0001564590-21-024121 | 10-Q | XBRL Viewer

Collaboration Agreements (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021		December 31, 2020
Current portion of contract liabilities	$	35	$	31
Contract liabilities, net of current portion		18		1,009
Total contract liabilities	$	53	$	1,040

Related-Party Transactions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021 shares
Class A Common Stock [Member] \| Exchange of Redeemable Non controlling Interest To Class A Common Stock [Member]
Related Party Transaction [Line Items]
Stock conversion ratio	1.00
MacAndrews & Forbes Incorporated [Member]
Related Party Transaction [Line Items]
Ownership percentage of majority owner	74.00%
Amount of cash savings percentage	85.00%
Description of 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.
MacAndrews & Forbes Incorporated [Member] \| Class B Common Stock [Member]
Related Party Transaction [Line Items]
Shares held by related party	23,084,267
MacAndrews & Forbes Incorporated [Member] \| Class A Common Stock [Member]
Related Party Transaction [Line Items]
Shares held by related party	36,606,212
MacAndrews & Forbes Incorporated [Member] \| Class A Common Stock [Member] \| Exchange of Redeemable Non controlling Interest To Class A Common Stock [Member]
Related Party Transaction [Line Items]
Stock conversion ratio	1.00

Leases - Schedule of Maturities of Lease Liabilities for Operating Leases (Detail) $ in Thousands	Mar. 31, 2021 USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2021 (remaining nine months)	$ 192
2022	261
2023	268
2024	275
2025	23
Total lease payments	1,019
Less: imputed interest	(224)
Present value of lease liabilities	$ 795

Subsequent Events

3 Months Ended

Mar. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

Note 15:

Subsequent Events

Subsequent to March 31, 2021, the Company has issued an additional 441,726 shares of Class A common stock under the LPC Purchase Agreement for total gross proceeds of approximately $1.0 million.

Fair Value of Financial Instruments - Assumptions Used to Calculate Fair Value of Warrants (Detail) - Letter Agreement Warrants [Member]	Mar. 31, 2021	Dec. 31, 2020
Minimum [Member] \| Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	124.11	120.53
Minimum [Member] \| Risk-Free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.55	0.26
Maximum [Member] \| Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	148.12	142.07
Maximum [Member] \| Risk-Free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	1.10	0.50
Weighted Average [Member] \| Expected Volatility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	132.12	128.16
Weighted Average [Member] \| Risk-Free Interest Rate [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Inputs utilized in the valuation of warrants	0.87	0.39

Share-Based Compensation - Summary of Compensation Expense Related to Grants of Stock Options (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 436	$ 380
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	176	133
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 260	$ 247

Related-Party Transactions

3 Months Ended

Mar. 31, 2021

Related-Party Transactions

Note 11:

Related-Party Transactions

MacAndrews & Forbes Incorporated

As of March 31, 2021, subsidiaries and affiliates of MacAndrews & Forbes Incorporated (collectively “MacAndrews”) indirectly controlled 23,084,267 shares of the Company’s Class B Common Stock and 36,606,212 shares of the Company’s Class A Common Stock. As a result, MacAndrews’ holdings represent approximately 74.0% 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 has entered into the Letter Agreements with MacAndrews. Under the terms of the Letter Agreements, the Company has the right to sell to MacAndrews shares of its Class A Common Stock at a specified price per share, and MacAndrews has 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. 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.

Certain terms of the December 23, 2019 Letter Agreement are set forth in the table below:

	December 23, 2019 Letter Agreement
Aggregate dollar value to be sold under agreement	$10.0 million
Specified purchase price per share	$	1.60
Expiration date of letter agreement	December 23, 2020
Shares available to be issued under related warrants		365,472
Exercise price of related warrants	$	1.84
Expiration date of related warrants	December 23, 2026
Total shares issued as of March 31, 2021		6,250,000
Remaining shares to be issued as of March 31, 2021		—

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

The Company and MacAndrews are party to an exchange agreement (the “Exchange Agreement”) pursuant to which 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 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. 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 of vTv Therapeutics Inc. (the “Board of Directors”). As of March 31, 2021, 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, 2021.

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.

Share-Based Compensation - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2021 USD ($)
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
Aggregate intrinsic value of the in-the-money	$ 2.0
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested share-based compensation arrangements for outstanding stock option awards	$ 3.3
Weighted average period to recognize unrecognized share-based compensation cost	2 years 4 months 24 days

Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Note 8:

Leases

The Company leases 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. Further, this lease does not include any material residual value guarantee or restrictive covenants.

At each of March 31, 2021 and December 31, 2020, the weighted average incremental borrowing rate for the operating leases held by the Company was 13.1%. At March 31, 2021 and December 31, 2020, the weighted average remaining lease terms for the operating leases held by the Company were 3.8 years and 4.1 years, respectively.

Maturities of lease liabilities for the Company’s operating leases as of March 31, 2021 were as follows (in thousands):

2021 (remaining nine months)	$	192
2022		261
2023		268
2024		275
2025		23
Thereafter		—
Total lease payments		1,019
Less: imputed interest		(224	)
Present value of lease liabilities	$	795

Operating lease cost and the related operating cash flows for the three months ended March 31, 2021 and 2020 were immaterial amounts.

Net Loss per Share (Tables)

3 Months Ended

Mar. 31, 2021

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 (in thousands, except share and per share amounts):

	For the Three Months Ended March 31,
	2021			2020
Numerator:
Net loss	$	(5,942	)	$	(7,165	)
Less: Net loss attributable to noncontrolling interests		(1,701	)		(2,441	)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic and diluted		(4,241	)		(4,724	)
Denominator:
Weighted-average vTv Therapeutics Inc. Class A Common Stock, basic and diluted		56,472,535			43,462,551
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic and diluted	$	(0.08	)	$	(0.11	)

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

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

	March 31, 2021		March 31, 2020
Class B Common Stock ⁽¹⁾		23,093,860		23,094,221
Common stock options granted under the Plan		4,404,403		2,531,143
Common stock options granted under Letter Agreements		—		2,500,000
Common stock warrants		2,014,503		2,014,503
Total		29,512,766		30,139,867

(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.

