Stock Alert: VTv Therapeutics Nearly Doubles On Investment By MacAndrews & Forbes

(RTTNews) - Shares of vTv Therapeutics Inc. (VTVT) are currently surging nearly 100% on Friday morning. MacAndrews & Forbes Group revealed that it purchased 625 thousand Class A common shares of the company.

VTVT is currently trading at $4.2697, up $2.0797 or 94.96%, on the Nasdaq.

On December 10, 2020, vTv Therapeutics exercised its right to cause MacAndrews & Forbes Group LLC to purchase 625,000 shares at $1.60 per share. Total proceeds from the investment was $1.0 million.

Further, the company announced that President and CEO Stephen Holcombe and CFO Rudy Howard will continue with their respective positions until December 31, 2021.