Ovid Therapeutics reports Q1 2024 net loss of $11.7M; cash $90.3M; Takeda Phase 3 soticlestat data expected by Sep 2024

Ovid Therapeutics Inc.

Net loss $11.7M ($0.17/share) vs $13.4M ($0.19) in Q1 2023; revenue $148K.
Cash $90.3M as of Mar 31, 2024; expected to fund operations into H1 2026.
Takeda completed Phase 3 trials for soticlestat in LGS and Dravet; topline data expected in H1 2024 fiscal year (by Sep 2024).
OV888 (GV101) Phase 1 MAD complete; no serious AEs; Phase 2 in CCM expected H2 2024.
Ovid retains 87% interest in soticlestat milestones (up to $660M) and tiered royalties up to 20%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ovid Therapeutics Inc. reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

Ovid Therapeutics Inc. (the "Company") issued a press release announcing Business Update, First Quarter 2024 Financial Results.

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Ovid Therapeutics Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-023064

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