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended
	Jan. 14, 2021	Nov. 24, 2020	Apr. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Class Of Stock [Line Items]
Proceeds from issuance of Class A Common Stock, net of offering costs				$ 8,038
Class A Common Stock [Member]
Class Of Stock [Line Items]
Common stock par value				$ 0.01		$ 0.01
Cantor Fitzgerald [Member] \| ATM Offering [Member] \| Class A Common Stock [Member]
Class Of Stock [Line Items]
Common stock par value			$ 0.01
Aggregate offering price	$ 5,500
Shares sold				0	0
Cantor Fitzgerald [Member] \| ATM Offering [Member] \| Class A Common Stock [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Aggregate offering price			$ 13,000
LPC Purchase Agreement [Member] \| Class A Common Stock [Member]
Class Of Stock [Line Items]
Stock Issued During Period Shares New Issues				3,500,000
Proceeds from issuance of Class A Common Stock, net of offering costs		$ 8,000
LPC Purchase Agreement [Member] \| Class A Common Stock [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Aggregate offering price		$ 47,000

Investments

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Investments

Note 5:

Investments

In connection with the Reneo and Anteris License Agreements, the Company has received equity interests representing a minority equity interest in each investee. In each case, the Company’s investment is measured at cost less impairment, adjusted for any changes in observable prices, because the Company owns less than 20% of the voting equity and does not have the ability to exercise significant influence over the investees. The investments were initially recognized at fair value and are classified as long-term investments in the Company’s Consolidated Balance Sheets.

As of December 31, 2020, the Company’s equity investments without readily determinable fair values assessed under the measurement alternative consist of the following:

	March 31, 2021		December 31, 2020
Reneo common stock	$	2,480	$	2,480
Anteris preferred stock		4,245		4,245
Total	$	6,725	$	6,725

No adjustments have been made to the value of the Company’s investment in either Reneo or Anteris since their initial measurement either due to impairment or based on observable price changes.

Description of Business, Basis of Presentation and Going Concern - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Accumulated deficit	$ (274,730)	$ (290,036)
Cash and cash equivalents	$ 8,449	$ 5,747
Class A Common Stock [Member] \| LPC Purchase Agreement [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common Stock, Capital Shares Reserved for Future Issuance	441,726
Cantor Fitzgerald [Member] \| Class A Common Stock [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Remaining available stock value	$ 5,500
vTv Therapeutics LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of non-voting economic interest of vTv Therapeutics Holdings LLC in vTv LLC	28.60%
Percentage of non-voting economic interest of vTv Therapeutics Inc in vTv LLC	71.40%

Collaboration Agreements - Summary of Contract Liabilities Related to Company's Collaboration Agreements (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deferred Revenue Disclosure [Abstract]
Current portion of contract liabilities	$ 35	$ 31
Contract liabilities, net of current portion	18	1,009
Total contract liabilities	$ 53	$ 1,040

Redeemable Noncontrolling Interest (Tables)

3 Months Ended

Mar. 31, 2021

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,
	2021			2020
Net loss attributable to vTv Therapeutics Inc. common shareholders	$	(4,241	)	$	(4,724	)
Increase in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances		(2,410	)		(2,423	)
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$	(6,651	)	$	(7,147	)

Share-Based Compensation

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

Note 4:

Share-Based Compensation

The Company has issued non-qualified stock option awards to certain employees of the Company. These option awards 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, 2021, the Company had total unrecognized stock-based compensation expense for its outstanding stock option awards of approximately $3.3 million, which is expected to be recognized over a weighted average period of 2.4 years. There were no options granted during the three months ended March 31, 2021 and 2020. The aggregate intrinsic value of the in-the-money awards outstanding at March 31, 2021 was $2.0 million.

The following table summarizes the activity related to the stock option awards for the three months ended March 31, 2021:

	Number of Shares			Weighted- Average Exercise Price
Awards outstanding at December 31, 2020		4,453,357		$	4.41
Exercised		(20,833	)		2.24
Forfeited		(28,121	)		15.00
Awards outstanding at March 31, 2021		4,404,403		$	4.35
Options exercisable at March 31, 2021		2,135,504		$	6.74
Weighted average remaining contractual term	6.1 Years
Options vested and expected to vest at March 31, 2021		4,157,649		$	4.49
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,
	2021		2020
Research and development	$	176	$	133
General and administrative		260		247
Total share-based compensation expense	$	436	$	380

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2021
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, 2021, Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020, Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Stockholders’ Deficit for the three months ended March 31, 2021 and 2020 and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2021 and 2020 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, 2020 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, 2021, the results of operations for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020. The December 31, 2020 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, 2021 and 2020 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 the Class B Common Stock, the useful lives of property and equipment, the fair value of derivative liabilities, 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 multiple financial institutions. The balances of these cash accounts frequently exceed insured limits. One and two customers represented 100% of the revenue earned during the three months ended March 31, 2021 and March 31, 2020, respectively.
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 The Company holds equity investments without readily determinable market values. The Company has elected to measure these investments 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 Topic 606, “Revenue From Contracts With Customers” (“ASC Topic 606”). 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 discernable pattern over which the services will be provided.
Research and Development	Research and Development Major components of research and development costs include cash and share-based compensation, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, regulatory and compliance costs, fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf, facilities costs, and overhead costs. 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 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 There have been no recently accounting pronouncements which are expected to have a material impact on the Company’s 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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=84158767&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Investments - Additional Information (Detail)	Mar. 31, 2021
Investments Debt And Equity Securities [Abstract]
Equity method investments, ownership percentage	20.00%

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 8,449	$ 5,747
Accounts receivable, net	2	158
Prepaid expenses and other current assets	710	939
Current deposits	60	371
Total current assets	9,221	7,215
Property and equipment, net	344	367
Operating lease right-of-use assets	464	482
Long-term investments	6,725	6,725
Total assets	16,754	14,789
Current liabilities:
Accounts payable and accrued expenses	4,965	6,120
Current portion of operating lease liabilities	162	155
Current portion of contract liabilities	35	31
Current portion of notes payable		84
Total current liabilities	5,162	6,390
Contract liabilities, net of current portion	18	1,009
Operating lease liabilities, net of current portion	633	676
Warrant liability, related party	4,519	2,871
Other liabilities	50	50
Total liabilities	10,382	10,996
Commitments and contingencies
Redeemable noncontrolling interest	62,647	83,895
Stockholders’ deficit:
Additional paid-in capital	217,647	209,161
Accumulated deficit	(274,730)	(290,036)
Total stockholders’ deficit attributable to vTv Therapeutics Inc.	(56,275)	(80,102)
Total liabilities, redeemable noncontrolling interest and stockholders’ deficit	16,754	14,789
Class A Common Stock [Member]
Stockholders’ deficit:
Common stock value	576	541
Total stockholders’ deficit attributable to vTv Therapeutics Inc.	576	541
Class B Common Stock [Member]
Stockholders’ deficit:
Common stock value	232	232
Total stockholders’ deficit attributable to vTv Therapeutics Inc.	$ 232	$ 232

