The balance sheet shows improved liquidity with a current ratio of 14.36 as of 2026Q1, though this is heavily offset by a significant $302.6 million accumulated deficit that continues to weigh on shareholder equity.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 98.81M | 89.89M | 38.11M | 10.66M | 27.09M | 15.62M | 7.21M | 2.84M | 3.47M | 20.36M | 52.12M | 89.19M | 1.61M | 2.42M |
| Cash & Short-Term Investments | 98.09M | 88.93M | 36.75M | 9.45M | 12.13M | 13.41M | 5.75M | 1.78M | 1.68M | 11.76M | 51.51M | 88M | 1.38M | 1.16M |
| Cash Only | 98.09M | 88.93M | 36.75M | 9.45M | 12.13M | 13.41M | 5.75M | 1.78M | 1.68M | 11.76M | 51.51M | 88M | 1.38M | 1.09M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 69K |
| Accounts Receivable | 0 | 0 | 62K | 102K | 12.42M | 57K | 158K | 5K | 0 | 8M | 0 | 69K | 0 | 215K |
| Days Sales Outstanding | - | - | 22.25 | - | 2.25K | 5.19 | 8.99 | 0.66 | - | 10.03K | - | 48.53 | - | 80.4 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 100K | 371K | 0 | 0 | 162K | 0 | 0 | 0 | 130K |
| Days Inventory Outstanding | - | - | - | - | - | - | 12.29 | - | - | 1.49 | - | - | - | 1.87 |
| Other Current Assets | 722K | 961K | 0 | 0 | 0 | 35K | 0 | 0 | 666K | 442K | 612K | 1.11M | 130K | 999K |
| Total Non-Current Assets | 5K | 6K | 153K | 361K | 6.14M | 9.85M | 7.57M | 6.43M | 5.09M | 7.55M | 2.38M | 2.35M | 11.34M | 13.08M |
| Property, Plant & Equipment | 0 | 0 | 153K | 361K | 556K | 680K | 849K | 1M | 70K | 283K | 444K | 624K | 3.78M | 5.79M |
| Fixed Asset Turnover | 1315.68x | - | 6.65x | - | 3.63x | 5.89x | 7.55x | 2.75x | 177.63x | 1.03x | 1.43x | 0.83x | 0.41x | 0.17x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 5.59M | 9.17M | 6.72M | 2.48M | 2.48M | 2.48M | 0 | 49K | 0 | 0 |
| Other Non-Current Assets | 5K | 6K | 0 | 0 | 0 | 0 | 0 | 2.94M | 2.54M | 4.79M | 1.93M | 1.67M | 7.56M | 7.29M |
| Total Assets | 98.81M | 89.9M | 38.27M | 11.02M | 33.24M | 25.47M | 14.79M | 9.27M | 8.56M | 27.92M | 54.49M | 91.53M | 12.95M | 15.5M |
| Asset Turnover | 0.47x | - | 0.03x | - | 0.06x | 0.16x | 0.43x | 0.30x | 1.45x | 0.01x | 0.01x | 0.01x | 0.12x | 0.06x |
| Asset Growth % | 430.89% | 134.93% | 247.3% | -66.85% | 30.48% | 72.25% | 59.6% | 8.26% | -69.34% | -48.77% | -40.46% | 606.76% | -16.47% | - |
| Total Current Liabilities | 6.88M | 6.64M | 5.2M | 10.62M | 7.71M | 8.5M | 6.39M | 13.38M | 18.84M | 26.93M | 11.43M | 7.73M | 6.86M | 87.58M |
| Accounts Payable | 0 | 1.13M | 939K | 4.08M | 2.46M | 1.88M | 1.93M | 2.23M | 2.9M | 2.27M | 3.06M | 4.14M | 2.66M | 4.83M |
| Days Payables Outstanding | 1.47M | - | - | - | - | - | 63.79 | 53.88 | 45.94 | 20.89 | 24.41 | 51.1 | 51.84 | 69.39 |
| Short-Term Debt | 0 | 0 | 0 | 191K | 224K | 256K | 84K | 6.17M | 9.38M | 4.27M | 0 | 0 | 155K | 80.91M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 17K | 17K | 35K | 31K | 31K | 1.75M | 8.76M | 21K | 219K | 2.8M | 137K |
| Other Current Liabilities | 6.88M | 5.51M | 1.51M | 4.7M | 788K | 3.2M | 1.59M | 1.56M | 0 | 0 | 6.88M | 2.33M | 1.88M | 137K |
| Current Ratio | 14.36x | 13.54x | 7.34x | 1.00x | 3.52x | 1.84x | 1.13x | 0.21x | 0.18x | 0.76x | 4.56x | 11.54x | 0.23x | 0.03x |
| Quick Ratio | 14.36x | 13.54x | 7.34x | 1.00x | 3.52x | 1.83x | 1.07x | 0.21x | 0.18x | 0.75x | 4.56x | 11.54x | 0.23x | 0.03x |
| Cash Conversion Cycle | - | - | - | - | - | - | -42.5 | - | - | 10.01K | - | - | - | 12.88 |
| Total Non-Current Liabilities | 1.97M | 18.82M | 18.77M | 18.95M | 19.69M | 1.75M | 4.61M | 4.72M | 72.58M | 152.03M | 134.01M | 161.78M | 504.89M | 231.65M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.33M | 15.32M | 11.06M | 0 | 36.01M | 2.27M |
| Capital Lease Obligations | 0 | 0 | 0 | 169K | 338K | 492K | 676K | 831K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 64.92M | 131.93M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.97M | 152K | 100K | 110K | 684K | 1.26M | 2.92M | 2.86M | 2.7M | 782K | 433K | 245K | 30.79M | 229.39M |
| Total Liabilities | 8.85M | 25.46M | 23.96M | 29.57M | 27.4M | 10.25M | 11M | 18.11M | 91.41M | 178.96M | 145.44M | 169.5M | 511.76M | 319.24M |
| Total Debt | 0 | 0 | 169K | 529K | 716K | 932K | 915K | 7.11M | 15.71M | 19.59M | 11.06M | 0 | 36.17M | 83.17M |
| Net Debt | -98.09M | -88.93M | -36.58M | -8.92M | -11.41M | -12.48M | -4.83M | 5.34M | 14.03M | 7.83M | -40.45M | -88M | 34.78M | 82.08M |
