at March 31, 2023	9,095,439	$	2.07
Options exercisable at March 31, 2023	3,500,344	$	3.88
Weighted average remaining contractual term	6.3 Years
Options vested and expected to vest at March 31, 2023	6,963,039	$	2.42
Weighted average remaining contractual term	7.7 Years

Summary of Compensation Expense Related to Grants of Stock Options

Compensation expense related to the grants of stock options is included in research and development and general and administrative expense as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Research and development	$	98	$	92
General and administrative	245		384
Total share-based compensation expense	$	343	$	476

Collaboration Agreements - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended
	Feb. 28, 2023	May 31, 2022	Aug. 31, 2017	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Jan. 14, 2021
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Loss from promissory note early redemption				$ 313	$ 0
Contract liabilities, net of current portion				18,669		$ 18,669
Revenue				0	2,000
Contract with customer, liability, revenue recognized				0
Research and development				3,942	3,133
G42 Investments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Shares sold (in shares)		10,386,274
Sale of stock, price per share (in usd per shares)		$ 2.41
Sale of stock, consideration received on transaction, gross		$ 25,000
Sale of stock, consideration received on transaction		12,500
Accounts and financing receivable, after allowance for credit loss		12,500
Proceeds from collection of notes receivable	$ 12,000
Discount rate	3.75%
Loss from promissory note early redemption	$ 300
G2 Investments Purchase Agreement And Cogna Collaborative And License Agreement \| G42 Investments
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Sale of stock, consideration received on transaction, gross		25,000
Accounts and financing receivable, after allowance for credit loss				12,500
Proceeds from collection of notes receivable	$ 12,000
Discount rate	3.75%
Loss from promissory note early redemption	$ 300
Collaborative arrangement, contingent consideration		30,000
Collaborate arrangement, contingent consideration transferred, cash		30,000
Contract liabilities, net of current portion				18,700
Discount on note receivable				600
Collaboration revenue recognized				0
Revenue				0
Receivables, fair value disclosure				11,900
G2 Investments Purchase Agreement And Cogna Collaborative And License Agreement \| G42 Investments \| Class A Common Stock
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Common stock, value		$ 5,700
Share price (usd per share)		$ 0.55
G2 Investments Purchase Agreement And Cogna Collaborative And License Agreement \| Cogna
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Royalties receivable, period		10 years
Collaborative Arrangements \| JDRF
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Maximum funding percentage of research and development milestones			50.00%
Collaborative Arrangements \| JDRF \| Phase 2 MRCT \| License and Technology Transfer Services of Chemistry and Manufacturing Know-How
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Adjustments to transaction price for performance obligations				0
Collaborative Arrangements \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. \| Phase 2 MRCT
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Maximum contribution amount to clinical trial							$ 3,000
Potential development and regulatory milestone payments							$ 3,000
Unrecognized amount of transaction price allocated to performance obligation					2,000
Collaborative Arrangements \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. \| Phase 2 MRCT \| License and Technology Transfer Services of Chemistry and Manufacturing Know-How
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Adjustments to transaction price for performance obligations				$ 0	$ 2,000

Share-Based Compensation - Summary of Stock Award Activity for the Period (Detail)	3 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Awards outstanding, Beginning balance (in shares) \| shares	8,418,571
Granted (in shares) \| shares	726,868
Forfeited (in shares) \| shares	(50,000)
Awards outstanding, Ending balance (in shares) \| shares	9,095,439
Options exercisable (in shares) \| shares	3,500,344
Options exercisable, weighted average remaining contractual term	6 years 3 months 18 days
Options vested and expected to vest (in shares) \| shares	6,963,039
Options vested and expected to vest, weighted average remaining contractual term	7 years 8 months 12 days
Weighted Average Exercise Price
Awards outstanding, Beginning balance (in usd per share) \| $ / shares	$ 2.17
Granted (in usd per share) \| $ / shares	0.91
Forfeited (in usd per share) \| $ / shares	1.29
Awards outstanding, Ending balance (in usd per share) \| $ / shares	2.07
Options exercisable (in usd per share) \| $ / shares	3.88
Options vested and expected to vest (in usd per share) \| $ / shares	$ 2.42

Share-Based Compensation - Additional Information (Detail) - Stock Option - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock option awards vesting period	3 years
Non-qualified stock option awards expiration term	10 years
Unrecognized compensation cost related to non-vested share-based compensation arrangements	$ 2.1
Weighted average period to recognize unrecognized share-based compensation cost	2 years 7 months 6 days
Weighted average grant date fair value of options granted (in usd per share)	$ 0.80	$ 0.65

Redeemable Noncontrolling Interest (Tables)

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Summary of Net Income Attributable to Vtv Therapeutics Inc

The following is a summary of net income attributable to vTv Therapeutics Inc. and transfers to noncontrolling interest:


	For the Three Months Ended March 31,
	2023		2022
Net loss attributable to vTv Therapeutics Inc. common shareholders	$	(4,499)	$	(7,007)
Decrease in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances	1,345		2,432
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$	(3,154)	$	(4,575)

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Taxes [Line Items]
Income tax provision	$ 0	$ 200
M&F TTP Holdings LLC
Income Taxes [Line Items]
Amount of cash savings percentage	85.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022
Revenue \| Customer \| One Customer
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage	100.00%

Redeemable Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Redemption amount of noncontrolling interest	$ 19.6	$ 16.6
Class A Common Stock
Noncontrolling Interest [Line Items]
Number of days used to determine exchange value based on weighted average price of Class A common stock	20 days
Class A Common Stock \| Exchange of Redeemable Non controlling Interest To Class A Common Stock
Noncontrolling Interest [Line Items]
Stock conversion ratio	1
vTv Therapeutics LLC
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage	22.10%

Investments - Schedule of Equity Investments with and without Readily Determinable Fair Values Assessed (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity investment without readily determinable fair values assessed under the measurement alternative:	$ 7,692	$ 5,588
Reneo \| Common Stock
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity investment with readily determinable fair value:	3,447	1,343
Anteris Bio Inc \| Preferred Stock
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity investment without readily determinable fair values assessed under the measurement alternative:	$ 4,245	$ 4,245

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The carrying amount of certain of the Company’s financial instruments, including cash and cash equivalents, net accounts receivable, note receivable, accounts payable and other accrued liabilities approximate fair value due to their short-term nature.

The Company measures the value of its equity investments without readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment. During the year ended December 31, 2021, Reneo completed its initial public offering. As a result, the fair value of the Company’s investment in Reneo’s common stock now has a readily determinable market value and is no longer eligible for the practical expedient for investments without readily determinable fair market values.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The Company evaluates its financial assets and liabilities subject to fair value measurements on a recurring basis to determine the appropriate level in which to classify them for each reporting period. This determination requires significant judgments. The Company determined that the promissory note receivable was level 2 and the fair value measurement was based on the market yield curves. The following table summarizes the conclusions reached regarding fair value measurements as of March 31, 2023 and December 31, 2022 (in thousands):


	Balance at March 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Equity securities with readily determinable fair value	$	3,447	$	3,447	$	—	$	—
Total	$	3,447	$	3,447	$	—	$	—

Liabilities:
Warrant liability, related party (1)	$	922	$	—	$	—	$	922
Total	$	922	$	—	$	—	$	922


	Balance at December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Equity securities with readily determinable fair value	$	1,343	$	1,343	$	—	$	—
Total	$	1,343	$	1,343	$	—	$	—

Liabilities:
Warrant liability, related party (1)	$	684	$	—	$	—	$	684
Total	$	684	$	—	$	—	$	684

_____________________________


(1)			Fair value determined using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of valuation.


	Changes in Level 3 instruments for the three months ended March 31,
	Balance at January 1		Net Change in fair value included in earnings		Purchases / Issuance		Sales / Repurchases		Balance at March 31,
2023
Warrant liability, related party	$	684	$	238	$	—	$	—	$	922
Total	$	684	$	238	$	—	$	—	$	922

2022
Warrant liability, related party	$	1,262	$	(492)	$	—	$	—	$	770
Total	$	1,262	$	(492)	$	—	$	—	$	770

There were no transfers into or out of level 3 instruments and/or between level 1 and level 2 instruments during the three months ended March 31, 2023. Gains and losses recognized due to the change in fair value of the warrant liability, related party are recognized as a component of other (expense) income, related party in the Company’s Condensed Consolidated Statements of Operations.

The fair value of the Letter Agreement Warrants was determined using the Black-Scholes option pricing model or option pricing models based on the Company’s current capitalization. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of valuation. Significant inputs utilized in the valuation of the Letter Agreement Warrants as of March 31, 2023 and December 31, 2022, were:


	March 31, 2023		December 31, 2022
	Range	Weighted Average	Range	Weighted Average
Expected volatility	73.22% - 83.59%	81.39%	76.94% - 85.88%	82.17%
Risk-free interest rate	3.73% - 4.24%	3.84%	4.11% - 4.43%	4.19%

The fair value of the CinRx Warrants was determined using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of valuation. Significant inputs utilized in the valuation of the CinRx Warrants as of March 31, 2023, were:


Expected volatility	82.2	%
Expected life of options in years	3.6
Risk-free interest rate	3.7	%
Expected dividend yield	—	%

The weighted average expected volatility and risk-free interest rate was based on the relative fair values of the warrants.

