Ovid Therapeutics reduces workforce 20%, extends cash runway beyond 2024; OV329 on track for 2022 clinical entry

Ovid Therapeutics Inc.

Workforce reduced by ~20% to extend cash runway beyond 2024 as part of organizational restructuring.
OV329, a GABA aminotransferase inhibitor, expected to enter clinical trials in 2022 for tuberous sclerosis seizures.
Takeda to present pivotal Phase 3 soticlestat results in Dravet and Lennox-Gastaut syndromes in 2023.
Financial results for Q4/FY2021 reported but specific figures not provided in filing excerpt; focus on cost reduction.

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