Loading...
•
Dec 31, 2020
Ovid Therapeutics Q4 2020 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2020, and provided a corporate update for 2021.
Key Takeaways
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.
Signed a transaction to transfer global rights of soticlestat to Takeda, eligible for up to $856 million in payments, including a $196 million upfront payment.
Two pivotal Phase 3 trials of soticlestat are on track to commence in Q2 2021 and will be fully funded by Takeda upon closing of the transaction.
The transaction with Takeda is expected to result in savings of at least $250 million and significantly reduce cash spend.
Topline results from the Phase 3 NEPTUNE clinical trial of OV101 for Angelman syndrome did not achieve the primary endpoint.
Revenue by Segment
Forward Guidance
Following the closing of the Takeda transaction, Ovid anticipates quarterly operating expenses, excluding non-cash expenses, to be in the range of $8 million to $10 million.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...