Investments - Schedule of Equity Investments without Readily Determinable Fair Values Assessed (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 6,725	$ 6,725
Reneo [Member] \| Common Stock [Member]
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	2,480	2,480
Anteris Bio, Inc. [Member] \| Preferred Stock [Member]
Equity Securities Without Readily Determinable Fair Value [Line Items]
Equity Securities without Readily Determinable Fair Value, Amount	$ 4,245	$ 4,245

Collaboration Agreements - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 31, 2017	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jan. 14, 2021
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Adjustments to transaction price for performance obligations		$ 0	$ 0
Research and development		3,103,000	4,204,000
Collaborative Arrangements [Member] \| Phase 2 MRCT [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Maximum contribution amount to clinical trial		3,000,000
Collaborative Arrangements [Member] \| Reneo [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration revenue recognized		0	0
Collaborative Arrangements [Member] \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Adjustments to transaction price for performance obligations		0
Collaborative Arrangements [Member] \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. [Member] \| Phase 2 MRCT [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Maximum contribution amount to clinical trial					$ 3,000,000
Unrecognized amount of transaction price allocated to performance obligation		1,000,000
Collaborative Arrangements [Member] \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. [Member] \| Phase 2 MRCT [Member] \| License and Technology Transfer Services of Chemistry and Manufacturing Know-How [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration revenue recognized			$ 0
Adjustments to transaction price for performance obligations		1,000,000
Collaborative Arrangements [Member] \| Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. [Member] \| Joint Development Committee [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Unrecognized amount of transaction price allocated to performance obligation		100,000
Collaborative Arrangements [Member] \| Newsoara Biopharma Co Ltd [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized from change in estimated transaction prices		0
Collaborative Arrangements [Member] \| Newsoara Biopharma Co Ltd [Member] \| License And Technology Transfer Services [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Collaboration revenue recognized		0
Collaborative Arrangements [Member] \| Anteris Bio, Inc. [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License fee received				$ 2,000,000
Potential development and regulatory milestone payments				151,000,000
Collaborative Arrangements [Member] \| Anteris Bio, Inc. [Member] \| License and Technology Transfer Services of Chemistry and Manufacturing Know-How [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License fee received				2,000,000
Equity interest received				$ 4,200,000
Collaborative Arrangements [Member] \| JDRF [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Maximum research funding receivable achievement based on research and development milestones	$ 3,000,000
Maximum funding percentage of research and development milestones	50.00%
Funding received		3,000,000
Research and development		$ 3,000,000

Fair Value of Financial Instruments - Summary of Conclusions Reached Regarding Fair Value Measurements (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Significant Unobservable Inputs (Level 3) [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Balance at January 1	$ 2,871	$ 2,601
Net Change in fair value included in earnings	1,648	363
Balance at March 31,	4,519	2,964
Significant Unobservable Inputs (Level 3) [Member] \| Warrant Liability, Related Party [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Balance at January 1	2,871	2,601
Net Change in fair value included in earnings	1,648	363
Balance at March 31,	4,519	$ 2,964
Fair Value, Measurements, Recurring [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	4,519		$ 2,871
Fair Value, Measurements, Recurring [Member] \| Warrant Liability, Related Party [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	4,519		2,871
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	4,519		2,871
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Warrant Liability, Related Party [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Total	$ 4,519		$ 2,871

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Class A Common Stock [Member] $ in Millions	Apr. 01, 2021 USD ($) shares
Subsequent Event [Line Items]
Stock Issued During Period Shares New Issues \| shares	441,726
Gross proceeds from issuance of common stock \| $	$ 1.0

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 14:

Fair Value of Financial Instruments

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

The fair value of the Company’s Loan Agreement is considered to approximate its carrying value because it bears interest at a variable interest rate.

The Company measures the value of its equity investments 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 three months ended March 31, 2021 and 2020, there were no observable price changes in identical or similar investments, nor were there any indications of impairment. As such, the value of the Company’s equity investments was not remeasured.

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 following table summarizes the conclusions reached regarding fair value measurements as of March 31, 2021 and December 31, 2020 (in thousands):

Balance at March 31, 2021

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Warrant liability, related party ⁽¹⁾

4,519

—

4,519

Total

4,519

—

4,519

Balance at December 31, 2020

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Warrant liability, related party ⁽¹⁾

2,871

—

2,871

Total

2,871

—

2,871

(1)

Fair value determined using the Black-Scholes option pricing model. Expected volatility is based on historical volatility of its own stock as well as a portfolio of selected stocks of companies believed to have market and economic characteristics similar to its own. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the 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,
2021
Warrant liability, related party	$	2,871	$	1,648	$	—	$	—	$	4,519
Total	$	2,871	$	1,648	$	—	$	—	$	4,519

2020
Warrant liability, related party	$	2,601	$	363	$	—	$	—	$	2,964
Total	$	2,601	$	363	$	—	$	—	$	2,964

During the three months ended March 31, 2021 and 2020, the Company recognized a loss of $1.6 million and a loss of $0.4 million, respectively, related to the change in fair value of the Letter Agreement Warrants. These amounts were recognized as a component of other (expense) income – related party in the Condensed Consolidated Statements of Operations. Significant inputs utilized in the valuation of the Letter Agreement Warrants as of March 31, 2021 and December 31, 2020 were:

	March 31, 2021		December 31, 2020
	Range	Weighted Average	Range	Weighted Average
Expected volatility	124.11% - 148.12%	132.12%	120.53% - 142.07%	128.16%
Risk-free interest rate	0.55% - 1.10%	0.87%	0.26% - 0.50%	0.39%