Changes in the unobservable inputs noted above would impact the amount of the liability for the Letter Agreement Warrants and CinRx Warrants. Increases (decreases) in the estimates of the Company’s annual volatility would increase (decrease) the liability and an increase (decrease) in the annual risk-free rate would increase (decrease) the liability.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 18,766	$ 12,126
Accounts receivable	0	173
Promissory note receivable	0	12,243
Prepaid expenses and other current assets	1,846	2,537
Current deposits	15	15
Total current assets	20,627	27,094
Property and equipment, net	185	207
Operating lease right-of-use assets	324	349
Long-term investments	7,692	5,588
Total assets	28,828	33,238
Current liabilities:
Accounts payable and accrued expenses	8,358	7,313
Current portion of operating lease liabilities	157	154
Current portion of contract liabilities	17	17
Current portion of notes payable	0	224
Total current liabilities	8,532	7,708
Contract liabilities, net of current portion	18,669	18,669
Operating lease liabilities, net of current portion	297	338
Warrant liability, related party	922	684
Total liabilities	28,420	27,399
Commitments and contingencies
Redeemable noncontrolling interest	19,600	16,579
Stockholders’ deficit:
Additional paid-in capital	254,080	253,737
Accumulated deficit	(274,319)	(265,524)
Total stockholders’ deficit attributable to vTv Therapeutics Inc.	(19,192)	(10,740)
Total liabilities, redeemable noncontrolling interest and stockholders’ deficit	28,828	33,238
Class A Common Stock
Stockholders’ deficit:
Common stock value	815	815
Class B Common Stock
Stockholders’ deficit:
Common stock value	$ 232	$ 232

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summarizes the Conclusions Reached Regarding Fair Value Measurements

The following table summarizes the conclusions reached regarding fair value measurements as of March 31, 2023 and December 31, 2022 (in thousands):


	Balance at March 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Equity securities with readily determinable fair value	$	3,447	$	3,447	$	—	$	—
Total	$	3,447	$	3,447	$	—	$	—

Liabilities:
Warrant liability, related party (1)	$	922	$	—	$	—	$	922
Total	$	922	$	—	$	—	$	922


	Balance at December 31, 2022		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Equity securities with readily determinable fair value	$	1,343	$	1,343	$	—	$	—
Total	$	1,343	$	1,343	$	—	$	—

Liabilities:
Warrant liability, related party (1)	$	684	$	—	$	—	$	684
Total	$	684	$	—	$	—	$	684

_____________________________


(1)			Fair value determined using the Black-Scholes option pricing model. Expected volatility is based on the historical volatility of the Company’s common stock over the most recent period. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of valuation.


	Changes in Level 3 instruments for the three months ended March 31,
	Balance at January 1		Net Change in fair value included in earnings		Purchases / Issuance		Sales / Repurchases		Balance at March 31,
2023
Warrant liability, related party	$	684	$	238	$	—	$	—	$	922
Total	$	684	$	238	$	—	$	—	$	922

2022
Warrant liability, related party	$	1,262	$	(492)	$	—	$	—	$	770
Total	$	1,262	$	(492)	$	—	$	—	$	770

Fair Value Measurement Inputs and Valuation Techniques

Significant inputs utilized in the valuation of the Letter Agreement Warrants as of March 31, 2023 and December 31, 2022, were:


	March 31, 2023		December 31, 2022
	Range	Weighted Average	Range	Weighted Average
Expected volatility	73.22% - 83.59%	81.39%	76.94% - 85.88%	82.17%
Risk-free interest rate	3.73% - 4.24%	3.84%	4.11% - 4.43%	4.19%


Expected volatility	82.2	%
Expected life of options in years	3.6
Risk-free interest rate	3.7	%
Expected dividend yield	—	%

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss before noncontrolling interest	$ (5,774)	$ (9,424)
Adjustments to reconcile net loss before noncontrolling interest to net cash used in operating activities:
Depreciation expense	22	23
Loss from promissory note early redemption	313	0
Non-cash interest income	(100)	0
Share-based compensation expense	343	476
Change in fair value of investments	(2,104)	3,234
Change in fair value of warrants, related party	238	(492)
Changes in assets and liabilities:
Accounts receivable	173	0
Prepaid expenses and other assets	691	732
Accounts payable and accrued expenses	1,032	4,430
Net cash used in operating activities	(5,166)	(1,021)
Cash flows from financing activities:
Proceeds from promissory note early redemption related to sale of Class A common stock to collaboration partner	12,030	0
Repayment of notes payable	(224)	(256)
Net cash provided by (used in) financing activities	11,806	(256)
Net increase/(decrease) in cash and cash equivalents	6,640	(1,277)
Total cash and cash equivalents, beginning of period	12,126	13,415
Total cash and cash equivalents, end of period	18,766	12,138
Non-cash activities:
Change in redemption value of noncontrolling interest	$ 4,296	$ (8,178)

Share-Based Compensation

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

The Company has issued non-qualified stock option awards to management, other key employees, consultants, and non-employee directors. These option awards generally vest ratably over a three-year period and the option awards expire after a term of ten years from the date of grant. As of March 31, 2023, the Company had total unrecognized stock-based compensation expense for its outstanding stock option awards of approximately $2.1 million, which is expected to be recognized over a weighted average period of 2.6 years. The weighted average grant date fair value of options granted during the three months ended March 31, 2023 and 2022 was $0.80 and $0.65 per option, respectively. The aggregate intrinsic value of the in-the-money awards outstanding at March 31, 2023, was de minimis.

The following table summarizes the activity related to the stock option awards for the three months ended March 31, 2023:


	Number of Shares	Weighted Average Exercise Price
Awards outstanding at December 31, 2022	8,418,571	$	2.17
Granted	726,868	0.91
Forfeited	(50,000)	1.29
Awards outstanding at March 31, 2023	9,095,439	$	2.07
Options exercisable at March 31, 2023	3,500,344	$	3.88
Weighted average remaining contractual term	6.3 Years
Options vested and expected to vest at March 31, 2023	6,963,039	$	2.42
Weighted average remaining contractual term	7.7 Years

Compensation expense related to the grants of stock options is included in research and development and general and administrative expense as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
Research and development	$	98	$	92
General and administrative	245		384
Total share-based compensation expense	$	343	$	476

Commitments and Contingencies - Additional Information (Detail) - Novo License Agreement - USD ($) $ in Millions	Dec. 31, 2021	Feb. 28, 2007
Developmental and Regulatory Milestone Payment \| Other Indication \| Maximum
Commitments And Contingencies [Line Items]
Potential milestone payment		$ 115.0
Developmental and Regulatory Milestone Payment \| Type 1 Diabetes
Commitments And Contingencies [Line Items]
Potential milestone payment		9.0
Developmental and Regulatory Milestone Payment \| Type 2 Diabetes \| Maximum
Commitments And Contingencies [Line Items]
Potential milestone payment		50.5
Sales-based Milestones Payment
Commitments And Contingencies [Line Items]
Potential milestone payment		$ 75.0
Satisfaction of Milestone Payment
Commitments And Contingencies [Line Items]
Potential milestone payment	$ 2.0

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2023	May 11, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-37524
Entity Registrant Name	vTv Therapeutics Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3916571
Entity Address, Address Line One	3980 Premier Dr
Entity Address, Address Line Two	Suite 310
Entity Address, City or Town	High Point
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27265
City Area Code	336
Local Phone Number	841-0300
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Trading Symbol	VTVT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001641489
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		81,483,600
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		23,093,860

Net Loss per Share - Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Net Loss per Share (Detail) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in calculation of dilutive net loss per share (in shares)	35,403,802	30,830,705
Class B Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in calculation of dilutive net loss per share (in shares)	23,093,860	23,093,860
Common stock options granted under the Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in calculation of dilutive net loss per share (in shares)	9,095,439	5,722,342
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities not included in calculation of dilutive net loss per share (in shares)	3,214,503	2,014,503

