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Ovid Therapeutics Inc. (NASDAQ: OVID) is a pioneering biopharmaceutical company dedicated to creating transformative medicines for patients and families affected by rare neurological disorders. The company’s primary focus is on developing treatments for conditions such as Angelman syndrome and Fragile X syndrome through its innovative drug candidates, OV101 and OV935.
OV101, Ovid’s lead drug candidate, is designed to address the symptoms of Angelman syndrome and Fragile X syndrome. The company has initiated the Phase 2 STARS trial to evaluate the efficacy of OV101 in adults with Angelman syndrome and is also conducting a Phase 1 trial in adolescents to identify suitable doses for younger patients. These efforts underscore Ovid’s commitment to advancing treatments for underserved communities.
In collaboration with Takeda Pharmaceutical Company Limited, Ovid is developing OV935 for the treatment of rare epileptic encephalopathies. This partnership aims to leverage both companies' strengths to accelerate the development of novel therapies. Ovid’s pipeline features a range of potential first-in-class and in-class mechanisms of action, highlighting the company's innovative approach to tackling rare epilepsies and seizure-related neurological disorders.
Ovid Therapeutics is also committed to maintaining transparency and fostering a supportive community. The company’s Community Guidelines, available on their website, outline their dedication to integrity and patient-focused values.
Recent corporate updates include the announcement of fourth-quarter and annual 2023 financial results and the first-quarter 2024 financial results, which provide insights into the company’s financial health and strategic direction. Ovid continues to make significant strides in its clinical and research pipeline, aiming to bring meaningful change to the lives of those affected by rare neurological disorders.
Ovid Therapeutics (Nasdaq: OVID) announced the presentation of four posters at the 2024 American Epilepsy Society Annual Meeting in Los Angeles, highlighting their pipeline programs targeting neuronal hyperexcitability. The presentations focus on two key compounds: OV329, a next-generation GABA aminotransferase inhibitor, and OV350, a KCC2 direct activator.
The research demonstrates OV329's improved safety profile and lack of ocular accumulation compared to vigabatrin, along with its effectiveness in elevating GABA and suppressing seizures. Studies also show OV350's potential in treating nerve agent-induced benzodiazepine-resistant refractory status epilepticus. The company aims to be the first to study a KCC2 direct activator in humans next year.
Ovid Therapeutics reported Q3 2024 financial results and business updates. The company's Phase 1 SAD/MAD study of OV329 is progressing with plans to expand dosing opportunities. A regulatory application for OV350 Phase 1 trial is expected in Q4 2024. The company has paused Phase 2 study of OV888/GV101 to evaluate competitor trial insights. Financial position shows $62.7 million in cash and marketable securities, expected to support operations into H2 2026. Q3 results include revenue of $173,000, R&D expenses of $7.9 million, and a net loss of $14.0 million ($0.20 per share).
Ovid Therapeutics (Nasdaq: OVID) has announced an investor event called KCC2 Download Day scheduled for November 13, 2024, from 9:30 to 11:30 am ET at their New York headquarters. The event will focus on their portfolio of direct potassium chloride co-transporter 2 (KCC2) activators, including updates on OV350, their lead program.
Three distinguished speakers will present: Dr. Jeffrey Noebels from Baylor College of Medicine, Dr. Karl Kieburtz from University of Rochester School of Medicine, and Dr. Stephen Moss from Tufts University. The event will be available via webcast, and in-person attendees can register through Ovid's Investor Relations.
Ovid Therapeutics (NASDAQ: OVID) presented results of a pre-clinical study comparing OV329 to vigabatrin (VGB) at the Epilepsy Pipeline Conference. The study found that OV329 did not accumulate in mouse retinas, eyes, or brains after 48 hours of continuous exposure, unlike VGB which showed ocular accumulation. OV329's unique properties, including potency, short half-life, and rapid tissue elimination, suggest a potentially differentiated ocular safety profile.
The study tested OV329 at 5 mg/kg/day versus VGB at 80 mg/kg/day. OV329 concentrations were undetectable in target tissues, while VGB accumulated preferentially in the retina and other tissues. Ovid is currently conducting a Phase 1 trial of OV329 in healthy volunteers, expected to complete in late 2024, evaluating safety and biomarkers for target engagement and clinical effect.
