---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-053875"
form_type: "8-K"
ticker: "OVID"
cik: "0001636651"
company_name: "Ovid Therapeutics Inc."
filed_at: "2023-10-18T23:59:59+00:00"
generated_at: "2026-06-09T21:51:08.061630+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Ovid sells 13% of soticlestat royalties & milestones to Ligand for $30M; cash runway into 2026

## Summary
- Ligand pays Ovid $30M (non-dilutive) for 13% of soticlestat regulatory/commercial milestones and tiered royalties (low double-digits to 20%).
- Ovid retains 87% of soticlestat economic interest; Takeda funds all development and has no further obligations for Ovid.
- Cash runway extended into 2026 (from into 2025), enabling expansion of pipeline of rare epilepsy and anti-seizure programs.
- Soticlestat is in two pivotal Phase 3 trials for Lennox-Gastaut and Dravet syndromes; Takeda anticipates regulatory filings in FY2024.

## SEC filing metadata
- accession: 0000950170-23-053875
- form_type: 8-K
- ticker: OVID
- cik: 0001636651
- company_name: Ovid Therapeutics Inc.
- filed_at: 2023-10-18T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636651/000095017023053875/0000950170-23-053875-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636651/000095017023053875/ovid-20231017.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-053875
- JSON: https://secwatch.observer/filing/0000950170-23-053875.json
- Plain text: https://secwatch.observer/filing/0000950170-23-053875.txt

## Key facts
- Material Agreements
  Ovid Therapeutics Inc. entered into Purchase Agreement with Ligand Pharmaceuticals Incorporated valued at $30 million (effective 2023-10-17).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Ligand Pharmaceuticals Incorporated
  - Value: $30 million
  - Effective: 2023-10-17
  source text: On October 17, 2023, Ovid Therapeutics Inc. (the “Company”) entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Ligand Pharmaceuticals Incorporated (“Ligand”) for the sale to Ligand of the following (the “Purchased Assets”):
  evidence_url: https://www.sec.gov/Archives/edgar/data/1636651/000095017023053875/0000950170-23-053875-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.