Earnings ·
Ovid secures up to $294.5M from Perceptive Advisors for soticlestat, reports Q2 loss of $15.0M
OVIDOvid Therapeutics Inc.
Ovid Therapeutics Inc. reported second quarter 2026 financial results and business updates on August 13, 2026. The company reported a net loss of $15.0 million, or $0.08 per share, compared to a $4.7 million loss in the prior year period. Cash, cash equivalents, and marketable securities totaled $169.8 million as of June 30, 2026, providing an expected financial runway into 2029. Pipeline updates include advancing OV4071 through Phase 1 studies for schizophrenia and initiating Phase 2 proof-of-concept studies for the GABA-AT inhibitor OV329 in treatment-resistant focal onset seizures. Additionally, Ovid secured equity and potential milestone payments totaling up to $294.5 million from a new company formed by Perceptive Advisors to commercialize soticlestat. The executive team was strengthened with appointments of Kevin Norrett as Chief Business Officer and Eliseo Salinas, MD, as Executive R&D Advisor. Ovid Therapeutics Inc. is a biopharmaceutical company developing small molecule medicines for neurological and neuropsychiatric disorders.