Core Insights - Ovid Therapeutics is at a pivotal moment with its pipeline advancing into the next stage of clinical development, particularly focusing on OV329 for treatment-resistant epilepsies and KCC2 activators [2][3] - The company has strengthened its leadership team with key appointments to enhance its regulatory and investor strategies [5][6] Business Strategy & Updates - Ovid anticipates its cash runway will support operations and clinical development into the second half of 2026, with several key milestones expected, including results for OV329 biomarker and safety data in Q3 2025 and initiation of a Phase 2a study in Q1 2026 [3][4] - The company is committed to fiscal discipline in managing clinical development programs and exploring partnerships to accelerate development and offset costs [4] Organizational Updates - Key appointments include Stelios Papadopoulos to the Board of Directors and Manal Morsy and Victoria Fort to the management team, aimed at supporting the company's pipeline and business strategies [5][6][7] - The Phase 1 study of OV329 is expected to yield topline results in Q3 2025, focusing on biomarkers that measure clinical effect and safety [5] Pipeline Strategy & Updates - Ovid is developing a differentiated pipeline targeting neurological and psychiatric disorders, including OV329 as a next-generation GABA-AT inhibitor for drug-resistant epilepsies [8][10] - The company is advancing its KCC2 direct activator library, with OV350 already in a first-in-human study and OV4071 expected to enter human trials in Q2 2026 [14] Financial Results - As of December 31, 2024, Ovid reported cash, cash equivalents, and marketable securities totaling $53.1 million, expected to support operations into the second half of 2026 [15][21] - The company reported a net loss of $26.4 million for the year ended December 31, 2024, an improvement from a net loss of $52.3 million in 2023 [16][20]