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. 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 Statement of Changes in Redeemable Noncontrolling Interest and Stockholders' Deficit - (Unaudited) - USD ($) $ in Thousands	Total	Redeemable Noncontrolling Interest [Member]	Class A Common Stock [Member]	Class B Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2019	$ (49,023)		$ 409	$ 232	$ 183,858	$ (233,522)
Beginning balance, redeemable noncontrolling interest at Dec. 31, 2019		$ 40,183
Beginning balance, shares at Dec. 31, 2019			40,918,522	23,094,221
Net loss	(4,724)	(2,441)				(4,724)
Share-based compensation	380				380
Issuance of Class A Common Stock to a related party under the Letter Agreements	6,000		$ 38		5,962
Issuance of Class A Common Stock to a related party under the Letter Agreements, shares			3,750,000
Vesting of restricted stock units, shares			11,667
Change in redemption value of noncontrolling interest	(14,454)	14,454				(14,454)
Ending balance at Mar. 31, 2020	(61,821)		$ 447	$ 232	190,200	(252,700)
Ending balance, redeemable noncontrolling interest at Mar. 31, 2020		52,196
Ending balance, shares at Mar. 31, 2020			44,680,189	23,094,221
Beginning balance at Dec. 31, 2020	(80,102)		$ 541	$ 232	209,161	(290,036)
Beginning balance, redeemable noncontrolling interest at Dec. 31, 2020		83,895
Beginning balance, shares at Dec. 31, 2020			54,050,710	23,094,221
Net loss	(4,241)	(1,701)				(4,241)
Share-based compensation	436				436
Exchange of class B common stock, shares			361	(361)
Exercise of stock options	$ 47				47
Exercise of stock options, shares	20,833		20,833
Issuance of Class A Common Stock under LPC Agreement	$ 8,038		$ 35		8,003
Issuance of class A common stock under LPC agreement, shares			3,500,000
Change in redemption value of noncontrolling interest	19,547	(19,547)				19,547
Ending balance at Mar. 31, 2021	(56,275)		$ 576	$ 232	$ 217,647	$ (274,730)
Ending balance, redeemable noncontrolling interest at Mar. 31, 2021	$ 62,647	$ 62,647
Ending balance, shares at Mar. 31, 2021			57,571,904	23,093,860

Leases - Additional Information (Detail)	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Weighted average incremental borrowing rate	13.10%	13.10%
Remaining operating lease term	3 years 9 months 18 days	4 years 1 month 6 days

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Class A Common Stock [Member]
Common stock par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	57,571,904	54,050,710
Class B Common Stock [Member]
Common stock par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	23,093,860	23,094,221

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 05, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	VTVT
Entity Registrant Name	vTv Therapeutics Inc.
Entity Central Index Key	0001641489
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity File Number	001-37524
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-3916571
Entity Address, Address Line One	3980 Premier Dr, Suite 310
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Address, Postal Zip Code	27265
Entity Address, City or Town	High Point
Entity Address, State or Province	NC
Entity Small Business	true
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
City Area Code	336
Local Phone Number	841-0300
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		58,013,630
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		23,093,860

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, 2021	Mar. 31, 2020
Numerator:
Net loss	$ (5,942)	$ (7,165)
Less: Net loss attributable to noncontrolling interests	(1,701)	(2,441)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic and diluted	$ (4,241)	$ (4,724)
Class A Common Stock [Member]
Denominator:
Weighted-average vTv Therapeutics Inc. Class A Common Stock, basic and diluted	56,472,535	43,462,551
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic and diluted	$ (0.08)	$ (0.11)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 7:

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 we 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 Novo License Agreement, the Company has additional 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.

Huadong License Agreement

Under the terms of the Huadong License Agreement, prior to its amendment in January 2021, vTv LLC was obligated to act as the sponsor of the Phase 2 MRCT should Huadong require it to do so. The Phase 2 MRCT was to include sites in both US and the Huadong License Territory for the purpose of assessing the safety and efficacy of TTP273 in patients with type 2 diabetes and was to be designed to satisfy the requirements of the China Food and Drug Administration necessary in order for Huadong to begin a Phase 3 clinical trial in China. vTv LLC was responsible for contributing up to $3.0 million in connection with the Phase 2 MRCT. In connection with the First Huadong Amendment, discussed further in Note 3, the Company’s obligation to sponsor and contribute funding to the Phase 2 MRCT was eliminated from the Huadong License Agreement.

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 and December 31, 2020 (in thousands):

Balance at March 31, 2021

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Warrant liability, related party ⁽¹⁾

4,519

—

4,519

Total

4,519

—

4,519

Balance at December 31, 2020

Quoted Prices in Active Markets for Identical Assets

(Level 1)

Significant Other Observable Inputs

(Level 2)

Significant Unobservable Inputs

(Level 3)

Warrant liability, related party ⁽¹⁾

2,871

—

2,871

Total

2,871

—

2,871

(1)

	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,
2021
Warrant liability, related party	$	2,871	$	1,648	$	—	$	—	$	4,519
Total	$	2,871	$	1,648	$	—	$	—	$	4,519

2020
Warrant liability, related party	$	2,601	$	363	$	—	$	—	$	2,964
Total	$	2,601	$	363	$	—	$	—	$	2,964

Assumptions Used to Calculate Fair Value of Warrants

Significant inputs utilized in the valuation of the Letter Agreement Warrants as of March 31, 2021 and December 31, 2020 were:

	March 31, 2021		December 31, 2020
	Range	Weighted Average	Range	Weighted Average
Expected volatility	124.11% - 148.12%	132.12%	120.53% - 142.07%	128.16%
Risk-free interest rate	0.55% - 1.10%	0.87%	0.26% - 0.50%	0.39%

Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

Note 10:

Stockholders’ Equity

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, 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.

During the three months ended March 31, 2021 and 2020, 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 LPC Purchase Agreement. During the three months ended March 31, 2021, the Company sold 3,500,000 shares under the LPC Purchase Agreement for total proceeds of $8.0 million.

