Business
Ovid Therapeutics Reports Business Updates and First Quarter 2024 Financial Results
Takeda has completed two Phase 3 trials studying soticlestat as a treatment for Lennox-Gastaut syndrome and Dravet syndrome; topline data are anticipated in
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Takeda has completed two Phase 3 trials studying soticlestat as a treatment for Lennox-Gastaut syndrome and Dravet syndrome; topline data are anticipated in Takeda's H1 2024 fiscal yearA Phase 1, double-blind, multiple-ascending dose trial evaluating OV888 (GV101) is complete; topline safety data are expected in H1 2024Ovid expects to initiate a Phase 2 clinical program studying OV888 (GV101) in cerebral cavernous malformations in H2 2024Cash, cash equivalents and marketable securities were $90.3 million as of March 31, 2024; this capital is expected to support operations into H1 2026 NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company dedicated to meaningfully improving the lives of people affected by rare epilepsies and brain conditions, today reported business updates and financial results for the first quarter ended March 31, 2024. \"This is an exhilarating period for Ovid. Our innovative programs are progressing through clinical trials and moving closer to addressing the significant unmet needs of individuals with developmental and epileptic encephalopathies,\" stated Jeremy Levin, D.Phil, MB BChir., Chairman and CEO of Ovid Therapeutics. \"Takeda has recently completed two critical Phase 3 studies of soticlestat for Dravet syndrome and Lennox-Gastaut syndrome, and we are eagerly anticipating the outcomes as soticlestat could herald a new class of anti-seizure medication. Our license agreement with Takeda provides us with significant potential near- and longer-term financial resources.\" \"Furthermore, our collaboration with Graviton Bioscience has proven to be highly fruitful. We are on the brink of receiving the Phase 1 findings for our ROCK2 inhibition program and are planning to launch our Phase 2 study later this year, targeting cerebral cavernous malformations,\" Dr. Levin continued. Pipeline Updates Ovid pipeline programs are advancing on track. Multiple data and regulatory milestones are expected before year-end. These include: Soticlestat: Takeda has completed two pivotal Phase 3 trials studying soticlestat as a treatment for Lennox Gastaut syndrome (LGS) and Dravet syndrome (DS). Topline data for both trials are anticipated in Takeda's H1 2024 fiscal year (which is by or before September 2024). Takeda anticipates regulatory filings for soticlestat in its fi...