Ovid Therapeutics Earnings Reports

Ovid Therapeutics reported a revenue of $148,000 and a net loss of $11.7 million for the first quarter ended March 31, 2024. The company's cash, cash equivalents, and marketable securities totaled $90.3 million as of March 31, 2024, which is expected to support operations into H1 2026. Takeda has completed two Phase 3 trials studying soticlestat.

Ovid Therapeutics reported its Q4 and full-year 2023 financial results, highlighting the progress of its pipeline programs, including OV888, OV329, and OV350, and the anticipated milestones for soticlestat by Takeda. The company's cash runway is expected to extend into the first half of 2026.

Ovid Therapeutics reported a net loss of $11.3 million for the third quarter ended September 30, 2023. The company received a $30 million payment from Ligand for the sale of a 13% interest in the potential future royalties and milestone payments owed to Ovid for soticlestat and extended its expected cash runway into 2026.

Ovid Therapeutics reported a revenue of $75,000 for the second quarter of 2023, compared to no revenue in the same period of 2022. The company's net loss was $12.4 million, or $0.18 per share, compared to a net loss of $14.6 million, or $0.21 per share, for the same period in 2022. Cash, cash equivalents, and marketable securities totaled $96.5 million as of June 30, 2023.

Ovid Therapeutics reported its Q1 2023 financial results, highlighting a collaboration with Graviton Bioscience and the prioritization of its clinical small molecule programs. The company's cash runway is expected to fund operations into 2025. Ovid reported revenue of $66,160 and a net loss of $13.4 million, or $0.19 per share.

Ovid Therapeutics reported a net loss of $11.5 million for the fourth quarter of 2022, with revenue of $46,280. The company's cash, cash equivalents, and marketable securities totaled $129.0 million as of December 31, 2022, expected to fund operations into the first half of 2025. Key pipeline programs, including OV329 and OV350, are progressing, and Takeda anticipates regulatory filings for soticlestat in its FY 2024.

Ovid Therapeutics reported its Q3 2022 financial results, highlighting a cash balance of $137.9 million and a net loss of $12.0 million, while also advancing its epilepsy pipeline with the planned initiation of a Phase 1 study for OV329.

Ovid Therapeutics reported its Q2 2022 financial results with a net loss of $14.6 million. The company ended the quarter with $152.4 million in cash, cash equivalents and marketable securities, which is expected to support the advancement of its epilepsy pipeline into 2025. They anticipate filing an Investigational New Drug application for OV329 and initiating a Phase 1 trial in the second half of 2022.

Ovid Therapeutics reported a revenue of $1.4 million and a net loss of $16.1 million for the first quarter ended March 31, 2022. The company's cash and cash equivalents were $166.7 million as of March 31, 2022, which is expected to support the advancement of its current epilepsy programs into 2025.

Ovid Therapeutics reported its Q4 and full-year 2021 financial results, highlighting a strategic focus on building a leading epilepsy pipeline. The company is advancing OV329 to clinical trials and anticipates Phase 3 results for soticlestat in 2023. Ovid has reshaped its organization to reduce personnel by 20% and improve operational efficiency, extending its cash runway beyond 2024.

Ovid Therapeutics reported zero revenue for the quarter ended September 30, 2021, compared to $6.9 million for the same period in 2020. Research and development expenses were $4.9 million, compared to $15.9 million for the same period in 2020. The company's cash and cash equivalents were $201.8 million as of September 30, 2021.

Ovid Therapeutics reported its Q2 2021 financial results, highlighting a strong cash position of $212.2 million and recent appointments to the company's leadership team aimed at advancing neuroscience programs. The company's operating expenses were $14.3 million, but non-GAAP adjusted operating expenses were $10.0 million, within the company's guidance.

Ovid Therapeutics reported revenue of $208.4 million and net income of $176.0 million for the quarter ended March 31, 2021. The revenue was primarily due to the upfront payment from the Takeda agreement and the termination of the Angelini Pharma agreement. The company's cash and cash equivalents balance was $233.1 million at the end of Q1 2021.

Ovid Therapeutics reported Q4 2020 financial results, including revenue of $5.7 million, research and development expenses of $16.9 million, and a net loss of $22.0 million. They also announced a strategic agreement with Takeda for soticlestat and provided a corporate update on their pipeline.

Ovid Therapeutics reported revenue of $6.9 million for the third quarter of 2020, compared to zero for the same period in 2019. The increase was due to the receipt of the $20 million upfront payment under the collaboration and license agreement with Angelini Pharma Rare Diseases AG, of which $6.9 million was recognized in the third quarter as revenue and $13.1 million was deferred. The company reported a net loss of $16.4 million, or basic and diluted net loss per share attributable to common stockholders of $0.28.

Ovid Therapeutics reported its second quarter 2020 financial results, highlighting the completion of enrollment in the pivotal Phase 3 NEPTUNE trial with OV101 in Angelman syndrome and the upcoming data readouts for soticlestat. The company also entered an exclusive license agreement with Angelini Pharma for OV101 in Europe and received Rare Pediatric Disease Designation from the FDA for OV101 in Angelman syndrome.

Ovid Therapeutics reported a net loss of $20.0 million for the first quarter of 2020. The company is progressing with its clinical development programs, with anticipated data readouts for Soticlestat and OV101 in the coming quarters. Positive topline results were announced from the Phase 2 ROCKET trial of OV101 for the treatment of Fragile X syndrome.

Ovid Therapeutics reported a net loss of $17.0 million for the fourth quarter of 2019. The company's cash, cash equivalents, and short-term investments totaled $76.7 million as of December 31, 2019, which includes $56.0 million raised during the quarter.