Ovid Therapeutics Posts Wider Q2 Loss, Advances Two Clinical Programs

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โดย Insider Monkey·US·Read original
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Ovid Therapeutics reported second-quarter financial results on August 13, with cash of $169.8 million that the company says funds operations into 2029. The biopharmaceutical company said OV4071, described as the first oral direct KCC2 activator, is in an ongoing Phase 1 study in healthy volunteers, with data expected to support a Phase 2 proof-of-concept study in acute schizophrenia in 2027, and a ketamine challenge study planned for the second half of 2026. Its second program, OV329, a next-generation GABA-AT inhibitor, entered a Phase 2 randomized, placebo-controlled study in treatment-resistant focal onset seizures expected to finish in the second half of 2027. Ovid also secured equity and milestone rights in a new company formed by Perceptive Advisors that acquired global rights to soticlestat from Ovid and Takeda, making Ovid eligible for up to $294.5 million in potential clinical, regulatory, and commercial milestones plus royalties. Research and development expenses rose to $10.0 million from $6.5 million a year earlier, total operating expenses reached $16.4 million, and the net loss widened to $15.0 million, or $0.08 per share, from $4.7 million, or $0.06 per share.

Impact on stocks 3

Biotech & Genomic Medicine▲ · 2 stocks
Ovid Therapeutics Inc
OVID
▲ PositiveCapitalTechnologyrelevance

Q2 net loss widened to $15.0M and R&D/opex rose, but cash of $169.8M funds operations into 2029.

Aging Population▲ · 1 stocks

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Off-coverage companies 1

Perceptive AdvisorsPrivate▲ Positive
Capitalrelevance

Perceptive Advisors formed a new company that acquired global soticlestat rights from Ovid and Takeda.

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