Ovid Therapeutics Q3 2021 Earnings Report
Key Takeaways
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.
Implementing business development program to enhance pipeline of CNS medicines.
Soticlestat development program (licensed to Takeda) has begun enrolling patients in Phase 3 trials.
Company ended the quarter with $201.8 million in cash and cash equivalents.
Strategic review of potential programs confirmed desired areas of business development.
Ovid Therapeutics
Ovid Therapeutics
Forward Guidance
Ovid expects non-GAAP adjusted operating expenses to remain within the $8.0—$10.0 million range for the fourth quarter of 2021.