Ovid Therapeutics (US:OVID) Globenewswireยท2025-08-13 12:00Core Insights - Ovid Therapeutics Inc. reported business updates and financial results for Q2 2025, highlighting advancements in its drug pipeline and financial performance [1][19]. Pipeline and Business Updates - The company is advancing its pipeline with key readouts expected soon, including Phase 1 data for OV329, a potential treatment for conditions driven by excess neuronal excitation [2][3]. - OV329 is designed to be a safer GABA-aminotransferase inhibitor, aiming to replace vigabatrin, which has serious safety concerns [4][5]. - The Phase 1 study for OV329 is on track for topline results in late Q3 2025, with plans for a Phase 2a trial in adults with treatment-resistant focal onset seizures [9][16]. - Ovid is also progressing its KCC2 direct activator programs, with OV350's safety data expected in Q4 2025 and OV4071's first-in-human studies anticipated in early 2026 [10][11][12]. Financial Performance - As of June 30, 2025, Ovid had cash, cash equivalents, and marketable securities totaling $38.3 million, expected to support operations into early H2 2026 [7][22]. - Revenue from royalty agreements increased to $6.3 million in Q2 2025, compared to $169,000 in the same period of 2024 [22]. - Research and development expenses decreased to $6.5 million in Q2 2025 from $12.6 million in Q2 2024, reflecting organizational restructuring [22]. - The company reported a net loss of $4.7 million for Q2 2025, compared to a net income of $8.5 million in Q2 2024 [22]. Strategic Developments - Ovid entered a $7.0 million agreement with Immedica Pharma AB to monetize ganaxolone royalties, strengthening its balance sheet and extending its operational runway [14][15]. - The company plans to explore strategic options to accelerate development and offset costs, including partnerships and monetizing intellectual property [17][18].