Ovid Therapeutics Inc Stock Price, News & Analysis

Ovid Therapeutics Inc. (NASDAQ: OVID) announced its participation in the H.C. Wainwright 24th Annual Global Investment Conference in New York on September 12, 2022, at 12:00 p.m. ET. The company's focus is on developing medicines for epilepsy and brain disorders. A live webcast of the presentation will be available on their website, along with an archived replay. Ovid is advancing treatments like OV329 and OV350, targeting epilepsy, and is involved in the Phase 3 trials of soticlestat, a collaboration with Takeda.

Ovid Therapeutics (NASDAQ: OVID) reported its Q2 2022 financial results, ending with cash and marketable securities of $152.4 million, supporting ongoing epilepsy pipeline development into 2025. The company plans to file an Investigational New Drug application for OV329, a GABA-aminotransferase inhibitor, in the second half of 2022. Preclinical data from six animal models indicate a strong anti-seizure potential for OV329. Net loss for the quarter was approximately $14.6 million, slightly improved from $15.8 million in Q2 2021.

Ovid Therapeutics (NASDAQ: OVID) presented promising preclinical data for OV329, a next-generation GABA-aminotransferase inhibitor targeting rare and treatment-resistant epilepsies. OV329 showed strong anti-seizure activity across various models, significantly reducing seizures by over 70% in a focal seizure model. Notably, it demonstrated an improved ocular safety profile compared to existing treatments. Ovid plans to submit an Investigational New Drug application in the second half of 2022, aiming to initiate clinical studies later this year.

Ovid Therapeutics (NASDAQ: OVID) reported first-quarter results for 2022, revealing a revenue of $1.4 million compared to $208.4 million in Q1 2021. The significant drop is attributed to prior licensing agreements. The company also posted a net loss of $16.1 million, with a basic loss per share of $0.23. Ovid anticipates submitting an IND for OV329, a treatment for rare epilepsies, in Q4 2022. Cash reserves stand at $166.7 million, sufficient to support operations through 2025. Collaborative efforts with Tufts University aim to advance their epilepsy drug pipeline.

Ovid Therapeutics (NASDAQ: OVID) announces its participation in the 21st Annual Needham Virtual Healthcare Conference on April 14, 2022, at 12:45 p.m. ET. Ovid management will also engage in a panel on epilepsy therapeutic trends on April 11, 2022, at 11:45 a.m. ET. A live webcast will be available on the company's website, with an archived replay afterward. Ovid is advancing its pipeline, including soticlestat, which is in Phase 3 trials for Dravet and Lennox-Gastaut syndromes, with regulatory decisions expected in early 2024.

Ovid Therapeutics announced a strategic update, highlighting its focus on developing novel epilepsy treatments, including the anticipated clinical trial for OV329 in 2022. The company is restructuring to reduce its workforce by 20%, aiming to enhance operational efficiency and extend its cash runway beyond 2024. Financial results showed a revenue increase to $208.4 million for 2021, primarily from a one-time payment from Takeda. However, a net loss of $26 million was reported for Q4 2021. The company plans to continue disciplined business development, including licensing agreements for gaboxadol and ganaxolone.

Ovid Therapeutics (NASDAQ: OVID) announced participation in the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 9:10 a.m. ET. The virtual panel discussion will focus on orphan neurological disorders. A live webcast and an archived replay will be available on the Company's website.

Ovid's pipeline includes innovative treatments for seizures and rare neurological disorders, such as OV329, OV350, and OV882, among others. The company maintains a significant interest in the development of soticlestat, with ongoing Phase 3 trials.

Ovid Therapeutics has entered into an exclusive licensing agreement with Healx for the development of gaboxadol. Healx intends to explore gaboxadol as a combination therapy for Fragile X syndrome and other conditions. The licensing agreement includes milestone payments for Ovid based on Healx's clinical, regulatory, and commercial achievements. Ovid will also receive tiered royalties on gaboxadol sales. This collaboration aims to accelerate the discovery of treatments for rare diseases, particularly those caused by Fragile X syndrome, which currently lacks effective therapies.

Ovid Therapeutics has signed an exclusive licensing deal with AstraZeneca for a library of early-stage small molecules aimed at the KCC2 transporter, including lead candidate OV350. This initiative is intended to enhance Ovid's pipeline for anti-epileptic therapies. The agreement involves a $5 million upfront payment and $7.5 million in Ovid shares, with additional potential milestones totaling up to $203.5 million. OV350 has shown promising results in preclinical studies for resistant epilepsy forms, targeting neuronal hyperexcitability.