Ovid Therapeutics reports Q3 EPS (20c), consensus (20c)

Reports Q3 revenue $173,000, consensus $90k. “The biopharmaceutical industry is entering an exciting new era of neurotherapeutics, and we are poised to address significant unmet needs in diseases of the central nervous system. Our innovative programs featuring differentiated mechanisms of action, such as GABA-aminotransferase inhibition, KCC2 direct activation, and ROCK2 inhibition, offer powerful approaches to address fundamental biological causes of neurological and neuropsychiatric conditions and symptoms,” said Dr. Jeremy Levin, D.Phil., MB BChir., Chairman and CEO of Ovid Therapeutics (OVID). “With a clear and disciplined capital strategy, we’re channeling our resources toward programs that we believe have the greatest potential to deliver meaningful clinical outcomes and pivotal milestones within our financial runway. This includes the proactive decision to pause the initiation of the Phase 2 program in CCM to incorporate fresh insights from recent competitor trials in an effort to strengthen the approach for this community.”