Related-Party Transactions	3 Months Ended
Related-Party Transactions	Mar. 31, 2023
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions MacAndrews & Forbes Incorporated MacAndrews directly or indirectly controls 23,084,267 shares of Class B common stock. Further, as of March 31, 2023, MacAndrews directly or indirectly holds 36,519,212 shares of the Company’s Class A common stock. As a result, MacAndrews’ holdings represent approximately 57.0% of the combined voting power of the Company’s outstanding common stock. The Company has entered into several agreements with MacAndrews or its affiliates as further detailed below: Letter Agreements The Company had previously entered into the Letter Agreements with MacAndrews. Under the terms of the Letter Agreements, during the one year commitment period beginning on the date of each Letter Agreement, the Company had the right to sell to MacAndrews shares of its Class A common stock at a specified price per share, and MacAndrews had the right (exercisable up to three times) to require the Company to sell to it shares of Class A common stock at the same price. The commitment period of each of the Letter Agreements has now expired. In addition, in connection with and as a commitment fee for the entrance into certain of these Letter Agreements, the Company also issued MacAndrews warrants (the “Letter Agreement Warrants”) to purchase additional shares of the Company’s Class A common stock. The Letter Agreement Warrants have been recorded as warrant liability, related party within the Company’s Condensed Consolidated Balance Sheets based on their fair value. The issuance of the Letter Agreement Warrants was considered to be a cost of equity recorded as a reduction to additional paid-in capital. Exchange Agreement Pursuant to the terms of the Exchange Agreement, but subject to the Amended and Restated LLC Agreement of vTv Therapeutics LLC, the vTv Units (along with a corresponding number of shares of the Class B common stock) are exchangeable for (i) shares of the Company’s Class A common stock on a one-for-one basis or (ii) cash (based on the fair market value of the Company’s Class A common stock as determined pursuant to the Exchange Agreement), at the Company’s option (as the managing member of vTv Therapeutics LLC), subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. Any decision to require an exchange for cash rather than shares of Class A common stock will ultimately be determined by the entire Board of Directors. As of March 31, 2023, MacAndrews had not exchanged any shares under the provisions of the Exchange Agreement. Tax Receivable Agreement The Company and MacAndrews are party to a tax receivable agreement (the “Tax Receivable Agreement”), which provides for the payment by the Company to M&F TTP Holdings Two LLC (“M&F”), as successor in interest to vTv Therapeutics Holdings, LLC (“vTv Therapeutics Holdings”), and M&F TTP Holdings LLC (or certain of its transferees or other assignees) of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company actually realizes (or, in some circumstances, the Company is deemed to realize) as a result of (a) the exchange of Class B common stock, together with the corresponding number of vTv Units, for shares of the Company’s Class A common stock (or for cash), (b) tax benefits related to imputed interest deemed to be paid by the Company as a result of the Tax Receivable Agreement and (c) certain tax benefits attributable to payments under the Tax Receivable Agreement. As no shares have been exchanged by MacAndrews pursuant to the Exchange Agreement (discussed above), the Company has not recognized any liability, nor has it made any payments pursuant to the Tax Receivable Agreement as of March 31, 2023. Investor Rights Agreement The Company is party to an investor rights agreement with M&F, as successor in interest to vTv Therapeutics Holdings (the “Investor Rights Agreement”). The Investor Rights Agreement provides M&F with certain demand, shelf, and piggyback registration rights with respect to its shares of Class A common stock and also provides M&F with certain governance rights, depending on the size of its holdings of Class A common stock. Under the Investor Rights Agreement, M&F was initially entitled to nominate a majority of the members of the Board of Directors and designate the members of the committees of the Board of Directors. G42 Investments On May 31, 2022, the Company entered into a common stock purchase agreement with G42 Investments pursuant to which the Company sold to G42 Investments 10,386,274 shares of the Company’s Class A common stock at a price per share of approximately $2.41, for an aggregate purchase price of $25.0 million, which was paid (i) $12.5 million in cash at the closing and (ii) $12.5 million in the form of a promissory note of G42 Investments to be paid on May 31, 2023 (the “G42 Promissory Note”). As part of the G42 Purchase Agreement, G42 Investments put forward a director as appointee and the Company’s board of directors appointed the new director to the Company’s board on July 11, 2022. On February 28, 2023, the Company and G42 Investments entered into an amendment of the common stock purchase agreement pursuant to which G42 Investments agreed to accelerate payment of the amount due under the promissory note. On February 28, 2023, the Company received $12.0 million from G42 Investments, which represented a 3.75% discount to the full amount due under the promissory note, in full and final satisfaction of the promissory note, resulting in a loss of $0.3 million and was recognized as a component of other income/(expense) in the Company’s Condensed Consolidated Statements of Operations. CinRx Pharma, LLC Master Services Agreement On July 22, 2022, the Company entered into a Master Services Agreement with CinRx Pharma, LLC (“CinRx”) (the “CinRx MSA”). Under the CinRx MSA, CinRx provides the Company with consulting and clinical trial services, as enumerated in project proposals negotiated between the Company and CinRx from time to time. As of October 10, 2022, the Company has agreed to pay CinRx fees of up to $0.2 million per month until approximately December 2024 in respect of ongoing agreed project proposals under the CinRx MSA, plus out-of-pocket expenses incurred by CinRx on the Company’s behalf. Dr. Jonathan Isaacsohn, who was appointed as chair of the Company’s board of directors on August 9, 2022, is the President and Chief Executive Officer of CinRx. CinPax, LLC, a subsidiary of CinRx, currently holds 4,154,549 shares of the Company’s Class A common stock.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to U.S. federal income taxes as well as state taxes. The Company did not record an income tax provision for the three months ended March 31, 2023. The Company’s income tax provision for the three months ended March 31, 2022, was $0.2 million representing foreign withholding taxes incurred in connection with payments received under license agreements with foreign entities. Management has evaluated the positive and negative evidence surrounding the realization of its deferred tax assets, including the Company’s history of losses, and under the applicable accounting standards determined that it is more-likely-than-not that the deferred tax assets will not be realized. The difference between the effective tax rate of the Company and the U.S. statutory tax rate of 21% on March 31, 2023, is due to the valuation allowance against the Company’s expected net operating losses. As discussed in Note 10, the Company is party to a tax receivable agreement with a related party which provides for the payment by the Company to M&F (or certain of its transferees or other assignees) of 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax or franchise tax that the Company actually realizes (or, in some circumstances, the Company is deemed to realize) as a result of certain transactions. As no transactions have occurred which would trigger a liability under this agreement, the Company has not recognized any liability related to this agreement as of March 31, 2023.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022	May 04, 2021	Dec. 31, 2020
Class A Common Stock
Common stock par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000	200,000,000	100,000,000
Common stock, shares outstanding (in shares)	81,483,600
Class B Common Stock
Common stock par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares outstanding (in shares)	23,093,860	23,093,860

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters From time to time, the Company is involved in various legal proceedings arising in the normal course of business. If a specific contingent liability is determined to be probable and can be reasonably estimated, the Company accrues and discloses the amount. The Company is not currently a party to any material legal proceedings. Novo Nordisk In February 2007, the Company entered into an Agreement Concerning Glucokinase Activator Project with Novo Nordisk A/S (the “Novo License Agreement”) whereby the Company obtained an exclusive, worldwide, sublicensable license under certain Novo Nordisk intellectual property rights to discover, develop, manufacture, have manufactured, use and commercialize products for the prevention, treatment, control, mitigation or palliation of human or animal diseases or conditions. As part of this license grant, the Company obtained certain worldwide rights to Novo Nordisk’s GKA program, including rights to preclinical and clinical compounds such as TTP399. This agreement was amended in May 2019 to create milestone payments applicable to certain specific and non-specific areas of therapeutic use. Under the terms of the amended Novo License Agreement, the Company has potential developmental and regulatory milestone payments totaling up to $9.0 million for approval of a product for the treatment of type 1 diabetes, $50.5 million for approval of a product for the treatment of type 2 diabetes, or $115.0 million for approval of a product in any other indication. The Company may also be obligated to pay an additional $75.0 million in potential sales-based milestones, as well as royalty payments, at mid-single digit royalty rates, based on tiered sales of commercialized licensed products. During the fourth quarter of 2021, the Company made a payment of $2.0 million related to the satisfaction of the milestone to complete the phase 2 trials for TTP399 under this agreement.

