Ovid Therapeutics Q3 net loss widens as R&D spending rises
OVID•Ovid Therapeutics reported a third-quarter net loss of $20.78 million as research and development spending rose, and no revenue compared with $132,000 a year earlier. It ended the quarter with $161.4 million in cash and expects its cash runway to extend into 2029.
1. Quarterly results
Ovid Therapeutics reported a third-quarter net loss of $20.78 million and operating expenses of $22.36 million. Research and development expenses increased with higher preclinical and clinical activity for its OV329 and OV4071 programs. The company reported no revenue, compared with $132,000 a year earlier.
2. Cash and study outlook
Ovid ended the quarter with $161.4 million in cash and expects its runway to extend into 2029. It expects topline data from its Phase 2 OV329 epilepsy study in the second half of 2027 and results from an OV329 photosensitivity study in early 2027. Topline results from OV4071 Phase 1 and ketamine challenge studies are expected in the first quarter of 2027.
