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Ovid Therapeutics Reports First Quarter 2020 Financial Results and Provides Corporate Update
Announced earlier today positive topline results from the Phase 2 ROCKET trial of OV101 for the treatment of Fragile X syndromePreviously reported encouraging
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Announced earlier today positive topline results from the Phase 2 ROCKET trial of OV101 for the treatment of Fragile X syndromePreviously reported encouraging initial results from Phase 2 ARCADE study in CDKL5 deficiency disorder and Dup15q syndromeTwo late-stage clinical readouts expected during the remainder of 2020: Phase 2 ELEKTRA trial in Dravet syndrome and Lennox-Gastaut syndrome and Pivotal Phase 3 NEPTUNE trial in Angelman syndrome NEW YORK, May 07, 2020 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today reported financial results for the first quarter ended March 31, 2020 and provided a corporate update. In addition, Ovid today provided an overview of the status of its clinical development programs in the context of the ongoing COVID-19 pandemic. \n “2020 remains an important and eventful year for the Company. The team at Ovid has continued to execute during these challenging times,” said Jeremy Levin, DPhil, MB, BChir, Chairman and Chief Executive Officer of Ovid Therapeutics. “Earlier this morning, we announced positive topline results from our Phase 2 Rocket trial in Fragile X syndrome. Additionally, in March, we reported encouraging initial data with soticlestat in CDKL5 deficiency disorder and Dup15q syndrome.” Dr. Levin continued, “Over the past few months, we have been closely monitoring the evolving impact of COVID-19 to our clinical studies. We have seen limited impact on our fully enrolled Phase 2 ELEKTRA trial in Dravet syndrome and Lennox-Gastaut syndrome and remain on track to announce topline data in the third quarter of 2020. However, the COVID-19 pandemic has resulted in mandated closures of clinical trial sites, and such closures have affected new enrollment in our ongoing Phase 3 NEPTUNE clinical trial in Angelman syndrome. Because interest in the study is very high and clinical sites are reopening, new patients are beginning to be screened. As such, we expect to report topline data from the pivotal Phase 3 NEPTUNE trial in the fourth quarter of 2020.” Amit Rakhit, M.D., MBA, President and Chief Medical Officer, added, “After ongoing dialogue with European regulatory authorities, we have decided to increase enrollment in the NEPTUNE study from 60 to 90 patient...