Stockholders' Deficit	3 Months Ended
Stockholders' Deficit	Mar. 31, 2023
Equity [Abstract]
Stockholders' Deficit	Stockholders’ Deficit Amendment to Certificate of Incorporation On May 4, 2021, the Company filed an amendment to its Amended and Restated Certificate of Incorporation (the “Charter Amendment”) to increase the number of shares of Class A common stock that the Company is authorized to issue from 100,000,000 shares of Class A common stock to 200,000,000 shares of Class A common stock, representing an increase of 100,000,000 shares of authorized Class A common stock, with a corresponding increase in the total authorized common stock, which includes Class A common stock and Class B common stock, from 200,000,000 to 300,000,000, and a corresponding increase in the total authorized capital stock, which includes common stock and preferred stock, from 250,000,000 shares to 350,000,000 shares. G42 Investments Transaction On May 31, 2022, the Company and G42 Investments entered in to the G42 Purchase Agreement (see Note 3), pursuant to which the Company agreed to sell to G42 Investments 10,386,274 shares of the Company's Class A common stock at a price per share of approximately $2.41, for an aggregate purchase price of $25.0 million, consisting of (i) $12.5 million in cash at the closing of the transaction and (ii) $12.5 million in the form of a promissory note of G42 Investments to be paid at the one-year anniversary of the execution of the G42 Purchase Agreement (the “G42 Promissory Note”). On February 28, 2023, the Company and G42 Investments amended the G42 Purchase Agreement and modified the G42 Promissory Note to accelerate the payment due under the note. Pursuant to the amendment, on February 28, 2023, the Company received $12.0 million, which reflected the original amount due under the G42 Promissory Note less a 3.75% discount, in full satisfaction of the note, resulting in a loss of $0.3 million and was recognized as a component of other income/(expense) in the Company’s Condensed Consolidated Statements of Operations. CinPax and CinRx Transaction On July 22, 2022 (the “Transaction Date”), the Company entered into the CinRx Purchase Agreement with CinPax and CinRx, pursuant to which the Company agreed to sell to CinPax 4,154,549 shares of the Company’s Class A common stock at a price per share of approximately $2.41, for an aggregate purchase price of $10.0 million, which was paid (i) $6.0 million in cash at the closing of the transaction and (ii) $4.0 million in the form of a non-interest-bearing promissory note with CinPax and was paid to the Company on November 22, 2022. The CinRx Purchase Agreement provides CinPax the right to nominate a director to be approved to sit on the Company’s Board of Directors and a board observer, which was subsequently approved by the Company’s board. Common stock is generally recorded at fair value at the date of issuance. In determining the fair value of the Class A common stock issued to CinPax, the Company considered the closing price of the common stock on the Transaction Date. The Company did not make an adjustment to the fair value for sale restrictions on the stock in accordance with guidance recently adopted in ASU 2022-03. See the “Recently Issued Accounting Guidance” in this quarterly report on Form 10-Q for details of the ASU. Accordingly, the Company determined that cash consideration of $3.0 million should be recorded as fair value of the Class A common stock at the effective date, utilizing the Class A common stock closing price of $0.72 at the effective date. The CinRx Purchase Agreement also provides CinRx warrants to purchase up to 1,200,000 shares of common stock at an initial exercise of price of approximately $0.72 per share (the “CinRx Warrants”). The CinRx Warrants were initially measured at fair value of $0.4 million using the Black-Scholes option model at the time of issuance and will be recorded in Warrant liability related party in the Condensed Consolidated Balance Sheets and will be subsequently remeasured at fair value through earnings on a recurring basis. (see Note 13) The CinRx Warrants will become exercisable by CinRx only if (i) the Company receives approval from the U.S. Food and Drug Administration (“FDA Approval”) to market and distribute the pharmaceutical product containing the Company’s proprietary candidate, TTP399 (the “Product”), or (ii) the Company is acquired by a third party, sells all or substantially all of its assets related to the Product to a third party or grants a third party an exclusive license to develop, commercialize and manufacture the Product in the United States. If neither of these events happen within five years of the date of the issuance of the CinRx Warrants, the CinRx Warrants will expire and not be exercisable by CinRx. The exercise price of the CinRx Warrants and the number of shares issuable upon exercise of the CinRx Warrants are subject to adjustments in accordance with the terms of the CinRx Warrants. Additionally, in conjunction with the CinRx Purchase Agreement the Company and CinRx entered into a Master Service Agreement (“CinRx MSA”) whereby CinRx provides the Company with consulting, preclinical and clinical trial services, as enumerated in project proposals negotiated between the Company and CinRx from time to time. (see Note 10) The Company did not identify any other promises in the CinRx Purchase Agreement (aside from the issuance of common shares and the CinRx Warrants) and determined since there is no value ascribed to the CinRx MSA, the right to appoint a member and observer to the board of directors, that the remaining unallocated amount meets the definition of contributed equity and represents the amount in excess of par. ATM Offering In April 2020, the Company entered into the Sales Agreement with Cantor as the sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor, shares of its Class A common stock, par value $0.01 per share, having an aggregate offering price of up to $13.0 million by any method deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act (the “ATM Offering”). The shares are offered and sold pursuant to the Company’s shelf registration statement on Form S-3. On January 14, 2021 and June 25, 2021, the Company filed a prospectus supplement in connection with the ATM Offering to increase the size of the at-the-market offering pursuant to which the Company may offer and sell, from time to time, through or to Cantor, as sales agent or principal, shares of the Company’s Class A common stock, by an aggregate offering price of $5.5 million and $50.0 million, respectively. During the three months ended March 31, 2023 and 2022, the Company did not sell any shares under the ATM Offering. Lincoln Park Capital Transaction On November 24, 2020, the Company entered into the LPC Purchase Agreement and a registration rights agreement (the “Registration Rights Agreement”), pursuant to which the Company has the right to sell to Lincoln Park shares of the Company’s Class A common stock having an aggregate value of up to $47.0 million, subject to certain limitations and conditions set forth in the LPC Purchase Agreement. The Company will control the timing and amount of any sales of shares to Lincoln Park. pursuant to the Purchase Agreement. During the three months ended March 31, 2023 and 2022, the Company did not sell any shares under the LPC Purchase Agreement.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

Related-Party Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Feb. 28, 2023	May 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Oct. 10, 2022
Related Party Transaction [Line Items]
Loss from promissory note early redemption			$ 313	$ 0
G42 Investments
Related Party Transaction [Line Items]
Shares sold (in shares)		10,386,274
Sale of stock, price per share (in usd per shares)		$ 2.41
Sale of stock, consideration received on transaction, gross		$ 25,000
Sale of stock, consideration received on transaction		12,500
Accounts and financing receivable, after allowance for credit loss		12,500
Proceeds from collection of notes receivable	$ 12,000
Discount rate	3.75%
Loss from promissory note early redemption	$ 300
G42 Investments
Related Party Transaction [Line Items]
Sale of stock, consideration received on transaction, gross		25,000
Sale of stock, consideration received on transaction		12,500
Accounts and financing receivable, after allowance for credit loss		$ 12,500
Proceeds from collection of notes receivable	$ 12,000
Discount rate	3.75%
Class A Common Stock \| CinRx Pharma, LLC
Related Party Transaction [Line Items]
Shares held by related party (in shares)			4,154,549
Class A Common Stock \| G42 Investments
Related Party Transaction [Line Items]
Shares sold (in shares)		10,386,274
Sale of stock, price per share (in usd per shares)		$ 2.41
MacAndrews & Forbes Incorporated
Related Party Transaction [Line Items]
Ownership percentage of majority owner			57.00%
Amount of cash savings percentage			85.00%
MacAndrews & Forbes Incorporated \| Class B Common Stock
Related Party Transaction [Line Items]
Shares held by related party (in shares)			23,084,267
MacAndrews & Forbes Incorporated \| Class A Common Stock
Related Party Transaction [Line Items]
Shares held by related party (in shares)			36,519,212
Affiliated Entity \| Master Service Agreement
Related Party Transaction [Line Items]
Due to related parties, monthly amount					$ 200

Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Change in fair value of investments	$ 2,104	$ (3,234)
Reneo
Equity method investments, ownership percentage	20.00%
Change in fair value of investments	$ 2,100	$ 3,200

Description of Business, Basis of Presentation and Going Concern	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Description of Business, Basis of Presentation and Going Concern	Description of Business, Basis of Presentation and Going Concern Description of Business vTv Therapeutics Inc. (the “Company,” the “Registrant,” “we” or “us”) was incorporated in the state of Delaware in April 2015. The Company is a clinical stage pharmaceutical company focused on treating metabolic diseases to minimize their long-term complications through end-organ protection. Principles of Consolidation vTv Therapeutics Inc. is a holding company, and its principal asset is a controlling equity interest in vTv Therapeutics LLC (“vTv LLC”), the Company’s principal operating subsidiary, which is a clinical stage pharmaceutical company engaged in the discovery and development of orally administered small molecule drug candidates to fill significant unmet medical needs. The Company has determined that vTv LLC is a variable-interest entity (“VIE”) for accounting purposes and that vTv Therapeutics Inc. is the primary beneficiary of vTv LLC because (through its managing member interest in vTv LLC and the fact that the senior management of vTv Therapeutics Inc. is also the senior management of vTv LLC) it has the power and benefits to direct all of the activities of vTv LLC, which include those that most significantly impact vTv LLC’s economic performance. vTv Therapeutics Inc. has therefore consolidated vTv LLC’s results pursuant to Accounting Standards Codification Topic 810, “Consolidation” in its Condensed Consolidated Financial Statements. Various holders own non-voting interests in vTv LLC, representing a 22.1% economic interest in vTv LLC, effectively restricting vTv Therapeutics Inc.’s interest to 77.9% of vTv LLC’s economic results, subject to increase in the future, should vTv Therapeutics Inc. purchase additional non-voting common units (“vTv Units”) of vTv LLC, or should the holders of vTv Units decide to exchange such units (together with shares of the Company’s Class B common stock, par value $0.01 (“Class B common stock”)) for shares of Class A common stock (or cash) pursuant to the Exchange Agreement (as defined in Note 9). vTv Therapeutics Inc. has provided financial and other support to vTv LLC in the form of its purchase of vTv Units with the net proceeds of the Company’s initial public offering (“IPO”) in 2015, its registered direct offering in March 2019, and its agreeing to be a co-borrower under the Venture Loan and Security Agreement (the “Loan Agreement”) with Horizon Technology Finance Corporation and Silicon Valley Bank (together, the “Lenders”) which was entered into in 2016. vTv Therapeutics Inc. entered into the letter agreements with MacAndrews and Forbes Group LLC (“M&F Group”), a related party and an affiliate of MacAndrews & Forbes Incorporated (together with its affiliates “MacAndrews”) in December 2017, July 2018, December 2018, March 2019, September 2019, and December 2019 (each a “Letter Agreement” and collectively, the “Letter Agreements”). In addition, vTv Therapeutics Inc. also entered into the Controlled Equity OfferingSM Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor Fitzgerald”) (the “ATM Offering”), the purchase agreement with Lincoln Park Capital Fund, LLC (“Lincoln Park”) (the “LPC Purchase Agreement”), the common stock purchase agreement with G42 Investments AI Holding RSC Ltd (“G42 Investments”) (the “G42 Purchase Agreement”) and the common stock and warrant purchase agreement with CinPax, LLC and CinRx, LLC, respectively (the “CinRx Purchase Agreement”). vTv Therapeutics Inc. will not be required to provide financial or other support for vTv LLC. However, vTv Therapeutics Inc. will control its business and other activities through its managing member interest in vTv LLC, and its management is the management of vTv LLC. Nevertheless, because vTv Therapeutics Inc. will have no material assets other than its interests in vTv LLC, any financial difficulties at vTv LLC could result in vTv Therapeutics Inc. recognizing a loss. Going Concern and Liquidity To date, the Company has not generated any product revenue and has not achieved profitable operations. The continuing development of our drug candidates will require additional financing. From its inception through March 31, 2023, the Company has funded its operations primarily through a combination of private placements of common and preferred equity, research collaboration agreements, upfront and milestone payments for license agreements, debt and equity financings and the completion of its IPO in August 2015. As of March 31, 2023, the Company had an accumulated deficit of $274.3 million and has generated net losses in each year of its existence. As of March 31, 2023, the Company’s liquidity sources included cash and cash equivalents of $18.8 million. Based on our current operating plan, we believe that our current cash and cash equivalents will allow us to meet our liquidity requirements into the third quarter of 2023. To meet our future funding requirements into the first quarter of 2024, including funding the on-going and future clinical trials of TTP399, we are evaluating several financing strategies, including direct equity investments and the potential licensing and monetization of other Company programs. The Company may also use its remaining availability of $37.3 million under its Controlled Equity Offering℠ Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor Fitzgerald) pursuant to which the Company may offer and sell, from time to time shares of the Company’s Class A common stock (the “ATM Offering”) and the ability to sell an additional 9,437,376 shares of Class A common stock under the LPC Purchase Agreement based on the remaining number of registered shares. However, the ability to use these sources of capital is dependent on a number of factors, including the prevailing market price of and the volume of trading in the Company’s Class A common stock. See Note 9 for further details. If we are unable to raise additional capital as and when needed, or upon acceptable terms, such failure would have a significant negative impact on our financial condition. As such, these conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company’s financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Condensed Consolidated Financial Statements do not include adjustments to reflect the possible future effects on the recoverability and classification of recorded assets or the amounts of liabilities that might be necessary should the Company be unable to continue as a going concern.

