Ovid Therapeutics Inc
NASDAQ:OVID
Ovid Therapeutics Inc
Ovid Therapeutics, Inc. is a biopharmaceutical company, which engages in the development of medicines for patients and families living with rare neurological disorders. The company is headquartered in New York City, New York and currently employs 44 full-time employees. The company went IPO on 2017-05-05. The firm is focused on developing medicines for patients and families living with epilepsies, seizure-related disorders and neurological disorders. The Company’s programs include OV329 (GABA aminotransferase inhibitor), OV350, OV882, and OV815 and OV825. OV329 (GABA aminotransferase inhibitor) is a next-generation GABA aminotransferase inhibitor being developed for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms. OV329 functions by substantially reducing the activity of GABA aminotransferase (GABA-AT), a key enzyme responsible for the degradation of the brain’s major inhibitory neurotransmitter, GABA. OV350 is a small molecule that directly activates the KCC2 transporter, which is an important channel in seizure control. OV882, which is a short hairpin RNA (shRNA-551) for Angelman syndrome. OV815, which is a genetic therapy approach for KIF1A-associated neurological disorders.
Ovid Therapeutics, Inc. is a biopharmaceutical company, which engages in the development of medicines for patients and families living with rare neurological disorders. The company is headquartered in New York City, New York and currently employs 44 full-time employees. The company went IPO on 2017-05-05. The firm is focused on developing medicines for patients and families living with epilepsies, seizure-related disorders and neurological disorders. The Company’s programs include OV329 (GABA aminotransferase inhibitor), OV350, OV882, and OV815 and OV825. OV329 (GABA aminotransferase inhibitor) is a next-generation GABA aminotransferase inhibitor being developed for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms. OV329 functions by substantially reducing the activity of GABA aminotransferase (GABA-AT), a key enzyme responsible for the degradation of the brain’s major inhibitory neurotransmitter, GABA. OV350 is a small molecule that directly activates the KCC2 transporter, which is an important channel in seizure control. OV882, which is a short hairpin RNA (shRNA-551) for Angelman syndrome. OV815, which is a genetic therapy approach for KIF1A-associated neurological disorders.
Progress in 2017: Ovid made major strides across clinical development, regulatory achievements, and business development, including an oversubscribed IPO and significant partnering with Takeda.
Clinical Trials: The Phase II STARS trial for OV101 in Angelman syndrome finished enrollment (overenrolled with strong demand from adolescents), with top-line data expected in Q3 2018.
Pipeline Expansion: Ovid plans to begin a Phase II trial (Rocket Study) of OV101 in adolescents with Fragile X syndrome in 2018, and advance OV935 in rare developmental and epileptic encephalopathies (dEE) with data expected in H2 2018.
Financial Position: Ovid ended 2017 with $87 million in cash, which management states is enough for at least 12 months and covers upcoming key proof-of-concept readouts.
Regulatory Milestones: OV101 received FDA Fast Track designations for both Angelman and Fragile X syndromes; OV935 earned orphan drug designations for Dravet and Lennox-Gastaut syndromes.
Upcoming Milestones: Multiple data readouts and 11 poster presentations (including new baseline data) are expected at the American Academy of Neurology meeting and later in 2018.