Ovid Therapeutics Inc. (NASDAQ: OVID) has promoted Meg Alexander to President and Chief Operating Officer (COO). This strategic move aims to strengthen the company's leadership and drive future growth in its mission to develop disease-halting neurotherapeutics for rare epilepsies and brain conditions.
Alexander, who joined Ovid in 2020, will oversee operations, R&D, program management, investor relations, commercial strategy, human resources, and corporate affairs. She brings extensive experience in the biopharmaceutical industry, having guided the launch of over 25 medicines and shaped major initiatives for leading companies.
The promotion is part of Ovid's strategy to advance its development pipeline, which includes novel ROCK2 inhibitors, KCC2 direct activators, and a GABA-aminotransferase inhibitor. This leadership change positions Ovid to capitalize on its scientific, development, and deal-making expertise to create value and impact the lives of those with intractable brain disorders.
Ovid Therapeutics (NASDAQ: OVID), a biopharmaceutical company focused on rare epilepsies and brain conditions, has announced its participation in two major investor conferences this September. The company will present at the H.C. Wainwright 26th Annual Global Investment Conference on September 10th at 3:30 p.m. ET. Additionally, Ovid will engage in a fireside chat at the Cantor Global Healthcare Conference on September 17th at 1:55 p.m. ET.
Both events will be webcast live and can be accessed through the Events & Presentations section of Ovid's investor website. Archived replays will be available on the company's website following the live presentations, providing investors and interested parties with opportunities to stay informed about Ovid's latest developments and strategic outlook.
Ovid Therapeutics (NASDAQ: OVID) reported business updates and Q2 2024 financial results. Key highlights include:
- Appointment of Dr. Amanda Banks as Chief Development Officer
- Expansion of Scientific Advisory Board
- 43% workforce reduction and streamlined operations
- Strong financial position with $77.0 million in cash and marketable securities
- Advancement of OV888/GV101 to Phase 2 proof-of-concept study
- Anticipated completion of OV329 Phase 1 MAD study in H2 2024
- Suspension of OV329 IV program
- Planned regulatory submission for OV350 in H2 2024
Financial results show $169,000 in revenue, $20.7 million in operating expenses, and a net income of $8.5 million for Q2 2024. The company expects its cash runway to support operations through late H1 2026.
Ovid Therapeutics (NASDAQ: OVID) has appointed Dr. Amanda Banks as Chief Development Officer. Dr. Banks will oversee clinical development, medical, and regulatory affairs functions, as well as drive corporate development strategy. Her expertise in neurology, clinical strategy, and business development is expected to help Ovid unlock potential therapeutic opportunities in their ROCK2 inhibition and KCC2 direct activator platforms.
Dr. Banks brings a strong track record in business leadership and securing transformational partnerships. Her experience spans multiple therapeutic areas, including neurology, oncology, metabolic disorders, and infectious disease. Prior to joining Ovid, she co-founded and served as CEO of Blackfynn, a data platform company focused on accelerating therapeutics development for neurological diseases.
Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company focused on improving lives affected by epilepsies and brain conditions, has announced its participation in two upcoming investor conferences in August 2024:
1. BTIG Virtual Biotechnology Conference: Ovid will engage in a fireside chat on Tuesday, August 6th at 10:00 a.m. ET.
2. 2024 Wedbush PacGrow Healthcare Conference: The company will participate in a panel discussion on Tuesday, August 13th at 10:15 a.m. ET.
Both events will be accessible via live webcasts through the Events & Presentations section of Ovid's website at investors.ovidrx.com. Archived replays will be available on the company's website following the live presentations.
Ovid Therapeutics (NASDAQ: OVID) has expanded its Scientific Advisory Board (SAB) with the appointment of leading neurologists, neuroscientists, and epileptologists. The expanded SAB will advise on the potential application of Ovid's compounds to broader brain disorders, focusing on conditions caused by hyperexcitability, neurovascular and neuro-inflammatory dysfunction.
Key appointments include Dr. Imad Najm of Cleveland Clinic, Dr. Raman Sankar of UCLA Health, Dr. Jamie Maguire of Tufts University, and Dr. Jeff Noebels of Baylor College of Medicine. The SAB, chaired by Professor Robert Langer, will focus on translation and clinical development strategies for Ovid's ROCK2 inhibitor and KCC2 direct activator portfolio.
Ovid anticipates multiple milestones in H2 2024, including a Phase 2 study of OV888/GV101, Phase 1 data readout for OV329, and IND submission for OV350.
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