Ovid Therapeutics reports Q1 EPS (14c), consensus (13c)

Reports Q1 revenue $130,000, consensus $25,000. “We’re off to a strong start across our pipeline and programs in what will be a defining year for Ovid,” said Dr. Jeremy Levin, D.Phil., MB BChir., Chairman and CEO of Ovid Therapeutics (OVID). “Our lead program, OV329, continues to show promise as a potential next-generation medicine for treatment resistant seizures, and we are on track to share key safety and biomarker data later this year. We’ve also initiated human trials of our first-in-class KCC2 direct activator-a long-sought biological target in central nervous system drug development because it is considered to be a “master switch” on neural hyperexcitability. We are excited for these readouts and anticipate that OV4071, our first oral KCC2 direct activator, will be submitted to initiate clinical development by year end.”