Ovid Therapeutics Reveals Promising Pre-Clinical Outcomes for OV329: Absence of Accumulation in Animal Retinas Contrasts with Vigabatrin’
NEW YORK, Sept. 26, 2024’ - Ovid Therapeutics Inc. (NASDAQ: OVID), a biopharmaceutical company committed to enhancing the lives of individuals afflicted by rare epilepsies and brain disorders, has unveiled the results of a pivotal pre-clinical study. This study investigated whether OV329, a GABA-aminotransferase (GABA-AT) inhibitor, accumulates in the mouse retina and brain, comparing its profile with vigabatrin (VGB), the sole FDA-approved GABA-AT inhibitor.
The head-to-head study revealed a significant distinction: OV329 did not exhibit the accumulation in the retinas of experimental animals, a known issue associated with vigabatrin. This finding could herald a safer therapeutic profile for OV329, especially concerning the ocular toxicities linked to vigabatrin.
“We are thrilled with these early indications that OV329 may present a lower risk of retinal accumulation compared to vigabatrin,” stated Jeremy M. Levin, Chairman and CEO of Ovid Therapeutics. “This aligns with our mission to develop treatments that not only address the neurological conditions but also enhance the overall quality of life for our patients.”
This promising pre-clinical outcome stands in sharp contrast to some of the financial challenges faced by the company. Ovid Therapeutics recorded a cumulative net loss of $30 million over the twelve months ending in the second quarter of 2024, translating to a negative return on investment (ROI) of -25.02%. Within the healthcare sector, 232 companies posted a higher ROI. However, Ovid’s overall ROI ranking improved significantly, advancing to the 2432nd position from the 2998th in the first quarter of 2024.
While the financial metrics highlight the hurdles the company faces, the pre-clinical success of OV329 injects a sense of promise and potential future stability.
“Our ongoing research and unwavering dedication to addressing rare epilepsies and brain conditions continue to be our driving force, Levin added. We are optimistic about the future prospects of OV329 and our pipeline overall, which may eventually contribute to reversing our financial trajectory.”
Ovid Therapeutics’ commitment to innovation and patient-centric development keeps the hope alive for new breakthroughs in the treatment of rare neurological disorders.
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