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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 Inc. (NASDAQ: OVID) announces the appointment of Manoj Malhotra, M.D., as Chief Medical Officer and Toshiya Nishi, D.V.M., as Head of Epilepsy Research. Dr. Malhotra brings extensive experience in neurological medicine and has held senior roles at major pharmaceutical companies. He aims to enhance Ovid’s research pipeline for seizure treatments. Dr. Nishi, co-inventor of soticlestat, will focus on Ovid’s KCC2 transporter activators. Both leaders are expected to play critical roles in advancing Ovid’s innovative therapies for epilepsy, showcasing the company’s commitment to improving the lives of those affected by brain disorders.
Ovid Therapeutics has initiated a Phase 1 study for OV329, a next-generation GABA-aminotransferase inhibitor, aimed at treating rare epilepsies. This first-in-human trial, conducted at Duke University, will assess the safety and efficacy of OV329 in healthy volunteers. The study's design includes single and multiple ascending doses. With over 60 participants expected, results are anticipated in the first half of 2024. This innovative treatment targets treatment-resistant seizures, potentially offering improved safety and efficacy compared to existing medications.
Ovid Therapeutics announced promising preclinical data for OV329 and OV350 at the 2022 American Epilepsy Society Annual Meeting. OV329, a next-generation GABA-aminotransferase inhibitor, showed potential efficacy and safety with low, chronic dosing, outperforming existing treatments. OV350 demonstrated efficacy in activating KCC2 to combat refractory status epilepticus and reduce neuronal damage. Both programs aim to address treatment-resistant epilepsies, providing hope for patients. Key data from NIH's Epilepsy Therapy Screening Program highlighted significant seizure protection in animal models.
Ovid Therapeutics reported Q3 2022 results showing a net loss of approximately $12 million, equal to $0.17 per share. The company ended the quarter with cash and equivalents of $137.9 million, expected to support operations into 2025. Ovid aims to initiate a Phase 1 study for its GABA-aminotransferase inhibitor, OV329, in Q4 2022 after FDA IND clearance. They are collaborating with Gensaic for genetic epilepsy programs while optimizing other compounds in their pipeline. The company remains committed to maintaining a sufficient cash runway and advancing its epilepsy-related projects.
Ovid Therapeutics Inc. (NASDAQ: OVID) will present at the Ladenburg Thalmann 2022 Healthcare Conference on September 29, 2022, at 9:00 a.m. ET in New York. A live webcast will be available on the company's website, with an archived replay accessible post-event. Ovid is focused on developing medicines for brain disorders and epilepsies, including their candidates OV329 and OV350, aimed at treatment-resistant seizures. The company holds a financial interest in soticlestat, a drug in Phase 3 trials for specific epilepsy syndromes.
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.
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