Ovid Therapeutics expects cash to provide runway into 2026

Ovid anticipates its cash runway should fund operations and its clinical development programs into 2026, after expected de-risking milestones for its current pipeline programs and following anticipated clinical results for soticlestat from Takeda. To support this strategy, management has executed several steps, including: received $30 million, non-dilutive capital infusion from Ligand in exchange for a minority interest in soticlestat’s potential future milestone payments and royalties owed to Ovid; directing its resources toward anticipated high-value R&D activities, and seeking development collaborations for its novel molecules outside of Ovid’s core areas and geographies of focus. Not reflected in its current runway guidance, Ovid retains eighty-seven percent of its interest in soticlestat’s future milestones and royalties, which may provide significant additional non-dilutive capital to further fuel the Company and its pipeline.