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Dec 31, 2019
Ovid Therapeutics Q4 2019 Earnings Report
Ovid Therapeutics reported its financial results for Q4 2019 and provided a corporate update for 2020.
Key Takeaways
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.
Multiple clinical data readouts across Ovid’s pipeline are expected in 2020.
The company completed financings in the fourth quarter, strengthening the balance sheet.
Ovid raised approximately $56.0 million of net proceeds from the October public offering and sales of common stock through the ATM program.
Jason Tardio was appointed as Chief Commercial Officer.
Forward Guidance
Ovid Therapeutics anticipates multiple clinical data readouts across its pipeline in 2020.
Positive Outlook
- Initial data from the ongoing open-label Phase 2 ARCADE study in CDKL5 deficiency disorder and Dup15q syndrome by the end of the first quarter of 2020.
- Data from the signal-finding Phase 2 ROCKET trial in Fragile X syndrome along with SKYROCKET, the non-interventional trial in Fragile X syndrome, early in the second quarter of 2020.
- Data from the placebo-controlled Phase 2 ELEKTRA trial in children with Dravet syndrome and Lennox-Gastaut syndrome is expected to be available in the third quarter of 2020.
- Topline data from the pivotal Phase 3 NEPTUNE trial in Angelman syndrome is expected mid-year.
- Longer-term data from the ARCADE patients who have enrolled in the ENDYMION trial.
Historical Earnings Impact
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