Leases - Schedule of Maturities of Lease Liabilities for Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Nov. 30, 2022
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2023 (remaining nine months)	$ 145
2024	194
2025	177
2026	0
2027	0
Thereafter	0
Total lease payments	516
Less: imputed interest	(62)
Present value of lease liabilities	$ 454	$ 100

Redeemable Noncontrolling Interest

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

The Company is subject to the Exchange Agreement with respect to the vTv Units representing the 22.1% noncontrolling interest in vTv LLC outstanding as of March 31, 2023 (see Note 9). The Exchange Agreement requires the surrender of an equal number of vTv Units and Class B common stock for (i) shares of Class A common stock on a one-for-one basis or (ii) cash (based on the fair market value of the Class A common stock as determined pursuant to the Exchange Agreement), at the Company’s option (as the managing member of vTv LLC), subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. The exchange value is determined based on a 20-day volume weighted average price of the Class A common stock as defined in the Exchange Agreement, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications.

The redeemable noncontrolling interest is recognized at the higher of (1) its initial fair value plus accumulated earnings/losses associated with the noncontrolling interest or (2) the redemption value as of the balance sheet date. At March 31, 2023 and December 31, 2022, the redeemable noncontrolling interest was recorded based on the redemption value as of the balance sheet date of $19.6 million and $16.6 million, respectively.

Changes in the Company’s ownership interest in vTv LLC while the Company retains its controlling interest in vTv LLC are accounted for as equity transactions, and the Company is required to adjust noncontrolling interest and equity for

such changes. The following is a summary of net income attributable to vTv Therapeutics Inc. and transfers to noncontrolling interest:


	For the Three Months Ended March 31,
	2023		2022
Net loss attributable to vTv Therapeutics Inc. common shareholders	$	(4,499)	$	(7,007)
Decrease in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances	1,345		2,432
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$	(3,154)	$	(4,575)

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Loss per Share of Class A Common Stock

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share of Class A common stock is as follows (amounts in thousands, except per share amounts):


	For the Three Months Ended March 31,
	2023		2022
Numerator:
Net loss	$	(5,774)	$	(9,424)
Less: Net loss attributable to noncontrolling interests	(1,275)		(2,417)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic and diluted	(4,499)		(7,007)
Denominator:
Weighted average vTv Therapeutics Inc. Class A common stock, basic and diluted	81,483,600		66,942,777
Net loss per share of vTv Therapeutics Inc. Class A common stock, basic and diluted	$	(0.06)	$	(0.10)

Schedule of Potentially Dilutive Securities not Included in Calculation of Diluted Net Loss per Share

Potentially dilutive securities not included in the calculation of dilutive net loss per share are as follows:


	March 31, 2023	March 31, 2022
Class B common stock (1)	23,093,860	23,093,860
Common stock options granted under the Plan	9,095,439	5,722,342
Common stock warrants	3,214,503	2,014,503
Total	35,403,802	30,830,705

___________________________


			(1)			Shares of Class B common stock do not share in the Company’s earnings and are not participating securities. Accordingly, separate presentation of loss per share of Class B common stock under the two-class method has not been provided. Each share of Class B common stock (together with a corresponding vTv Unit) is exchangeable for one share of Class A common stock.

Fair Value of Financial Instruments - Summarizes the Conclusions Reached Regarding Fair Value Measurements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Significant Unobservable Inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	$ 684	$ 1,262
Net Change in fair value included in earnings	238	(492)
Purchases / Issuance	0	0
Sales / Repurchases	0	0
Ending Balance	922	$ 770
Fair Value, Measurements, Recurring
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets:	3,447		$ 1,343
Equity securities with readily determinable fair value - Total	3,447		1,343
Liabilities:	922		684
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets:	3,447		1,343
Equity securities with readily determinable fair value - Total	3,447		1,343
Liabilities:	0		0
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Warrant liability, related party
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities:	0		0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets:	0		0
Equity securities with readily determinable fair value - Total	0		0
Liabilities:	0		0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2) \| Warrant liability, related party
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities:	0		0
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Assets:	0		0
Equity securities with readily determinable fair value - Total	0		0
Liabilities:	922		684
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3) \| Warrant liability, related party
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Liabilities:	$ 922		$ 684

Leases - (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Nov. 30, 2022
Leases [Abstract]
Lessee, operating lease, renewal term	5 years
Lessee, operating lease, termination period	3 years
Present value of lease liabilities	$ 454		$ 100
Operating lease right-of-use assets	$ 324	$ 349	$ 100
Weighted average incremental borrowing rate	9.50%	9.50%
Remaining operating lease term	2 years 8 months 12 days	2 years 10 months 24 days

Condensed Consolidated Statements of Operations - Unaudited - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue	$ 0	$ 2,000
Operating expenses:
Research and development	3,942	3,133
General and administrative	3,485	5,348
Total operating expenses	7,427	8,481
Operating loss	(7,427)	(6,481)
Other income (expense), net	1,791	(3,234)
Other (expense) income – related party	(238)	492
Interest income	100	0
Interest expense	0	(1)
Loss before income taxes and noncontrolling interest	(5,774)	(9,224)
Income tax provision	0	200
Net loss before noncontrolling interest	(5,774)	(9,424)
Less: net loss attributable to noncontrolling interest	(1,275)	(2,417)
Net loss attributable to vTv Therapeutics Inc.	(4,499)	(7,007)
Net loss attributable to vTv Therapeutics Inc. common shareholders	$ (4,499)	$ (7,007)
Class A Common Stock
Operating expenses:
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic (in usd per share)	$ (0.06)	$ (0.10)
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, diluted (in usd per share)	$ (0.06)	$ (0.10)
Weighted-average number of vTv Therapeutics Inc. Class A Common Stock, basic (in shares)	81,483,600	66,942,777
Weighted-average number of vTv Therapeutics Inc. Class A Common Stock, diluted (in shares)	81,483,600	66,942,777

Investments (Tables)

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Equity Investments with and without Readily Determinable Fair Values Assessed

The Company’s investments consist of the following:


	March 31, 2023		December 31, 2022
Equity investment with readily determinable fair value:
Reneo common stock	$	3,447	$	1,343

Equity investment without readily determinable fair values assessed under the measurement alternative:
Anteris preferred stock	4,245		4,245
Total	$	7,692	$	5,588

Fair Value of Financial Instruments - Fair Value Measurement Inputs and Valuation Techniques (Detail)	Mar. 31, 2023	Dec. 31, 2022
CinRx Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected life of options in years	3 years 7 months 6 days
Expected volatility \| CinRx Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.822
Risk-free interest rate \| CinRx Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.037
Expected dividend yield \| CinRx Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0
Minimum \| Expected volatility \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.7322	0.7694
Minimum \| Risk-free interest rate \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.0373	0.0411
Maximum \| Expected volatility \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.8359	0.8588
Maximum \| Risk-free interest rate \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.0424	0.0443
Weighted Average \| Expected volatility \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.8139	0.8217
Weighted Average \| Risk-free interest rate \| Letter Agreement Warrants
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.0384	0.0419

Investments

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Investments

In connection with the Reneo and Anteris License Agreements, the Company has received equity ownership interests of less than 20% of the voting equity of the investee. Further, the Company does not have the ability to exercise significant influence over the investees. The investments are classified as long-term investments in the Company’s Condensed Consolidated Balance Sheets.

Reneo completed its initial public offering in April 2021. Prior to Reneo becoming a publicly-traded company, the Company’s investment in Reneo did not have a readily determinable fair value and was measured at cost less impairment, adjusted for any changes in observable prices, under the measurement alternative. Subsequent to Reneo’s initial public offering, the Company’s investment in Reneo is considered to have a readily determinable fair value and, as such, is adjusted to its fair value each period with changes in fair value recognized as a component of net loss.

The Company’s investment in Anteris does not have a readily determinable fair value and is measured at cost less impairment, adjusted for any changes in observable prices.

The Company’s investments consist of the following:


	March 31, 2023		December 31, 2022
Equity investment with readily determinable fair value:
Reneo common stock	$	3,447	$	1,343

Equity investment without readily determinable fair values assessed under the measurement alternative:
Anteris preferred stock	4,245		4,245
Total	$	7,692	$	5,588

No adjustments have been made to the value of the Company’s investment in Anteris since its initial measurement either due to impairment or based on observable price changes. The Company recognized an unrealized gain on its investment in Reneo of $2.1 million for the three months ended March 31, 2023, respectively. The Company recognized an unrealized loss on its investment in Reneo of $3.2 million for the three months ended March 31, 2022. These adjustments were recognized as a component of other income/(expense) in the Company’s Condensed Consolidated Statements of Operations.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe Company evaluated subsequent events through May 11, 2023, and determined that there have been no events that have occurred that would require adjustments to our disclosures or the unaudited condensed consolidated financial statements.

Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

In August 2019, the Company leased office space for its headquarters location under an operating lease. This lease commenced in November 2019 after the completion of certain tenant improvements made by the lessor. The lease includes an option to renew for a five-year term as well as an option to terminate after three years, neither of which have been recognized as part of its related right of use assets or lease liabilities as their election is not considered reasonably certain. In November 2022, the Company entered into a second amendment to the lease, (i) to reduce the square footage and (ii) to extend the lease term, which constituted a modification event under ASC 842 and, the lease classification for the asset remains as an operating lease. As a result of the remeasurement of the associated lease liabilities, the Company recognized additional right of use assets and corresponding lease liabilities of $0.1 million. Further, the second amendment to the lease does not include any material residual value guarantee or restrictive covenants.

At each of March 31, 2023 and December 31, 2022, the weighted average incremental borrowing rate for the operating leases held by the Company was 9.5%. At March 31, 2023 and December 31, 2022, the weighted average remaining lease terms for the operating leases held by the Company were 2.7 years and 2.9 years, respectively.

Maturities of lease liabilities for the Company’s operating leases as of March 31, 2023, were as follows (in thousands):


2023 (remaining nine months)	$	145
2024	194
2025	177
2026	—
2027	—
Thereafter	—
Total lease payments	516
Less: imputed interest	(62)
Present value of lease liabilities	$	454

Operating lease cost and the related operating cash flows for the three months ended March 31, 2023 and 2022 were immaterial amounts.

Collaboration Agreements - Contract with Customer, Contract Asset, Contract Liability, and Receivable Changes (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Revenue from Contract with Customer [Roll Forward]
Beginning balance	$ 18,686
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	0
Ending balance	$ 18,686

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying Condensed Consolidated Balance Sheet as of March 31, 2023, Condensed Consolidated Statements of Operations for the three months ended March 31, 2023 and 2022, Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Stockholders’ Deficit for the three months ended March 31, 2023 and 2022 and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 2022 are unaudited. These unaudited financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the audited financial statements and the accompanying notes for the year ended December 31, 2022, contained in the Company’s Annual Report on Form 10-K. The unaudited interim financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of March 31, 2023, the results of operations for the three months ended March 31, 2023 and 2022 and cash flows for the three months ended March 31, 2023 and 2022. The December 31, 2022 Condensed Consolidated Balance Sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements. The financial data and other information disclosed in these notes to the financial statements related to the three months ended March 31, 2023 and 2022 are unaudited. Interim results are not necessarily indicative of results for an entire year. The Company does not have any components of other comprehensive income recorded within its Condensed Consolidated Financial Statements, and, therefore, does not separately present a statement of comprehensive income in its Condensed Consolidated Financial Statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the grant date fair value of equity awards, the fair value of warrants to purchase shares of its Class A common stock, the fair value of its Class B common stock, the useful lives of property and equipment and the fair value of the Company’s debt, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Concentration of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with one financial institution. The balance of the cash account frequently exceed insured limits. One hundred percent (100%) of the revenue earned during the three months ended March 31, 2022, was attributable from the satisfaction of a development milestone from the First Huadong Amendment (as defined herein). The Company did not have any revenue during the three months ended March 31, 2023. Cash and Cash Equivalents The Company considers any highly liquid investments with an original maturity of three months or less to be cash and cash equivalents. Investments Investments in entities in which the Company has no control or significant influence, is not the primary beneficiary, and have a readily determinable fair value are classified as equity investments with readily determinable fair value. The investments are measured at fair value based on a quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs (Level 1). Gains and losses are recorded in other income (expense), net on the Condensed Consolidated Statements of Operations. Equity investments without readily determinable fair value include ownership rights that do not provide the Company with control or significant influence and these investments do not have readily determinable fair values. The Company has elected to measure its equity investments without readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment. Revenue Recognition The Company uses the revenue recognition guidance established by ASC 606, Revenue From Contracts With Customers (“ASC 606”). When an agreement falls under the scope of other standards, such as ASC 808, Collaborative Arrangements (“ASC 808”), the Company will apply the recognition, measurement, presentation, and disclosure guidance in ASC 606 to the performance obligations in the agreements if those performance obligations are with a customer. Revenue recognized by analogizing to ASC 606, is recorded as collaboration revenue on the statements of operations. The majority of the Company’s revenue results from its license and collaboration agreements associated with the development of investigational drug products. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For each contract meeting these criteria, the Company identifies the performance obligations included within the contract. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. The Company then recognizes revenue under each contract as the related performance obligations are satisfied. The transaction price under the contract is determined based on the value of the consideration expected to be received in exchange for the transferred assets or services. Development, regulatory and sales milestones included in the Company’s collaboration agreements are considered to be variable consideration. The amount of variable consideration expected to be received is included in the transaction price when it becomes probable that the milestone will be met. For contracts with multiple performance obligations, the contract’s transaction price is allocated to each performance obligation using the Company’s best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus margin approach. Revenue is recognized over the related period over which the Company expects the services to be provided using a proportional performance model or a straight-line method of recognition if there is no discernible pattern over which the services will be provided. Research and Development Major components of research and development costs include cash compensation, depreciation expense on research and development property and equipment, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, facilities cost, overhead costs, regulatory and compliance costs, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. Research and development costs are expensed as incurred. The Company records accruals based on estimates of the services received, efforts expended and amounts owed pursuant to contracts with numerous contract research and manufacturing organizations. In the normal course of business, the Company contracts with third parties to perform various clinical study activities in the ongoing development of potential products. The financial terms of these agreements are subject to negotiation and variation from contract to contract and may result in uneven payment flows. Payments under the contracts depend on factors such as the achievement of certain events and the completion of portions of the clinical study or similar conditions. The objective of the Company’s accrual policy is to match the recording of expenses in its financial statements to the actual services received and efforts expended. As such, expense accruals related to clinical studies are recognized based on the Company’s estimate of the degree of completion of the event or events specified in the specific clinical study. The Company records nonrefundable advance payments it makes for future research and development activities as prepaid expenses. Prepaid expenses are recognized as expense in the Condensed Consolidated Statements of Operations as the Company receives the related goods or services. Research and development costs that are reimbursed under a cost-sharing arrangement are reflected as a reduction of research and development expense. Recently Issued Accounting Pronouncements Fair Value Measurements: In June 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-03 “Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company has assessed ASU 2022-03 and early adopted the guidance during the second quarter of 2022. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements.

Collaboration Agreements - Summary of Contract Liabilities Related to Company's Collaboration Agreements (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Deferred Revenue Disclosure [Abstract]
Current portion of contract liabilities	$ 17	$ 17
Contract liabilities, net of current portion	18,669	18,669
Total contract liabilities	$ 18,686	$ 18,686