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, 2021

Mar. 31, 2020

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potentially dilutive securities not included in calculation of dilutive net loss per share

29,512,766

30,139,867

Class B Common Stock [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potentially dilutive securities not included in calculation of dilutive net loss per share

^[1]

23,093,860

23,094,221

Common Stock Options Granted Under the Plan [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potentially dilutive securities not included in calculation of dilutive net loss per share

4,404,403

2,531,143

Common Stock Options Granted Under Letter Agreements [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potentially dilutive securities not included in calculation of dilutive net loss per share

2,500,000

Common Stock Warrants [Member]

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Potentially dilutive securities not included in calculation of dilutive net loss per share

2,014,503

[1]

Leases (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021 were as follows (in thousands):

2021 (remaining nine months)	$	192
2022		261
2023		268
2024		275
2025		23
Thereafter		—
Total lease payments		1,019
Less: imputed interest		(224	)
Present value of lease liabilities	$	795

Net Loss per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Net Loss per Share

Note 13:

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,
	2021			2020
Numerator:
Net loss	$	(5,942	)	$	(7,165	)
Less: Net loss attributable to noncontrolling interests		(1,701	)		(2,441	)
Net loss attributable to common shareholders of vTv Therapeutics Inc., basic and diluted		(4,241	)		(4,724	)
Denominator:
Weighted-average vTv Therapeutics Inc. Class A Common Stock, basic and diluted		56,472,535			43,462,551
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic and diluted	$	(0.08	)	$	(0.11	)

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

	March 31, 2021		March 31, 2020
Class B Common Stock ⁽¹⁾		23,093,860		23,094,221
Common stock options granted under the Plan		4,404,403		2,531,143
Common stock options granted under Letter Agreements		—		2,500,000
Common stock warrants		2,014,503		2,014,503
Total		29,512,766		30,139,867

(1)

Investments (Tables)

3 Months Ended

Mar. 31, 2021

Investments Debt And Equity Securities [Abstract]

Schedule of Equity Investments without Readily Determinable Fair Values Assessed

As of December 31, 2020, the Company’s equity investments without readily determinable fair values assessed under the measurement alternative consist of the following:

	March 31, 2021		December 31, 2020
Reneo common stock	$	2,480	$	2,480
Anteris preferred stock		4,245		4,245
Total	$	6,725	$	6,725

Condensed Consolidated Statements of Operations - (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue	$ 987,000	$ 8,000
Operating expenses:
Research and development	3,103,000	4,204,000
General and administrative	2,164,000	2,450,000
Total operating expenses	5,267,000	6,654,000
Operating loss	(4,280,000)	(6,646,000)
Other (expense) income – related party	(1,648,000)	(363,000)
Interest income	1,000	12,000
Interest expense		(168,000)
Loss before income taxes and noncontrolling interest	(5,927,000)	(7,165,000)
Income tax provision	15,000	0
Net loss before noncontrolling interest	(5,942,000)	(7,165,000)
Less: net loss attributable to noncontrolling interest	(1,701,000)	(2,441,000)
Net loss attributable to vTv Therapeutics Inc.	(4,241,000)	(4,724,000)
Net loss attributable to vTv Therapeutics Inc. common shareholders	$ (4,241,000)	$ (4,724,000)
Class A Common Stock [Member]
Operating expenses:
Net loss per share of vTv Therapeutics Inc. Class A Common Stock, basic and diluted	$ (0.08)	$ (0.11)
Weighted-average number of vTv Therapeutics Inc. Class A Common Stock, basic and diluted	56,472,535	43,462,551

Description of Business, Basis of Presentation and Going Concern

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Description of Business, Basis of Presentation and Going Concern

Note 1:

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 focused on treating metabolic diseases to minimize their long-term complications through end-organ protection.

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. As of March 31, 2021, various holders own non-voting interests in vTv LLC, representing a 28.6% economic interest in vTv LLC, effectively restricting vTv Therapeutics Inc.’s interest to 71.4% 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 Class B Common Stock) for shares of Class A Common Stock (or cash) pursuant to the Exchange Agreement (as defined in Note 10). 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 and its registered direct offering in March 2019, 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, and its entrance 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 (the “Letter Agreements”), the Controlled Equity Offering^SM Sales Agreement (the “Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor Fitzgerald”) (the “ATM Offering”), and the purchase agreement with Lincoln Park Capital Fund, LLC (“Lincoln Park”) (the “LPC 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, 2021, 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, 2021, the Company had an accumulated deficit of $274.7 million and has generated net losses in each year of its existence.

As of March 31, 2021, the Company’s liquidity sources included cash and cash equivalents of $8.4 million and remaining availability of $5.5 million under our Controlled Equity Offering^SM 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”). See Note 10 for further details.

As of March 31, 2021, the Company also had the ability to sell an additional 441,726 shares of Class A Common Stock under the LPC Purchase Agreement based on the number of shares initially registered. The extent to which the Company utilizes the LPC Purchase Agreement as a source of funding will depend on a number of factors, including the prevailing market price of and the volume of trading in the Company’s Class A Common Stock and the extent to which the Company is able to secure funds from other sources. The number of shares that the Company may sell to Lincoln Park under the purchase agreement on any given day and during the term of the agreement is limited. Additionally, the Company and Lincoln Park may not effect any sales of shares of our Class A Common Stock under the LPC Purchase Agreement during the continuance of an event of default under the LPC Purchase Agreement.

Based on the Company’s current operating plan, management believes that its current cash and cash equivalents, the amounts raised under the LPC Purchase Agreement through May 5, 2021 and the remaining availability under the ATM Offering, will allow the Company to meet its liquidity requirements through the end of the third quarter, which is less than twelve months from the issuance of these Condensed Consolidated Financial Statements. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The Company is evaluating several financing strategies to provide continued funding which may include additional direct equity investments or future public offerings of our common stock. The timing and availability of such financing is not yet known and we cannot be certain that additional financing will be available on acceptable terms, or at all. Even if we are able to obtain additional debt or equity financing, it may contain restrictions on our operations or cause substantial dilution to our stockholders.

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.

