Business
Ovid Therapeutics Reports Second Quarter 2021 Financial Results and Corporate Highlights
Company ends Q2 ’21 with cash and cash equivalents of $212.2 millionRecent appointments to Company leadership strongly position Ovid to advance current and
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Company ends Q2 ’21 with cash and cash equivalents of $212.2 millionRecent appointments to Company leadership strongly position Ovid to advance current and future neuroscience programsOvid is actively pursuing business development opportunities to complement its neuroscience pipeline NEW YORK, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with neurological diseases, today reported financial results for the quarter ended June 30, 2021. The Company also provided an overview of recently announced leadership appointments that will guide and execute its strategy. “The second quarter was extremely productive for Ovid. We appointed experts with deep neuroscience development and investment acumen to our board and advisory team. Coupled with our strong balance sheet and veteran leadership team, we are now poised to advance our current and future potential neuroscience programs,” said Jeremy M. Levin, D.Phil, MB BChir, Chairman and Chief Executive Officer of Ovid Therapeutics. Business Highlights Dr. Michael Poole, neuroscience innovator, joined the board of directors. Dr. Poole brings expertise from a 30-year career spanning neuroscience development and investment positions at Arch Ventures, Biomatics Capital, AstraZeneca, Pfizer, Wyeth and from serving in the Office of the President at The Bill and Melinda Gates Foundation, among others.Executive appointments deepen management capability of senior team. Ovid initiated planning and elevation of several executives, who will assume expanded roles. During the second quarter of 2021, Jeffrey Rona was elevated from his role as acting chief business officer to become the chief business and financial officer. After the second quarter, Jason Tardio was promoted to chief operating officer from his prior position as chief commercial officer and Dr. Claude Nicaise was elevated to head of Research and Development. Recognized life science thought leaders joined Ovid’s Scientific & Clinical Advisory Board. The Company appointed Joy Cavagnaro, Ph.D., and Bruce Sullenger, Ph.D., to its Scientific and Clinical Advisory Board, chaired by professor Robert Langer. Dr. Cavagnaro contributes extensive pre-clinical and regulatory acumen, and Dr. Sullenger provides deep translational resea...