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Ovid Therapeutics Reports First Quarter 2022 Financial Results and Corporate Highlights
Ovid anticipates filing an investigational new drug application (IND) for OV329, a potent GABA aminotransferase inhibitor, and initiating Phase 1 trials in
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Ovid anticipates filing an investigational new drug application (IND) for OV329, a potent GABA aminotransferase inhibitor, and initiating Phase 1 trials in the fourth quarter of 2022Data supporting OV329 in rare and treatment-resistant epilepsies expected to be presented at the upcoming EILAT XVI and Epilepsy Foundation Pipeline conferencesEntered into an agreement with Tufts University under the direction of Professor Stephen Moss, a recognized leader in epilepsy research, to support advancement of the pipelineMulti-year cash and cash equivalents expected to support the progression of the current pipeline of differentiated epilepsy programs into 2025 NEW YORK, May 10, 2022 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines designed to conquer epilepsies and meaningfully improve the lives of people affected by brain disorders, today reported financial results and corporate highlights for the first quarter ended March 31, 2022. “Ovid is focused on propelling our pipeline of potential medicines with novel mechanisms of action for epilepsies and seizures,” said Jeremy M. Levin, D. Phil, MB BChir, Chairman and Chief Executive Officer of Ovid. “We are on track to submit an IND for OV329, a novel GABA aminotransferase inhibitor, for the treatment of epilepsies this year. With our strong balance sheet and experienced team, we believe we have the resources, focus and knowledge to drive our current programs forward and potentially augment them with additional candidates and technologies through business development.\" 2022 Corporate Highlights & Anticipated Milestones Ovid expects to file an IND for OV329 and initiate Phase 1 trials in the fourth quarter of 2022. OV329 is a potent GABA aminotransferase inhibitor being studied for the treatment of rare and treatment-resistant forms of epilepsy and seizures, such as tuberous sclerosis complex, infantile spasms and focal seizures.Data supporting the preclinical efficacy and safety profile of OV329 are expected to be presented at epilepsy research meetings in the second quarter of 2022. Ovid intends to present preclinical data on OV329 at the EILAT XVI Conference on New Antiepileptic Drugs and Devices in May and the Epilepsy Foundation Pipeline Conference in June.Ovid announced its focus on the therapeutic area of epilepsy...