Ovid Therapeutics Q3 2022 Earnings Report
Key Takeaways
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.
Ended Q3 2022 with $137.9 million in cash, cash equivalents and marketable securities, expected to support epilepsy pipeline advancement into 2025.
Intends to initiate a Phase 1 study in healthy volunteers in Q4 2022 for OV329, a GABA-aminotransferase inhibitor, following FDA clearance of IND application.
Entered a strategic collaboration with Gensaic to utilize its non-viral platform for genetic epilepsy programs.
Takeda continues to enroll and execute two pivotal Phase 3 trials studying soticlestat for Lennox-Gastaut syndrome (LGS) and Dravet syndrome (DS).