Loading...
•
Dec 31, 2021
Ovid Therapeutics Q4 2021 Earnings Report
Ovid reshaped the organization to reduce personnel and increase efficiency, advanced its epilepsy pipeline, and prepared OV329 for clinical trials.
Key Takeaways
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 is focused on building a leading epilepsy pipeline.
OV329 is expected to enter the clinic in 2022.
The organization was reshaped to reduce personnel by 20% and increase operational efficiency.
Targeted business development continues to support the pipeline.
Ovid Therapeutics
Ovid Therapeutics
Forward Guidance
Ovid is focused on advancing its epilepsy pipeline, reducing operating expenditures, and pursuing disciplined business development transactions.
Positive Outlook
- Advancing a pipeline with novel mechanisms of action for epilepsy therapies.
- On track to initiate a clinical trial this year for OV329.
- Takeda is expected to present pivotal Phase 3 results on soticlestat in 2023.
- Organizational changes ensure a focused team and substantial cash runway.
- Exploring additional business development activities, including securing other compounds and out-licensing non-core programs.
Challenges Ahead
- Uncertainties inherent in the preclinical and clinical development and regulatory approval processes.
- Risks related to Ovid’s ability to achieve its financial objectives.
- The risk that Ovid may not be able to realize the intended benefits of its technology or its business strategy.
- Risks related to Ovid’s ability to identify acquisition targets or strategic partners, to enter into strategic transactions on favorable terms, or to consummate and realize the benefits of any strategic transactions or acquisitions
- Risks to Ovid's or any of its collaboration partners’ abilities to meet anticipated deadlines and milestones presented by the ongoing COVID-19 pandemic.