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SEC Filings

S-1
VITAE PHARMACEUTICALS, INC filed this Form S-1 on 08/12/2014
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Table of Contents


 
  Years Ended
December 31,
 
 
  2013   2012  
 
  (in thousands)
 

RORgt

  $ 10,186   $ 1,998  

BACE

    937     3,614  

LXRb

    607     8,386  

Discovery and Other

    2,397     1,009  

Contour and Technology Development

    790     920  
           

Total research and development expenses

  $ 14,917   $ 15,927  
           
           

    RORgt

        Our RORgt program is focused on the discovery of small molecule compounds with the potential to treat various autoimmune disorders. Autoimmune disorders comprise a large number of disease conditions where the body mounts an inappropriate immune response against normal, healthy tissues. These disorders include commonly known diseases such as psoriasis, multiple sclerosis, and rheumatoid arthritis, as well as rarer conditions such as Behcet's disease and autoimmune uveitis. We commenced discovery efforts for this program in the fourth quarter of 2012 and selected VTP-43742 as a product candidate in the first quarter of 2014. As a result of these activities, expenses related to RORgt increased in 2013 as compared with 2012. We plan to file an investigational new drug application, or IND, with the FDA for VTP-43742 to treat psoriasis in the first half of 2015 with Phase 1 clinical trials commencing thereafter. We expect to have Phase 1 data by the end of 2015.

    BACE

        We entered into the BACE Agreement in 2009. The funded research obligation of our strategic partnership began in June 2009 and expired in June 2013. In addition, the second amendment to the BACE Agreement in December 2012 obligated us, at BI's discretion, to supply a specified number of FTEs on a monthly basis during the period July 1, 2013 through June 30, 2014. Certain expenses, including patent expenses and animal studies, are incurred by us and reimbursed by BI on a quarterly basis. We record revenue and expenses on a gross basis under this arrangement.

    LXRb

        Our LXRb program is focused on the discovery and development of small molecule pharmaceutical agents with the potential to treat acute coronary syndrome and atopic dermatitis, also known as eczema. In 2012, discovery efforts were substantially complete, and in 2013, we focused primarily on clinical development, regulatory strategy and formula development. We have selected VTP-38443 as a product candidate for acute coronary syndrome, or ACS, and have selected VTP-38543 as a product candidate for atopic dermatitis. Ongoing expenses will be for the preclinical and clinical development of our existing candidates. The amount of future expense related to these programs will be dependent upon the design, timing and cost of studies and whether or not collaboration agreements are entered into to further their development. For VTP-38443, we anticipate completing the necessary preclinical development work and filing an IND in the first half of 2016, with Phase 1 clinical trials commencing thereafter. For VTP-38543, we anticipate completing the necessary preclinical development work and filing an IND by the second half of 2015, with Phase 1 clinical trials commencing thereafter.

    Discovery and Other

        Discovery and Other includes expenses related primarily to the investigation of potential scientific targets across multiple indications and for previous product candidates for which we have decided not to

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