Ovid Therapeutics reported third-quarter 2026 results alongside updates on its epilepsy-drug pipeline. The company is advancing OV329 in adult seizure studies and preparing to test a pediatric formulation in children with tuberous sclerosis complex, while its separate KCC2-activator program, OV4071, continues in early-stage testing.
The main near-term milestones are expected in early 2027, with a larger study of OV329 in treatment-resistant focal epilepsy scheduled to run into the second half of 2027. Ovid said it had $161.4 million in cash, cash equivalents and marketable securities at September 30, which it expects to fund operations into 2029.
Pipeline updates
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OV329 in focal epilepsy: Ovid is enrolling patients in a global, randomized, placebo-controlled Phase 2 study of OV329 in treatment-resistant focal epilepsy. The study is testing a 7-milligram dose and is designed with the rigor the company says could support future development and labeling across multiple seizure indications. Completion is anticipated in the second half of 2027.
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OV329 photosensitivity study: A separate study is enrolling patients to assess the drug’s anticonvulsant effect using a photosensitivity test. It is testing the 7-milligram dose and allows for additional doses above and below that level. Ovid expects topline results in the first quarter of 2027.
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Pediatric OV329 program: The company is developing a granule formulation for infants and children that can be dosed by weight and mixed into food or liquids. Ovid plans to begin a study in tuberous sclerosis complex-associated seizures before the end of 2026. It describes this as the first planned study in a broader potential program for developmental and epileptic encephalopathies, a group of severe seizure disorders.
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OV4071: The oral KCC2 direct activator remains in a Phase 1 study testing single and multiple ascending doses. Ovid said a translational ketamine-challenge study is ready to begin. The company expects early-2027 findings from programs that may help characterize KCC2 activation and OV329’s anticonvulsant profile.
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OV329’s potential uses: Ovid is studying the drug across adult and pediatric seizure disorders. Beyond focal epilepsy and tuberous sclerosis complex-associated seizures, the company has identified infantile spasms and other developmental and epileptic encephalopathies as possible areas of development. It said prior testing in healthy volunteers showed cortical inhibition comparable to therapeutic doses of vigabatrin, an established reference medicine.
Financial position
- Ovid had $161.4 million in cash, cash equivalents and marketable securities on September 30, 2026.
- The company expects that capital to provide a financial runway into 2029. The results announcement provided here does not include other quarterly financial figures.
What changes for investors
Ovid’s near-term development plan centers on clinical data from OV329 and OV4071, followed by a planned expansion of OV329 into pediatric seizures associated with tuberous sclerosis complex. The company’s stated cash runway extends beyond the currently identified clinical milestones; the announced study timelines and runway are expectations, not completed outcomes.