VTv Therapeutics (NASDAQ:VTVT) stock is falling hard on Monday after the Food and Drug Administration (FDA) placed a clinical hold on its cadisegliatin clinical program.
According to a news release from the company, that hold includes its TT1 Phase 3 trial in type 1 diabetes. The hold was put in place following a chromatographic signal in a human absorption, distribution, metabolism, and excretion (ADME) study of cadisegliatin.
This clinical hold requires vTv Therapeutics to conduct an in vitro study before it can resume its trial. That will have it seeking to characterize the signal to satisfy the FDA’s requirements.
VTv Therapeutics chairman, president and CEO Paul Sekhri said the following about the clinical hold.
“Patient safety is our top priority, and we appreciate the thoroughness of the FDA to better understand this signal. We are working diligently with the Agency to resolve the clinical hold and resume enrollment as quickly as possible.”
How This Affects VTVT Stock Today
With this news comes strong trading of VTVT shares on Monday. That has more than 10,000 shares changing hands. While that may not seem like much, the company’s daily average trading volume is just above it at roughly 15,000 shares.
VTVT stock is down 45.7% as of Monday morning.
Investors will want to keep reading for more of the most recent stock market stories today!
We have all of the hottest market new ready to go on Monday! A few examples include why shares of Lipella Pharmaceuticals (NASDAQ:LIPO) and Planet Image (NASDAQ:YIBO) stock are up, as well as the biggest pre-market stock movers this morning. All of this info is ready to go at the links below!
More Monday Stock Market News
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
