Ovid Therapeutics Doses KCC2 Activator, Raises $60M PIPE, $53.9M Warrants, Ends Q1 with $165.6M
OVID•Ovid Therapeutics initiated Phase 1 dosing of oral KCC2 activator OV4071 in May and reported OV329 cohorts showed favorable safety and PK supporting planned Phase 2. The company raised $60 million in March PIPE financing, generated $53.9 million from warrant exercises and ended Q1 with $165.6 million in cash equivalents.
1. Q1 Financial Results and Balance Sheet
Ovid raised $60.0 million in March PIPE financing and generated $53.9 million from full exercise of Series A warrants, ending the quarter with $165.6 million in cash equivalents and marketable securities as of March 31, 2026.
2. Phase 1 Dosing of OV4071
In May 2026, Ovid dosed the first participant in its Phase 1 study of OV4071, the first-ever oral potassium-chloride cotransporter 2 (KCC2) direct activator, to evaluate safety, tolerability and pharmacodynamics in healthy volunteers.
3. OV329 Safety Profile and Expansion
OV329 demonstrated favorable safety, tolerability and pharmacokinetics at 7 mg and 9 mg doses in healthy volunteers, supporting planned Phase 2 proof-of-concept and randomized trials in treatment-resistant focal onset seizures, and expansion into TSC-associated seizures and infantile spasms with studies slated for Q4 2026 and 2027.
