secwatch.observer — SEC 8-K summary
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Issuer:     Ovid Therapeutics Inc. (OVID)
CIK:        0001636651
Form:       8-K
Filed at:   2021-11-10T23:59:59+00:00
Accession:  0001193125-21-325375
Event type: earnings
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ovid Therapeutics reports Q3 2021 net loss of $11.4M, cash $201.8M, and business development strategy
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- Cash and equivalents $201.8M as of Sept 30, 2021; net loss $11.4M ($0.17 per share) vs $16.4M ($0.28) in Q3 2020.
- Revenue zero vs $6.9M in Q3 2020; R&D expenses down to $4.9M from $15.9M due to OV101 wind-down and soticlestat termination.
- Soticlestat Phase 3 trials for Lennox-Gastaut and Dravet enrolling; Ovid eligible for up to 20% royalties on global sales.
- Ovid plans to pursue business development for precision therapeutics; targets IND submission for OV329 in 2022.
- Kevin Fitzgerald, Ph.D., former Alnylam CSO, appointed to Board of Directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1636651/000119312521325375/0001193125-21-325375-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1636651/000119312521325375/d245103d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-325375

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer