Ovid Therapeutics reports FY2022 net loss $54.2M; cash $129M; pipeline advancing

Ovid Therapeutics Inc.

Net loss for FY2022 $54.2M ($0.77 per share) vs net income $122.8M ($1.78) in 2021, driven by prior Takeda milestone.
Cash and equivalents $129.0M; expected to fund operations into first half of 2025.
OV329 Phase 1 trial on track; full data with biomarker efficacy proxy expected H1 2024.
Takeda reaffirms soticlestat regulatory filings in FY2024; Ovid eligible for up to $660M milestones plus royalties.
Added epileptologist Manoj Malhotra and co-inventor Toshiya Nishi to leadership in Q1 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Ovid Therapeutics Inc. reported the fourth quarter and full year ended December 31, 2022 results: revenue $46,280 for the fourth quarter and $1.5 million for the year ended December 31, 2022.

Period: the fourth quarter and full year ended December 31, 2022
Revenue: $46,280 for the fourth quarter and $1.5 million for the year ended December 31, 2022
Result: reported results

Exact text from the filing

Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with epilepsies and seizure-related disorders, today provided a business update and reported financial results for the fourth quarter and full year ended December 31, 2022.

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Ovid Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-007636

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