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The accompanying Condensed Consolidated Balance Sheet as of March 31, 2023, Condensed Consolidated Statements of Operations for the three months ended March 31, 2023 and 2022, Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Stockholders’ Deficit for the three months ended March 31, 2023 and 2022 and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2023 and 2022 are unaudited. These unaudited financial statements have been prepared in accordance with the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the audited financial statements and the accompanying notes for the year ended December 31, 2022, contained in the Company’s Annual Report on Form 10-K. The unaudited interim financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary to state fairly the Company’s financial position as of March 31, 2023, the results of operations for the three months ended March 31, 2023 and 2022 and cash flows for the three months ended March 31, 2023 and 2022. The December 31, 2022 Condensed Consolidated Balance Sheet included herein was derived from the audited financial statements but does not include all disclosures or notes required by GAAP for complete financial statements. The financial data and other information disclosed in these notes to the financial statements related to the three months ended March 31, 2023 and 2022 are unaudited. Interim results are not necessarily indicative of results for an entire year. The Company does not have any components of other comprehensive income recorded within its Condensed Consolidated Financial Statements, and, therefore, does not separately present a statement of comprehensive income in its Condensed Consolidated Financial Statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, the Company evaluates its estimates, including those related to the grant date fair value of equity awards, the fair value of warrants to purchase shares of its Class A common stock, the fair value of its Class B common stock, the useful lives of property and equipment and the fair value of the Company’s debt, among others. The Company bases its estimates on historical experience and on various other assumptions that it believes to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially expose the Company to concentrations of credit risk consist principally of cash on deposit with one financial institution. The balance of the cash account frequently exceed insured limits. One hundred percent (100%) of the revenue earned during the three months ended March 31, 2022, was attributable from the satisfaction of a development milestone from the First Huadong Amendment (as defined herein). The Company did not have any revenue during the three months ended March 31, 2023.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers any highly liquid investments with an original maturity of three months or less to be cash and cash equivalents.
Investments	Investments Investments in entities in which the Company has no control or significant influence, is not the primary beneficiary, and have a readily determinable fair value are classified as equity investments with readily determinable fair value. The investments are measured at fair value based on a quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs (Level 1). Gains and losses are recorded in other income (expense), net on the Condensed Consolidated Statements of Operations. Equity investments without readily determinable fair value include ownership rights that do not provide the Company with control or significant influence and these investments do not have readily determinable fair values. The Company has elected to measure its equity investments without readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment.
Revenue Recognition	Revenue Recognition The Company uses the revenue recognition guidance established by ASC 606, Revenue From Contracts With Customers (“ASC 606”). When an agreement falls under the scope of other standards, such as ASC 808, Collaborative Arrangements (“ASC 808”), the Company will apply the recognition, measurement, presentation, and disclosure guidance in ASC 606 to the performance obligations in the agreements if those performance obligations are with a customer. Revenue recognized by analogizing to ASC 606, is recorded as collaboration revenue on the statements of operations. The majority of the Company’s revenue results from its license and collaboration agreements associated with the development of investigational drug products. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For each contract meeting these criteria, the Company identifies the performance obligations included within the contract. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. The Company then recognizes revenue under each contract as the related performance obligations are satisfied. The transaction price under the contract is determined based on the value of the consideration expected to be received in exchange for the transferred assets or services. Development, regulatory and sales milestones included in the Company’s collaboration agreements are considered to be variable consideration. The amount of variable consideration expected to be received is included in the transaction price when it becomes probable that the milestone will be met. For contracts with multiple performance obligations, the contract’s transaction price is allocated to each performance obligation using the Company’s best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus margin approach. Revenue is recognized over the related period over which the Company expects the services to be provided using a proportional performance model or a straight-line method of recognition if there is no discernible pattern over which the services will be provided.
Research and Development	Research and Development Major components of research and development costs include cash compensation, depreciation expense on research and development property and equipment, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, facilities cost, overhead costs, regulatory and compliance costs, and fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf. Research and development costs are expensed as incurred. The Company records accruals based on estimates of the services received, efforts expended and amounts owed pursuant to contracts with numerous contract research and manufacturing organizations. In the normal course of business, the Company contracts with third parties to perform various clinical study activities in the ongoing development of potential products. The financial terms of these agreements are subject to negotiation and variation from contract to contract and may result in uneven payment flows. Payments under the contracts depend on factors such as the achievement of certain events and the completion of portions of the clinical study or similar conditions. The objective of the Company’s accrual policy is to match the recording of expenses in its financial statements to the actual services received and efforts expended. As such, expense accruals related to clinical studies are recognized based on the Company’s estimate of the degree of completion of the event or events specified in the specific clinical study. The Company records nonrefundable advance payments it makes for future research and development activities as prepaid expenses. Prepaid expenses are recognized as expense in the Condensed Consolidated Statements of Operations as the Company receives the related goods or services. Research and development costs that are reimbursed under a cost-sharing arrangement are reflected as a reduction of research and development expense.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Fair Value Measurements: In June 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2022-03 “Fair Value Measurements (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” These amendments clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This guidance is effective for public business entities for fiscal years, including interim periods within those fiscal years, beginning after December 15, 2023. Early adoption is permitted. The Company has assessed ASU 2022-03 and early adopted the guidance during the second quarter of 2022. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130561-203045

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126899994&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130566-203045

+ Details

Collaboration Agreements

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Collaboration Agreements

G42 Purchase Agreement and Cogna Collaborative and License Agreement

The Company and G42 Investments AI Holding RSC Ltd, a private limited company (“G42 Investments”), entered into a Common Stock Purchase Agreement (the “G42 Purchase Agreement”), pursuant to which the Company sold to G42 Investments 10,386,274 shares of the Company’s Class A common stock at a price per share of approximately $2.41, for an aggregate purchase price of $25.0 million, which was paid (i) $12.5 million in cash at the closing and (ii) $12.5 million in the form of a promissory note of G42 Investments to be paid at May 31, 2023 (the “G42 Promissory Note”). As part of the G42 Purchase Agreement, G42 Investments nominated a director as appointee and the Company’s board of directors approved appointing the new director to the Company’s board. On February 28, 2023, the Company and G42 Investments amended the G42 Purchase Agreement and modified the G42 Promissory Note to accelerate the payment due under the note. Pursuant to the amendment, on February 28, 2023, the Company received $12.0 million, which reflected the original amount due under the G42 Promissory Note less a 3.75% discount, in full satisfaction of the note, resulting in a loss of $0.3 million and was recognized as a component of other income/(expense)in the Company’s Condensed Consolidated Statements of Operations.

G42 Investments has agreed to certain transfer restrictions (including restrictions on short sales or similar transactions) and restrictions on further acquisitions of shares, in each case subject to specified exceptions. Following the expiration of a lock up period, from the period May 31, 2022 until December 31, 2024 (or if earlier, the date of receipt of U.S. Food and Drug Administration (“FDA”) approval in the U.S. for TTP399 (the “FDA Approval”) of TTP399), the Company has granted to G42 Investments certain shelf and piggyback registration rights with respect to those shares of Class A common stock issued to G42 Investments pursuant to the G42 Purchase Agreement, including the ability to conduct an underwritten offering to resell such shares under certain circumstances. The registration rights include customary cooperation, cut-back, expense reimbursement, and indemnification provisions.

Contemporaneously with the G42 Purchase Agreement, effective on May 31, 2022, the Company entered into a collaboration and license agreement (the “Cogna Agreement”) with Cogna Technology Solutions LLC, an affiliate of G42 Investments (“Cogna”), which requires Cogna to work with the Company in performing clinical trials for the Company’s TTP399 compound (the “Licensed Product”) as well as jointly creating a global development plan to develop, market, and commercialize TTP399 in certain countries in the Middle East, Africa, and Central Asia (the “Partner Territory”). Under the terms of the Cogna Agreement, Cogna will obtain a license under certain intellectual property controlled by the Company to enable it to fulfill its obligations and exercise its rights under the Cogna agreement, including to develop and commercialize the Licensed Product in the Partner Territory, but will not have access to the various intellectual property (“IP”) related to the

license and TTP399. Specifically, the Company will share various protocols with Cogna related to conducting the clinical trials and will provide the patient dosages and placebo of TTP399 needed to conduct the trials.

Under the Cogna Agreement, Cogna has the right to develop and commercialize the Licensed Product in the Partner Territory at its own cost once restrictions on the use of the IP have been lifted by the Company. The Cogna Agreement determined which specific countries in the Partner Territory that Cogna may pursue development and commercialization and provides the Company with the ability to determine when Cogna can benefit from this IP through the powers granted to the Company to approve the global development plan. Further, the Company may supply at cost, or Cogna may manufacture, TTP399 for commercial sale under terms to be agreed upon by the parties at a later date.

Separately, the Company will conduct its clinical trials for TTP399 outside of the Partner Territory at its own cost. The results of each party’s clinical trials will be combined by the Company to seek FDA approval in the United States for TTP399. On December 21, 2022, G42 Healthcare Technology Solutions LLC (formerly known as Cogna Technology Solutions LLC) novated its rights and obligation under the Cogna agreement to G42 Healthcare Research Technology Projects LLC (“G42 Healthcare”), an affiliate of G42 Investments. As a result of the novation, all reference to Cogna herein shall be deemed to refer to G42 Healthcare.

The G42 Purchase Agreement also provides for, following the receipt of FDA approval of the Licensed Product, at the option of G42 Investments, either (a) the issuance of the Company’s Class A common stock (the “Milestone Shares”) having an aggregate value equal to $30.0 million or (b) the payment by the Company of $30.0 million in cash (the “Milestone Cash Payment”). The issuance of the Milestone Shares or the payment of the Milestone Cash Payment, as applicable, are conditioned upon receipt of the FDA Approval and subject to certain limitations and conditions set forth in the G42 Purchase Agreement. There can be no assurance that the FDA Approval will be granted or as to the timing thereof.

Once commercialization takes place in the Partner Territory, the Company will receive royalties in the single digits from Cogna on the net sales of the Licensed Product for a period of at least ten years after the first commercial sale of the Licensed Product in the Partner Territory.

Common stock is generally recorded at fair value at the date of issuance. In determining the fair value of the Class A common stock issued to G42 Investments, the Company considered the closing price of the common stock on the effective date. The Company did not make an adjustment to the fair value for sale restrictions on the stock in accordance with guidance recently adopted in ASU 2022-03. See the “Recently Issued Accounting Guidance” in this quarterly report on Form 10-Q for details of the ASU. Accordingly, the Company determined that cash consideration of $5.7 million should be recorded as fair value of the Class A common stock at the effective date, utilizing the Class A common stock closing price of $0.55 at the effective date.

A premium was paid on the Class A common stock by G42 Investments of $18.7 million, net of a note receivable discount of $0.6 million. This premium is determined to be the transaction price for all remaining obligations under the agreements, which will be accounted for under ASC 808 or ASC 606 based on determination of the unit of account.

