Ovid Therapeutics Inc Stock Price, News & Analysis

Ovid Therapeutics (NASDAQ: OVID) announced significant leadership changes aimed at advancing its neuroscience initiatives. Dr. Michael Poole joins the Board, bringing over 30 years of expertise. Dr. Claude Nicaise has been appointed Head of R&D, while Jason Tardio becomes Chief Operating Officer. The company is focusing on early-stage development and has reduced its workforce by 25% to streamline operations. Dr. Amit Rakhit transitions to the Scientific and Clinical Advisory Board after contributing significantly to Ovid's management team.

Ovid Therapeutics announced its participation in the Ladenburg Thalmann 2021 Healthcare Conference on July 14, 2021, at 9:30 a.m. ET. The presentation will be conducted virtually, and interested individuals can access a live webcast on the Company's website. An archived replay will be available afterward. Ovid is focused on developing treatments for rare neurological diseases, featuring a pipeline that includes therapies for Tuberous Sclerosis Complex, Angelman syndrome, and other conditions.

Ovid Therapeutics Inc. (NASDAQ: OVID) announces that Chief Business Officer Jeffrey Rona has expanded his role to include Chief Financial Officer responsibilities, streamlining its corporate strategy. CEO Jeremy Levin highlighted this move as essential for enhancing operational efficiency. Rona, with over 25 years of experience in life sciences, expressed enthusiasm for leading the company's growth strategies. Ovid continues to focus on developing therapies for rare neurological disorders, with pipeline programs including OV329, OV882, and OV815.

Ovid Therapeutics Inc. (NASDAQ: OVID) recently announced the appointment of Joy A. Cavagnaro, Ph.D., and Bruce A. Sullenger, Ph.D., to its Scientific Advisory Board. These appointments aim to enhance Ovid's neuroscience expertise and drive development in rare neurological diseases. Dr. Cavagnaro brings over 30 years of experience in biotechnology and preclinical development, while Dr. Sullenger is a pioneer in translational research and RNA technology. Both are expected to significantly contribute to Ovid's mission of developing innovative treatments.

Ovid Therapeutics has closed a significant royalty, license, and termination agreement with Takeda for the investigational medicine soticlestat, receiving an upfront payment of $196.0 million with potential milestone payments up to $660.0 million and double-digit royalties on future sales. The company reported first-quarter 2021 revenue of $208.4 million, a stark increase from zero in the previous year, with a net income of $176.0 million. However, it terminated its agreement with Angelini Pharma and will discontinue the OV101 program for Angelman syndrome.

Ovid Therapeutics (NASDAQ: OVID) will participate in a virtual fireside chat at the 2021 RBC Capital Markets Global Healthcare Conference on May 19, 2021, at 9:10 a.m. ET. Investors can access the live audio webcast on the Company’s website, with an archived replay available afterward. Ovid focuses on developing therapies for rare neurological diseases using its BoldMedicine® approach. Its pipeline includes promising candidates addressing disorders such as Tuberous Sclerosis Complex and Angelman syndrome, with significant collaborations and research underway.

Ovid Therapeutics (NASDAQ: OVID) announced the appointment of Professor Robert S. Langer, Sc.D., as Chairman of its Scientific Advisory Board. Dr. Langer, a prominent figure in the neurosciences with significant awards and recognitions, will guide Ovid's strategy toward addressing key scientific challenges in rare neurological disorders.

His leadership is expected to enhance Ovid’s pipeline of innovative treatments, leveraging his extensive experience in drug development and biotechnology.

Ovid Therapeutics (NASDAQ: OVID) announced a strategic shift focusing on developing its early-stage pipeline, including OV882 for Angelman syndrome, while discontinuing OV101 for Angelman and Fragile X syndromes due to insufficient efficacy results. The company also highlighted its agreement with Takeda, securing $196 million and potential milestones totaling $660 million for the soticlestat program, which it retains financial interest in. Ovid expects quarterly operating expenses between $8 million and $10 million starting in Q2 2021, supported by over $250 million in cash and investments as of December 31, 2020.

Ovid Therapeutics has closed a significant agreement with Takeda Pharmaceutical for the global development and commercialization of soticlestat, aimed at treating developmental and epileptic encephalopathies. Ovid received an upfront payment of $196 million and can earn up to $660 million in milestone payments. Additionally, Ovid will receive royalties of up to 20% on soticlestat's sales. This transition eliminates Ovid's financial obligations to Takeda under the previous collaboration, allowing Ovid to focus on its innovative pipeline targeting rare neurological disorders.