Welcome to our dedicated page for Ovid Therapeutics news (Ticker: OVID), a resource for investors and traders seeking the latest updates and insights on Ovid Therapeutics stock.
Ovid Therapeutics Inc. reports developments as a biopharmaceutical company developing targeted small-molecule medicines for brain disorders and symptoms linked to excess neural excitability. Recurring news centers on its KCC2 direct-activator portfolio, including OV350, OV4071 and next-generation candidates, as well as OV329, a next-generation GABA-aminotransferase inhibitor being developed for treatment-resistant seizures and related rare epileptic disorders.
Company updates also cover clinical and translational data, regulatory clearances for early-stage studies, R&D events, financial results, private-placement and warrant-related capital actions, investor conference participation, and leadership or governance changes tied to the advancement of its CNS pipeline.
Ovid Therapeutics has partnered with UConn to develop a next-generation short hairpin RNA (shRNA)-based therapeutic for Angelman syndrome, a genetic condition caused by the loss of UBE3A gene function. This collaboration aims to advance the shRNA therapy alongside Ovid's small molecule OV101, currently in Phase 3 trials. With the potential to restore UBE3A function, this initiative signifies Ovid's commitment to addressing the needs of individuals with Angelman syndrome, indicating a strategic shift in their research direction. Topline results for OV101 are expected in Q4 2020.
Ovid Therapeutics has partnered with Angelini Pharma to develop, manufacture, and market OV101 (gaboxadol) for Angelman syndrome in Europe and Russia. This agreement grants Ovid an upfront payment of $20 million and up to $212.5 million based on milestones, along with double-digit royalties on net sales. OV101 is currently in a pivotal Phase 3 trial with results expected in Q4 2020. Ovid retains all rights outside Europe. This collaboration aims to accelerate the drug's availability to patients with no approved treatment.
Ovid Therapeutics (NASDAQ: OVID) announced that the FDA has granted Rare Pediatric Disease Designation to OV101 (gaboxadol) for treating Angelman syndrome. OV101 is undergoing a pivotal Phase 3 trial (NEPTUNE) with topline results expected in Q4 2020. The FDA has previously provided Orphan Drug and Fast Track designations for OV101. If approved, Ovid may receive a priority review voucher. Angelman syndrome affects approximately 1 in 12,000 to 1 in 20,000 individuals globally, with no approved therapies available currently.
Ovid Therapeutics has announced a strategic multiyear research collaboration with Columbia University Irving Medical Center to develop genetic-based therapies for rare neurological disorders. The partnership, led by genetics expert Dr. Wendy K. Chung, aims to expand Ovid's drug development portfolio, focusing on conditions such as KIF1A-associated neurological disorder. This collaboration complements Ovid's existing clinical programs and supports their commitment to transforming treatment options for patients with rare neurological diseases.
Ovid Therapeutics Inc. (NASDAQ: OVID) announced that President and Chief Medical Officer Amit Rakhit, M.D., MBA, will participate in a fireside chat at the 2020 RBC Capital Markets Virtual Global Healthcare Conference on May 19 at 1:20 p.m. ET. This session aims to discuss the company's commitment to developing transformative medicines for rare neurological diseases. Ovid's pipeline includes the investigational medicine OV101 for Angelman syndrome and Fragile X syndrome, and OV935 for rare developmental and epileptic encephalopathies in collaboration with Takeda. Details will be available through their website.
Ovid Therapeutics (NASDAQ: OVID) announced positive topline results from the Phase 2 ROCKET trial of OV101, a GABAA receptor agonist targeting Fragile X syndrome, which has no approved therapies. The trial met its primary objective of safety and tolerability over 12 weeks, with no serious adverse events reported. Secondary results showed statistically significant reductions in behavioral symptoms: a 26.2% improvement in the Aberrant Behavior Checklist and a 21.6% improvement in the Anxiety, Depression and Mood Scale. Ovid is now evaluating dosing options and planning further discussions with regulators.