Business
Ovid Therapeutics Reports Second Quarter 2023 Financial Results and Corporate Updates
Completed single ascending dose (SAD) portion of Phase 1 trial evaluating OV329, a potential next-generation GABA-aminotransferase inhibitor Executed equity
About this update from Ovid Therapeutics Inc.
[{"type":"text","content":"Completed single ascending dose (SAD) portion of Phase 1 trial evaluating OV329, a potential next-generation GABA-aminotransferase inhibitor Executed equity investment and initiated collaboration with Graviton Bioscience to develop highly selective ROCK2 inhibitors for rare neurological conditionsExpanded scientific leadership team with appointments of Chief Scientific Officer and Chief Medical Officer Regulatory filings for soticlestat in Lennox-Gastaut syndrome and Dravet syndrome continue to be anticipated by Takeda in its fiscal year 2024 NEW YORK, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare epilepsies and seizure-related disorders, today reported business updates and financial results for the second quarter ended June 30, 2023. “In the second quarter, we accomplished a strategic milestone for Ovid. We added a novel clinical stage program and a library of potential first-in-class and best-in-class ROCK2 inhibitors to our pipeline through an exclusive license and collaboration agreement with Graviton. We believe these ROCK2 inhibitor programs add an important therapeutic platform to our pipeline and may address the underlying causes of several neurological disorders,” said Dr. Jeremy Levin, D. Phil, MB BChir, Chairman and CEO of Ovid. “Both the ROCK2 inhibitor and KCC2 activator portfolios are platforms that we believe can become the foundation for multiple future medicines in epilepsies, seizure-related disorders and other brain diseases. Our experienced team, under the leadership of Drs. Zhong Zhong and Manoj Malhotra, as our respective Chief Scientific and Chief Medical Officers, is focused on advancing compounds with these unique mechanisms of action for seizure-related disorders. Additionally, we are investigating further indications and intend to seek development partnerships to explore the full potential of our compounds and platforms.\" Clinical & Research Pipeline Updates OV329, a potential next generation GABA-aminotransferase (GABA-AT) inhibitor, has completed the SAD portion of a Phase 1 trial. The Company has seen no safety signals in the single ascending dose cohorts in healthy human volunteers. Ovid anticipates full Phase 1 findings in the first half of 2024, including biomarke...