| Debt / Equity | 0.00x | - | 0.01x | - | 0.12x | 0.06x | 0.24x | - | - | - | 0.35x | - | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 32.33x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -322.50x | -5179.00x | - | -1996.38x | -1657.20x | -1467.00x | -17.50x | -10.95x | -6.19x | -16.41x | -138.08x | -22.67x | -5.01x | -3.08x |
| Total Equity | 89.96M | 64.44M | 14.3M | -18.55M | 5.84M | 15.22M | 3.79M | -8.84M | -20.37M | -19.61M | 31.57M | 83.56M | -498.81M | -303.73M |
| Equity Growth % | 1467.27% | 350.58% | 177.1% | -417.67% | -61.64% | 301.32% | 142.91% | 56.61% | -3.9% | -162.11% | -62.22% | 116.75% | -64.23% | - |
| Book Value per Share | 10.68 | 7.65 | 2.48 | -8.90 | 3.04 | 9.72 | 3.22 | -11.67 | -65.45 | -80.91 | 132.29 | 403.85 | -2402.34 | -1478.08 |
| Total Shareholders' Equity | 89.96M | 64.44M | 12.2M | -24.68M | -10.74M | -9.74M | -80.1M | -49.02M | -82.85M | -151.05M | -90.94M | -77.97M | -498.81M | -303.73M |
| Common Stock | 39K | 39K | 32K | 27K | 27K | 901K | 773K | 641K | 435K | 329K | 329K | 329K | 0 | 0 |
| Retained Earnings | -302.56M | -326.69M | -299.72M | -281.04M | -265.52M | -248.83M | -290.04M | -233.52M | -233.88M | -279.06M | -215.49M | -195.99M | -498.81M | -303.73M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8.43M | -9.12M | -10.45M | -11.09M | -11.84M | -14.28M |
| Minority Interest | 0 | 0 | 2.1M | 6.13M | 16.58M | 24.96M | 83.89M | 40.18M | 62.48M | 131.44M | 122.52M | 161.53M | 0 | 0 |
Clinical trial funding dependency
As reported in recent financial statements, VTVT's total assets surged to $98.8 million in 2026Q1 from a low of $11.0 million in 2023Q4, signaling a temporary stabilization of the balance sheet driven by successful capital raises rather than organic growth from commercial operations.
The dramatic expansion in the asset base appears to be a direct result of external financing efforts intended to fund the Phase 3 CATT1 trial. While this provides a necessary buffer, investors should monitor whether this capital can be efficiently converted into clinical milestones before the next funding requirement arises.
Based on the 2026Q1 balance sheet, the company maintains a robust current ratio of 14.36, supported by $98.1 million in cash, which provides a significant liquidity buffer compared to the $29.6 million in liabilities observed during the 2023Q4 period of extreme financial distress.
The current liquidity position suggests the company has successfully mitigated immediate going-concern risks. However, given the high-burn nature of late-stage biotech, this liquidity is likely transient and contingent upon the disciplined execution of the TTP399 clinical program.
According to historical balance sheet data, VTVT's equity position remains heavily burdened by an accumulated deficit of $302.6 million as of 2026Q1, reflecting years of R&D-heavy operations that have consistently eroded shareholder value despite periodic capital injections.
The negative retained earnings highlight the long-term capital intensity of the company's drug development model. Future equity quality will likely remain sensitive to further dilution, as the company may need to tap capital markets again to sustain operations beyond the current clinical cycle.
As disclosed in regulatory filings, the high concentration of ownership by MacAndrews & Forbes introduces a non-obvious governance risk, where the balance sheet's apparent strength may be influenced by the strategic priorities of a single majority shareholder rather than independent market-driven capital allocation.
This ownership structure warrants further investigation, as it may limit the company's flexibility in seeking alternative financing or strategic partnerships. Investors should consider whether the current balance sheet stability is truly independent or if it remains tethered to the specific financial interests of the controlling entity.
Quick answers to the most common questions about buying VTVT stock.
As of 2025, vTv Therapeutics Inc. (VTVT) had total assets of $89.9M including $89.9M in current assets.
vTv Therapeutics Inc. (VTVT) carries total debt of $0.0M, offset by $88.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
vTv Therapeutics Inc. (VTVT) has total shareholders' equity (book value) of $64.4M ($7.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
vTv Therapeutics Inc. (VTVT) reported a current ratio of 13.54x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.