Related-Party Transactions - Summary of Terms of Letter Agreements (Detail) - MacAndrews & Forbes Incorporated [Member] - 2019 Letter Agreement [Member] - Class A Common Stock [Member] $ / shares in Units, $ in Millions	Dec. 23, 2019 USD ($) $ / shares shares
Class Of Warrant Or Right [Line Items]
Aggregate dollar value to be sold under agreement \| $	$ 10.0
Specified purchase price per share \| $ / shares	$ 1.60
Expiration date of letter agreement	Dec. 23, 2020
Shares available to be issued under related warrants \| shares	365,472
Exercise price of related warrants \| $ / shares	$ 1.84
Expiration date of related warrants	Dec. 23, 2026
Total shares issued as of March 31, 2021 \| shares	6,250,000

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Mar. 31, 2021	Feb. 28, 2007
Developmental and Regulatory Milestone Payment [Member] \| Novo License Agreement [Member] \| Maximum [Member] \| Other Indication [Member]
Commitments And Contingencies [Line Items]
Potential milestone payment		$ 115,000,000
Developmental and Regulatory Milestone Payment [Member] \| Novo License Agreement [Member] \| Maximum [Member] \| Type 1 Diabetes [Member]
Commitments And Contingencies [Line Items]
Potential milestone payment		9,000,000
Developmental and Regulatory Milestone Payment [Member] \| Novo License Agreement [Member] \| Maximum [Member] \| Type 2 Diabetes [Member]
Commitments And Contingencies [Line Items]
Potential milestone payment		50,500,000
Sales-based Milestones Payment [Member] \| Novo License Agreement [Member]
Commitments And Contingencies [Line Items]
Potential milestone payment		$ 75,000,000
Phase 2 MRCT [Member] \| Collaborative Arrangements [Member]
Commitments And Contingencies [Line Items]
Maximum contribution amount to clinical trial	$ 3,000,000

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Letter Agreement Warrants [Member]
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items]
Change in fair value of agreement warrants loss (gain)	$ 1.6	$ (0.4)

Notes Payable

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Notes Payable

Note 6:

Notes Payable

In October 2016, the Company entered into the Loan Agreement with Horizon Technology Finance Corporation and Silicon Valley Bank, under which the Company and vTv LLC borrowed $20.0 million. On April 1, 2020, the Company entered into an amendment to the Loan Agreement (the “Second Amendment”) and on July 29, 2020, the Company entered into the Third Amendment to the Loan Agreement. These amendments extended the maturity dates of the loans and adjusted the minimum cash balance and, in certain instances, provided for interest only payments for certain periods. The Company fully repaid the amounts due under the Loan Agreement in December 2020 in accordance with the stated terms of the agreement as amended and the agreement was then terminated.

Each loan tranche bore interest at a floating rate equal to 10.5% plus the amount by which the one-month London Interbank Offer Rate (“LIBOR”) exceeds 0.5%.

The Company borrowed the first tranche of $12.5 million upon close of the Loan Agreement in October 2016. As amended, the first tranche required only monthly interest payments until May 1, 2018 followed by monthly payments of principal plus accrued interest through the amended maturity date on September 1, 2020. In addition, a final payment for the first tranche loan equal to $0.8 million was due on September 1, 2020, or such earlier date specified in the Loan Agreement, as amended. The Company borrowed the second tranche of $7.5 million in March 2017. The second tranche required only monthly interest payments until October 1, 2018 followed by monthly payments of principal plus accrued interest through the amended maturity date on January 1, 2021. In addition, a final payment for the second tranche loan equal to $0.8 million was due on January 1, 2021, or such earlier date specified in the Loan Agreement as amended.

The Second and Third Amendments were considered modifications to the existing agreement for accounting purposes. As such, the Company determined a new effective interest rate of 21.5% on the debt considering the remaining unamortized cost and the increases to the final payment for the second tranche as a result of these amendments. The related costs were amortized and the final payments for the first and second loan tranches were accrued as additional interest expense, using the effective interest method over the term of the Loan Agreement.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2:

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, 2021, Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020, Condensed Consolidated Statement of Changes in Redeemable Noncontrolling Interest and Stockholders’ Deficit for the three months ended March 31, 2021 and 2020 and Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2021 and 2020 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, 2020 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, 2021, the results of operations for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020. The December 31, 2020 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, 2021 and 2020 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 the Class B Common Stock, the useful lives of property and equipment, the fair value of derivative liabilities, 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 multiple financial institutions. The balances of these cash accounts frequently exceed insured limits.

One and two customers represented 100% of the revenue earned during the three months ended March 31, 2021 and March 31, 2020, respectively.

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

The Company holds equity investments without readily determinable market values. The Company has elected to measure these investments 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 Topic 606, “Revenue From Contracts With Customers” (“ASC Topic 606”).

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 discernable pattern over which the services will be provided.

Research and Development

Major components of research and development costs include cash and share-based compensation, costs of preclinical studies, clinical trials and related clinical manufacturing, costs of drug development, costs of materials and supplies, regulatory and compliance costs, fees paid to consultants and other entities that conduct certain research and development activities on the Company’s behalf, facilities costs, and overhead costs. 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 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

There have been no recently accounting pronouncements which are expected to have a material impact on the Company’s financial statements.

Redeemable Noncontrolling Interest

3 Months Ended

Mar. 31, 2021

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

Note 9:

Redeemable Noncontrolling Interest

The Company is subject to the Exchange Agreement with respect to the vTv Units representing the 28.6% noncontrolling interest in vTv LLC outstanding as of March 31, 2021 (see Note 10). 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, 2021 and December 31, 2020, the redeemable noncontrolling interest was recorded based on the redemption value as of the balance sheet date of $62.6 million and $83.9 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,
	2021			2020
Net loss attributable to vTv Therapeutics Inc. common shareholders	$	(4,241	)	$	(4,724	)
Increase in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances		(2,410	)		(2,423	)
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$	(6,651	)	$	(7,147	)

Collaboration Agreements

3 Months Ended

Mar. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Collaboration Agreements

Note 3:

Collaboration Agreements

Reneo License Agreement

The Company is party to a license agreement with Reneo Pharmaceuticals, Inc. (“Reneo”) (the “Reneo License Agreement”), under which Reneo obtained an exclusive, worldwide, sublicensable license to develop and commercialize the Company’s peroxisome proliferation activated receptor delta (PPAR-δ) agonist program, including the compound HPP593, for therapeutic, prophylactic or diagnostic application in humans.

The Company has fully allocated the transaction price to the license and the technology transfer services, which represents a single combined performance obligation because they were not capable of being distinct on their own. The revenue related to this performance obligation was recognized on a straight-line basis over the technology transfer service period.

The revenue related to this performance obligation has been fully recognized and no revenue related to this performance obligation was recognized for the three months ended March 31, 2021 and 2020. There have been no adjustments to the transaction price for the performance obligations under the Reneo License Agreement during the three months ended March 31, 2021 and 2020.

