vTv Therapeutics Shares Jump On Out-Licensing Agreement For Azeliragon In Cancer Settings

Privately-held Cantex Pharmaceuticals Inc has entered into a licensing agreement with vTv Therapeutics Inc VTVT to develop and commercialize vTv's azeliragon.
Under the terms of the agreement, Cantex will be responsible for the development and commercialization of azeliragon, and the companies will allocate downstream profits under a tiered arrangement.
No other financial details were disclosed.
"As such, the opportunity to develop azeliragon, a phase 2-ready oral medication administered once daily, which has demonstrated a good safety profile in several Alzheimer's disease trials, is an excellent fit for Cantex. We intend to move rapidly to prepare for clinical trials assessing the potential of azeliragon for the treatment of a number of complications associated with cancer," said Cantex CEO & President Stephen Marcus.
Azeliragon (TTP488) is an orally active, small molecule antagonist of the receptor for advanced glycation endproducts (RAGE).
Price Action: VTVT shares are up 6.99% at $2.53 during the market session on the last check Tuesday.