Core Insights - Ovid Therapeutics Inc. announced a CEO succession plan with Meg Alexander set to become CEO on January 1, 2026, while Dr. Jeremy M. Levin transitions to Executive Chairman [1][2][3] - The company reported third-quarter financial results and provided updates on its clinical pipeline, highlighting progress in its drug development programs [1][4][11] Leadership Transition - Meg Alexander has been with Ovid since 2021 and has played a key role in developing the company's pipeline and overseeing operations [2] - Dr. Levin expressed confidence in Alexander's leadership and emphasized the importance of continuity during the transition [3] Pipeline and Clinical Updates - Ovid's OV329, a next-generation GABA-aminotransferase inhibitor, is advancing to Phase 2 patient studies following positive Phase 1 results, demonstrating strong inhibitory activity [4][5][8] - The KCC2 direct activator portfolio is progressing, with OV350 expected to report first-in-human data in Q4 2025 and OV4071 anticipated to enter clinical trials in Q2 2026 [5][9][10] Financial Performance - For Q3 2025, Ovid reported total revenue of $132,000, a decrease from $173,000 in Q3 2024 [15] - Research and development expenses were $5.9 million, down from $7.9 million in the same period last year, while general and administrative expenses increased to $6.8 million from $5.5 million [15] - The net loss for Q3 2025 was $12.2 million, compared to a net loss of $14.0 million in Q3 2024, with a basic and diluted net loss per share of $0.17 [15][19] Funding and Financial Strategy - Ovid completed a private placement of up to $175 million, with an initial closing of approximately $81 million, expected to extend its cash runway into the second half of 2028 [5][11] - As of September 30, 2025, Ovid had $25.6 million in cash, cash equivalents, and marketable securities [15][21]

Core Insights - Ovid Therapeutics Inc. announced positive topline results from its Phase 1 study of OV329, a next-generation GABA-aminotransferase inhibitor aimed at treating drug-resistant epilepsies, demonstrating a favorable safety and tolerability profile [1][2][6] Trial Design - The Phase 1 trial involved 68 healthy volunteers, with 51 receiving active treatment and 17 receiving placebo, testing doses from 1 mg to 5 mg [3] - Safety, tolerability, pharmacokinetic, and pharmacodynamic activities were assessed, including rigorous ophthalmic evaluations and extensive exploratory biomarker analyses [3][4] Biomarker and Efficacy Results - OV329 showed significant GABAergic inhibition, with a 53% increase in inhibition at the 5 mg dose as measured on the abductor pollicis brevis muscle [8] - The study confirmed OV329's ability to penetrate the brain and engage its target, achieving biological modulation consistent with elevated GABA levels [4][8] - After 7 days of dosing at 5 mg, mean GABA levels increased by 7.13% in the medial parietal lobe compared to 0.24% in placebo [8] Safety and Tolerability - The safety profile of OV329 was favorable, with all treatment-related adverse events reported as mild and transient, and no evidence of ophthalmic or retinal changes observed [6][9] - Extensive ophthalmic tests showed no adverse effects, contrasting with existing treatments like vigabatrin, which can accumulate in the retina [6] Future Development Plans - Ovid plans to advance OV329 into a Phase 2a study for drug-resistant focal onset seizures, expected to start in Q2 2026 [10] - The company is also progressing its KCC2 direct activator portfolio, with several regulatory and clinical milestones anticipated in the next 12 months [10][11]

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]