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 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 Topic 606 and performed a reallocation of the transaction price among the remaining performance obligations. This resulted in the recognition of approximately $1.0 million of revenue on a cumulative catch up basis. 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 this 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 discernable 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. The revenue related to this combined performance obligation has been fully recognized as of March 31, 2021. In connection with the First Huadong Amendment, the Company recognized approximately $1.0 million of revenue related to this performance obligation during the three months ended March 31, 2021 due to the reallocation of the transaction price among the performance obligations remaining after the First Huadong Amendment. No revenue related to this combined performance obligation was recognized during the three months ended March 31, 2020.

The portion of the transaction price allocated to the obligation to participate in the joint development committee (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, 2021 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, 2021 was $0.1 million. An immaterial amount of revenue for this performance obligation has been recognized during the three months ended March 31, 2021.

There have been no adjustments to the transaction price for the performance obligations under the Huadong License Agreement during the three months ended March 31, 2021 other than the reallocation of the original transaction price among the performance obligations in connection with the First Huadong Amendment as discussed above.

Newsoara License Agreement

The Company is party to a license agreement with Newsoara Biopharma Co., Ltd., (“Newsoara”) (the “Newsoara License Agreement”) under which Newsoara obtained an exclusive and sublicensable license to develop and commercialize the Company’s phosphodiesterase type 4 inhibitors (“PDE4”) program, including the compound HPP737, in China, Hong Kong, Macau, Taiwan and other pacific rim countries (collectively, the “Newsoara License Territory”). Additionally, under the Newsoara License Agreement, the Company obtained a non-exclusive, sublicensable, royalty-free license to develop and commercialize certain Newsoara patent rights and know-how related to the Company’s PDE4 program for therapeutic uses in humans outside of the Newsoara License Territory.

The Company has fully allocated the transaction price to the license and the technology transfer services which represents a single performance obligation because they were not capable of being distinct on their own. The Company recognized revenue for this performance obligation using the straight-line method over the transfer service period. The revenue for this performance obligation has been fully recognized as of March 31, 2021. No revenue related to this performance obligation was recognized and there have been no changes to the transaction price during the three months ended March 31, 2021.

Anteris License Agreement

On December 11, 2020, we entered into a license agreement with Anteris Bio, Inc. (“Anteris”) (the “Anteris License Agreement”), under which Anteris obtained a worldwide, exclusive and sublicensable license to develop and commercialize the Company’s Nrf2 activator, HPP971.

Under the terms of the Anteris License Agreement, Anteris paid the Company an initial license fee of $2.0 million. The Company is eligible to receive additional potential development, regulatory, and sales-based milestone payments totaling up to $151.0 million. Anteris is also obligated to pay vTv royalty payments at a double-digit rate based on annual net sales of licensed products. Such royalties will be payable on a licensed product-by-licensed product basis until the latest of expiration of the licensed patents covering a licensed product in a country, expiration of data exclusivity rights for a licensed product in a country, or a specified number of years after the first commercial sale of a licensed product in a country. As additional consideration, the Company received preferred stock representing a minority ownership interest in Anteris.

Pursuant to the terms of the Anteris License Agreement, the Company was required to provide technology transfer services for a 30 day period after the effective date. In accordance with ASC Topic 606, the Company identified all of the performance obligations at the inception of the Anteris License Agreement. The significant obligations were determined to be the license and the technology transfer services. The Company has determined that the license and technology transfer services represent a single performance obligation because they were not capable of being distinct on their own. The transaction price has been fully allocated to this combined performance obligation. As of December 31, 2020, the transaction price consisted of the $2.0 million initial license payment as well as the fair value of the equity interest received in Anteris of $4.2 million. The remaining milestone payments that the Company is eligible to receive were not included in the transaction price as of December 31, 2020, as it was not considered probable that such payments will be received. The revenue related to this performance obligation was fully recognized as of December 31, 2020 as the technology transfer services were considered complete. No revenue related to this performance obligation was recognized and there have been no changes to the transaction price during the three months ended March 31, 2021 and 2020

JDRF Agreement

In August 2017, the Company entered into a research and collaboration agreement with JDRF International (the “JDRF Agreement”) to support the funding of the Simplici-T1 Study, a Phase 2 study to explore the effects of TTP399 in patients with type 1 diabetes. According to the terms of the JDRF Agreement, JDRF will provide research funding of up to $3.0 million based on the achievement of research and development milestones, with the total funding provided by JDRF not to exceed approximately one-half of the total cost of the project. Additionally, the Company has the obligation to make certain milestone payments to JDRF upon the commercialization, licensing, sale or transfer of TTP399 as a treatment for type 1 diabetes.

Payments that the Company receives from JDRF under this agreement will be recorded as restricted cash and current liabilities and recognized as an offset to research and development expense, based on the progress of the project, and only to the extent that the restricted cash is utilized to fund such development activities. As of March 31, 2021, the Company had received funding under this agreement of $3.0 million. Research and development costs have been offset by a total of $3.0 million over the course of this agreement.

Contract Liabilities

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

	March 31, 2021		December 31, 2020
Current portion of contract liabilities	$	35	$	31
Contract liabilities, net of current portion		18		1,009
Total contract liabilities	$	53	$	1,040

The change in the Company’s contract liabilities for the three months ended March 31, 2021 was due to the recognition of amounts included in the contract liability at the beginning of the period caused by the reallocation of the transaction price in connection with the First Huadong Amendment discussed above.

Notes Payable - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2017	Oct. 31, 2016	Mar. 31, 2021
Debt Instrument [Line Items]
Effective Interest Rate On The Debt			21.50%
Loan and Security Agreement [Member] \| LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate floor		0.50%
Loan and Security Agreement [Member] \| Horizon Technology Finance Corporation and Silicon Valley Bank [Member]
Debt Instrument [Line Items]
Loan borrowed amount		$ 20.0
Debt instrument, interest rate floor		10.50%
Variable rate basis			one-month LIBOR
Interest rate description			Each loan tranche bore interest at a floating rate equal to 10.5% plus the amount by which the one-month London Interbank Offer Rate (“LIBOR”) exceeds 0.5%.
Loan and Security Agreement [Member] \| Horizon Technology Finance Corporation and Silicon Valley Bank [Member] \| Tranche One [Member]
Debt Instrument [Line Items]
Loan borrowed amount		$ 12.5
Debt instrument, payment terms			The Company borrowed the first tranche of $12.5 million upon close of the Loan Agreement in October 2016. As amended, the first tranche required only monthly interest payments until May 1, 2018 followed by monthly payments of principal plus accrued interest through the amended maturity date on September 1, 2020.
Debt instrument, final payment		$ 0.8
Debt instrument, maturity date		Sep. 01, 2020
Debt instrument, frequency of periodic Payment			monthly
Loan and Security Agreement [Member] \| Horizon Technology Finance Corporation and Silicon Valley Bank [Member] \| Tranche Two [Member]
Debt Instrument [Line Items]
Loan borrowed amount	$ 7.5
Debt instrument, payment terms			The Company borrowed the second tranche of $7.5 million in March 2017. The second tranche required only monthly interest payments until October 1, 2018 followed by monthly payments of principal plus accrued interest through the amended maturity date on January 1, 2021.
Debt instrument, final payment		$ 0.8
Debt instrument, maturity date		Jan. 01, 2021
Debt instrument, frequency of periodic Payment			monthly

