Ovid Reports $15M Q2 Loss, $169.8M Cash; OV329 Phase 2 Initiated
OVID has more than doubled off its 52-week low of $0.534.
Summary
Ovid Therapeutics reported Q2 2026 results with a $15.0M net loss and a strong cash position of $169.8M, extending its runway. The company is advancing multiple clinical programs: OV4071 (KCC2 activator) is progressing through Phase 1 with a ketamine challenge study planned for H2 2026 and Phase 2 in acute schizophrenia expected in 2027. OV329 (GABA-AT inhibitor) has initiated a Phase 2 study in treatment-resistant focal onset seizures, with completion anticipated in H2 2027, and a photosensitivity study with results expected near year end 2026. The recent transaction with Perceptive Advisors and Takeda provides potential future capital from soticlestat interests. This follows the July 8 executive leadership changes, including the appointment of Kevin Norrett as Chief Business and Financial Officer. The pipeline progress and cash runway are positive signals for a company with a market cap near $489M.
At the time of this announcement, OVID was trading at $2.67 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $489M. The 52-week trading range was $0.53 to $3.11. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.