Ovid Therapeutics Inc Stock Price, News & Analysis

Ovid Therapeutics Inc. (NASDAQ: OVID) has appointed Dr. Kevin Fitzgerald to its Board of Directors. Dr. Fitzgerald brings over 20 years of experience in drug discovery, currently serving as Chief Scientific Officer at Alnylam Pharmaceuticals. His expertise in transforming scientific innovations into commercial medicines is expected to enhance Ovid's neuroscience development programs. Ovid focuses on developing therapies for rare neurological diseases, and Fitzgerald's addition is anticipated to strengthen the company's strategic approach in targeting central nervous system disorders.

Ovid Therapeutics (NASDAQ: OVID) announced a virtual presentation at the H.C. Wainwright 23rd Annual Global Investment Conference, scheduled for September 13, 2021, at 7:00 a.m. EDT. The event will feature on-demand viewing, accessible through the company's website. Ovid is focused on developing treatments for neurological diseases, with a pipeline that includes OV329 for seizures related to Tuberous Sclerosis Complex, OV882 for Angelman syndrome, and OV815 for KIF1A associated neurological disorders. The company also has significant interests in soticlestat, currently under development for Dravet syndrome and Lennox-Gastaut syndrome.

Ovid Therapeutics reported zero revenue for Q2 2021 and a net loss of $15.8 million, improving from a $22.6 million loss in Q2 2020. The company ended the quarter with $212.2 million in cash. Operating expenses were $14.3 million, with adjusted operating expenses of $10.0 million, aligning with guidance. Leadership appointments aim to enhance its neuroscience focus, including Dr. Michael Poole to the board. Ovid terminated a previous agreement with Takeda for soticlestat, transferring R&D responsibilities while retaining milestone and royalty rights.

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.