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Taxes [Line Items]
Income tax provision	$ 15,000	$ 0
US statutory corporate income tax rate	21.00%
M&F TTP Holdings LLC [Member]
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

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss before noncontrolling interest	$ (5,942)	$ (7,165)
Adjustments to reconcile net loss before noncontrolling interest to net cash used in operating activities:
Depreciation expense	23	27
Share-based compensation expense	436	380
Change in fair value of warrants, related party	1,648	363
Amortization of debt discount		47
Changes in assets and liabilities:
Accounts receivable	156
Prepaid expenses and other assets	540	465
Accounts payable and accrued expenses	(1,173)	331
Contract liabilities	(987)	(8)
Net cash used in operating activities	(5,299)	(5,560)
Cash flows from financing activities:
Proceeds from issuance of Class A Common Stock to a related party under the Letter Agreements		6,000
Proceeds from issuance of Class A Common Stock, net of offering costs	8,038
Proceeds from exercise of stock options	47
Repayment of notes payable	(84)	(1,811)
Net cash provided by financing activities	8,001	4,189
Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	2,702	(1,371)
Total cash, cash equivalents and restricted cash and cash equivalents, beginning of period	5,747	4,277
Total cash, cash equivalents and restricted cash and cash equivalents, end of period	8,449	2,906
Non-cash activities:
Change in redemption value of noncontrolling interest	19,547	(14,454)
Redeemable Noncontrolling Interest [Member]
Non-cash activities:
Change in redemption value of noncontrolling interest	$ (19,547)	$ 14,454

Related-Party Transactions (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Terms of Letter Agreements

Certain terms of the December 23, 2019 Letter Agreement are set forth in the table below:

	December 23, 2019 Letter Agreement
Aggregate dollar value to be sold under agreement	$10.0 million
Specified purchase price per share	$	1.60
Expiration date of letter agreement	December 23, 2020
Shares available to be issued under related warrants		365,472
Exercise price of related warrants	$	1.84
Expiration date of related warrants	December 23, 2026
Total shares issued as of March 31, 2021		6,250,000
Remaining shares to be issued as of March 31, 2021		—

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [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, 2021:

	Number of Shares			Weighted- Average Exercise Price
Awards outstanding at December 31, 2020		4,453,357		$	4.41
Exercised		(20,833	)		2.24
Forfeited		(28,121	)		15.00
Awards outstanding at March 31, 2021		4,404,403		$	4.35
Options exercisable at March 31, 2021		2,135,504		$	6.74
Weighted average remaining contractual term	6.1 Years
Options vested and expected to vest at March 31, 2021		4,157,649		$	4.49
Weighted average remaining contractual term	7.7 Years

Summary of Compensation Expense Related to Grants of Stock Options and RSUs

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,
	2021		2020
Research and development	$	176	$	133
General and administrative		260		247
Total share-based compensation expense	$	436	$	380

Redeemable Noncontrolling Interest - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Noncontrolling Interest [Line Items]
Redemption amount of noncontrolling interest	$ 62.6	$ 83.9
Class A Common Stock [Member]
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 [Member] \| Exchange of Redeemable Non controlling Interest To Class A Common Stock [Member]
Noncontrolling Interest [Line Items]
Stock conversion ratio	1.00
vTv Therapeutics LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage	28.60%

Redeemable Noncontrolling Interest - Summary of Net Income Attributable to Vtv Therapeutics Inc (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Net loss attributable to vTv Therapeutics Inc. common shareholders	$ (4,241)	$ (4,724)
Increase in vTv Therapeutics Inc. accumulated deficit for purchase of LLC Units as a result of common stock issuances	(2,410)	(2,423)
Change from net loss attributable to vTv Therapeutics Inc. common shareholders and transfers to noncontrolling interest	$ (6,651)	$ (7,147)

- Definition

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

+ References

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+ Details

Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 12:

Income Taxes

The Company is subject to U.S. federal income taxes as well as state taxes. The Company’s income tax provision for the three months ended March 31, 2021 was a de minimis amount related to foreign withholding taxes. The Company did not record an income tax provision for the three months ended March 31, 2020.

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% at March 31, 2021 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, 2021.

- 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.

+ References + Details

Summary of Significant Accounting Policies - Additional Information (Detail) - Revenue [Member] - Customer	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Number of customers	1	2
Customer [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage	100.00%	100.00%

Share-Based Compensation - Summary of Stock Award Activity for the Period (Detail)	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Share Based Arrangements To Obtain Goods And Services [Abstract]
Number of Shares, Awards outstanding, Beginning balance \| shares	4,453,357
Number of Shares, Exercised \| shares	(20,833)
Number of Shares, Forfeited \| shares	(28,121)
Number of Shares, Awards outstanding, Ending balance \| shares	4,404,403
Number of Shares, Options exercisable \| shares	2,135,504
Number of Shares, Options exercisable, Weighted average remaining contractual term	6 years 1 month 6 days
Number of Shares, Options vested and expected to vest \| shares	4,157,649
Number of Shares, 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 \| $ / shares	$ 4.41
Weighted-Average Exercise Price, Exercised \| $ / shares	2.24
Weighted-Average Exercise Price, Forfeited \| $ / shares	15.00
Weighted-Average Exercise Price, Awards outstanding, Ending balance \| $ / shares	4.35
Weighted-Average Exercise Price, Options exercisable \| $ / shares	6.74
Weighted-Average Exercise Price, Options vested and expected to vest \| $ / shares	$ 4.49