The Company determined that certain commitments under the agreements are in the scope of ASC 808 as both the Company and Cogna are active participants in the clinical trials of the Licensed Product, and both are exposed to significant risks and rewards based on the success of the clinical trials and subsequent FDA approval. Cogna is determined to be a vendor of the Company during the clinical trial phase, working on the Company’s behalf to complete R&D activities, and not in a customer capacity. The Company accounted for the commitments related to the clinical trials, which includes transfer of trial protocols, supply of clinical trial dosages, and collaboration on the joint development committee (“JDC”) as an ASC 808 unit of account, applying the recognition and measurement principles of ASC 606 by analogy. The Company will recognize collaboration revenue for its development activities under ASC 808 over time based on the estimated period of performance.

By applying the principals in ASC 606 by analogy, the Company identified the performance obligation and considered the timing of satisfaction of the obligation to account for the pattern of revenue recognition. In order to recognize collaboration revenue, generally, the Company would begin satisfying its performance obligation and Cogna would need to be able to use and benefit from delivery of the assets or services. The performance obligation under the agreements that fall within the 808 unit of account are concentrated in the clinical trials. As of March 31, 2023, the clinical trials had not commenced. Accordingly, no collaboration revenue was recognized for the ASC 808 unit of account during the three months ended March 31, 2023.

The Company identified certain commitments that are in the scope of ASC 606 as Cogna’s relationship is that of a customer for these commitments. The significant performance obligations that are in the scope of ASC 606 are (1) the development, commercialization and manufacturing license of the IP once restrictions on the use of the IP have been lifted by the Company and (2) a potential material right to a commercial supply agreement. The Company will recognize revenue from

the development, commercial and manufacturing license at a point in time when the Company releases the restrictions on the use of the IP, which is expected to be after the Licensed Product is approved by the FDA. The Company will recognize revenue from the material right related to Cogna’s ability to purchase the commercial supply at cost as Cogna purchases the commercial supply from the Company, which will occur after the completion of the initial clinical trials (if Cogna decides to purchase the clinical supply from the Company). As a result, the Company has not recognized any revenue under the ASC 606 unit of account during the three months ended March 31, 2023.

On February 28, 2023, the Company and G42 Investments amended the G42 Purchase Agreement and modified the G42 Promissory Note to accelerate the payment due under the note. Pursuant to the amendment, on February 28, 2023, the Company received $12.0 million, which reflected the original amount due under the G42 Promissory Note less a 3.75% discount, in full satisfaction of the note, resulting in a loss of $0.3 million and was recognized as a component of other income/(expense)in the Company’s Condensed Consolidated Statements of Operations. The promissory note receivable was classified and accounted for under ASC 310 “Receivables“ (“ASC 310”) and was initially measured at its fair value of $11.9 million. The Company also recorded the $18.7 million as deferred revenue in the Condensed Consolidated Balance Sheets, as none of the underlying performance obligations had been satisfied as of and for the three months ended March 31, 2023.

Huadong License Agreement

The Company is party to a license agreement with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. (“Huadong”) (the “Huadong License Agreement”), under which Huadong obtained an exclusive and sublicensable license to develop and commercialize the Company’s glucagon-like peptide-1 receptor agonist (“GLP-1r”) program, including the compound TTP273, for therapeutic uses in humans or animals, in China and certain other pacific rim countries, including Australia and South Korea (collectively, the “Huadong License Territory”). Additionally, under the Huadong License Agreement, the Company obtained a non-exclusive, sublicensable, royalty-free license to develop and commercialize certain Huadong patent rights and know-how related to the Company’s GLP-1r program for therapeutic uses in humans or animals outside of the Huadong License Territory.

On January 14, 2021, the Company entered into the first amendment to the Huadong License Agreement ( the “First Huadong Amendment”) which eliminated the Company’s obligation to sponsor a multi-region clinical trial (the “Phase 2 MRCT”), and corresponding obligation to contribute up to $3.0 million in support of such trial. The amendment also reduced the total potential development and regulatory milestone payments by $3.0 million.

Prior to the First Amendment, the Company had allocated a portion of the transaction price to the obligation to sponsor and conduct a portion of the Phase 2 MRCT. Upon the removal of this performance obligation, the Company evaluated the impact of the modification under the provisions of ASC 606 and performed a reallocation of the transaction price among the remaining performance obligations. This resulted in the recognition of approximately $2.0 million of revenue on a cumulative catch-up basis during the three months ended March 31, 2022. The majority of the transaction price originally allocated to the Phase 2 MRCT performance obligation was reallocated to the license and technology transfer services combined performance obligation discussed below, which had already been completed. The reallocation of the purchase price in connection with the First Huadong Amendment was made based on the relative estimated selling prices of the remaining performance obligations.

The significant performance obligations under the Huadong License Agreement, as amended, were determined to be (i) the exclusive license to develop and commercialize the Company’s GLP-1r program, (ii) technology transfer services related to the chemistry and manufacturing know-how for a defined period after the effective date, (iii) the Company’s obligation to participate on a joint development committee (the “JDC”), and (iv) other obligations considered to be de minimis in nature.

The Company has determined that the license and technology transfer services related to the chemistry and manufacturing know-how represent a combined performance obligation because they were not capable of being distinct on their own. The Company also determined that there was no discernible pattern in which the technology transfer services would be provided during the transfer service period. As such, the Company recognized the revenue related to this combined performance obligation using the straight-line method over the transfer service period. This combined performance obligation was considered complete as of March 31, 2022. The Company recognized $2.0 million of revenue related to this combined performance obligation during the three months ended March 31, 2022. No revenue related to this combined performance obligation was recognized during the three months ended March 31, 2023.

A portion of the transaction price allocated to the obligation to participate in the JDC to oversee the development of products and the Phase 2 MRCT in accordance with the development plan remained deferred as of March 31, 2023, and revenue will be recognized using the proportional performance model over the period of the Company’s participation on the JDC. The unrecognized amount of the transaction price allocated to this performance obligation as of March 31, 2023, was de

minimis. No revenue for this performance obligation has been recognized during three months ended March 31, 2023 and 2022.

Contract Liabilities

Contract liabilities related to the Company’s collaboration agreements consisted of the following (in thousands):


	March 31, 2023		December 31, 2022
Current portion of contract liabilities	$	17	$	17
Contract liabilities, net of current portion	18,669		18,669
Total contract liabilities	$	18,686	$	18,686

Changes in short-term and long-term contract liabilities for the three months ended March 31, 2023, were as follows:


	Contract Liabilities
Balance on January 1, 2023	$	18,686
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	—

Balance on March 31, 2023	$	18,686

Net Loss per Share - Reconciliation of the Numerator and Denominator Used in the Calculation of Basic and Diluted Net Loss per Share of Class A Common Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Numerator:
Net loss	$ (5,774)	$ (9,424)
Less: Net loss attributable to noncontrolling interests	(1,275)	(2,417)
Net loss attributable to common shareholders of vTv Therapeutics Inc., diluted	(4,499)	(7,007)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic	$ (4,499)	$ (7,007)
Class A Common Stock
Denominator:
Weighted-average number of vTv Therapeutics Inc. Class A Common Stock, basic (in shares)	81,483,600	66,942,777
Weighted-average number of vTv Therapeutics Inc. Class A Common Stock, diluted (in shares)	81,483,600	66,942,777
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic (in usd per share)	$ (0.06)	$ (0.10)
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, diluted (in usd per share)	$ (0.06)	$ (0.10)

Net Loss per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Net Loss per Share

Basic loss per share is computed by dividing net loss attributable to vTv Therapeutics Inc. by the weighted average number of shares of Class A common stock outstanding during the period. Diluted loss per share is computed giving effect to all potentially dilutive shares. Diluted loss per share for all periods presented is the same as basic loss per share as the inclusion of potentially issuable shares would be antidilutive.


	For the Three Months Ended March 31,
	2023		2022
Numerator:
Net loss	$	(5,774)	$	(9,424)
Less: Net loss attributable to noncontrolling interests	(1,275)		(2,417)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic and diluted	(4,499)		(7,007)
Denominator:
Weighted average vTv Therapeutics Inc. Class A common stock, basic and diluted	81,483,600		66,942,777
Net loss per share of vTv Therapeutics Inc. Class A common stock, basic and diluted	$	(0.06)	$	(0.10)

Potentially dilutive securities not included in the calculation of dilutive net loss per share are as follows:


	March 31, 2023	March 31, 2022
Class B common stock (1)	23,093,860	23,093,860
Common stock options granted under the Plan	9,095,439	5,722,342
Common stock warrants	3,214,503	2,014,503
Total	35,403,802	30,830,705

___________________________


			(1)			Shares of Class B common stock do not share in the Company’s earnings and are not participating securities. Accordingly, separate presentation of loss per share of Class B common stock under the two-class method has not been provided. Each share of Class B common stock (together with a corresponding vTv Unit) is exchangeable for one share of Class A common stock.

Share-Based Compensation - Summary of Compensation Expense Related to Grants of Stock Options (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 343	$ 476
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	98	92
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 245	$ 384

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Schedule of Maturities of Lease Liabilities for Operating Leases

Maturities of lease liabilities for the Company’s operating leases as of March 31, 2023, were as follows (in thousands):


2023 (remaining nine months)	$	145
2024	194
2025	177
2026	—
2027	—
Thereafter	—
Total lease payments	516
Less: imputed interest	(62)
Present value of lease liabilities	$	454

Redeemable Noncontrolling Interest - Summary of Net Income Attributable to Vtv Therapeutics Inc (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Net loss attributable to vTv Therapeutics Inc. common shareholders	$ (4,499)	$ (7,007)
Decrease in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances	1,345	2,432
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$ (3,154)	$ (4,575)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details