Ovid Therapeutics, Inc.

Ovid adds $60M to study epilepsy drug in more indicationsSandoz, Samsung Bioepis expand biosimilar pactOvid adds $60M to study epilepsy drug in more indicationsOvid Therapeutics' stock jumped 14% on Wednesday after the company reported positive safety findings for OV329, a next-generation GABA-aminotransferase (GABA-AT) inhibitor being evaluated in a Phase I study for epilepsy. The results prompted the company to expand the candidate's development programme — and simultaneously raise the capital necessary for its broadened clinical plans. The biotech had previously reported biomarker data from the Phase I study showing that a 5-mg dose of OV329 increased GABAergic inhibition by 53% in one muscle group and 44.3% in another, as measured through transcranial magnetic stimulation. On Wednesday, Ovid said that in six patients who received a 7-mg dose of OV329, there were no treatment-related adverse events, supporting "a potential best-in-category profile." Ovid now plans to study OV329 in patients with tuberous sclerosis complex seizures and infantile spasms. To fund its clinical aspirations, the company on Wednesday priced a $60-million PIPE financing led by Point72. -Elizabeth EatonSandoz, Samsung Bioepis expand biosimilar pactSandoz is deepening its 2023 alliance with Samsung Bioepis with a new deal to develop and commercialise up to five biosimilars. The first programme, SB36, is currently in early-stage development as a biosimilar to Takeda's inflammatory bowel disease drug Entyvio (vedolizumab).Financial terms are being kept under wraps, but Samsung will handle development, regulatory filings in key markets and manufacturing, while Sandoz takes exclusive global commercialisation rights outside China, Hong Kong, Taiwan, Macau and the Republic of Korea.The agreement could increase Sandoz's biosimilar pipeline to as many as 32 assets. Earlier this month, the Novartis generics spinout said it was carving out a separate unit for its biosimilars business as it prepares for a wave of anticipated patent expirations over the next decade.-Anna Bratulic

The 7 mg dose of OV329 demonstrated favorable safety and tolerability profile, reinforcing best-in-category potential for refractory epilepsies; Ovid advancing plans to initiate a Phase 2 trial in focal onset seizures and an open-label, proof-of-concept study OV329的7毫克剂量展示了良好的安全性和耐受性，进一步巩固了其在难治性癫痫领域的最佳潜力；Ovid正在推进计划，启动针对局灶性发作癫痫的二期试验以及一项开放标签的概念验证研究。Expanding OV329 development to complementary indications in tuberous sclerosis complex seizures and infantile spasms, supported by a $60.0 million private placement 通过6000万美元的私人配售，将OV329的开发扩展到结节性硬化症癫痫发作和婴儿痉挛的相关适应症。OV4071, a first-in-class, oral KCC2 direct activator, received Human Research Ethics Committee approval and acknowledgement of its Clinical Trial Notification from the Australian Therapeutic Goods Administration, triggering a 30-day exercise period for the Company’s outstanding Series A Warrants OV4071，一种首创的口服KCC2直接激活剂，获得了人类研究伦理委员会的批准，并得到了澳大利亚治疗用品管理局对其临床试验通知的确认，从而触发了公司未偿还的A系列认股权证的30天行使期。Company to host KCC2-focused R&D Day on April 14, 2026 公司将于2026年4月14日举办聚焦KCC2的研发日活动$90.4 million in cash, cash equivalents and marketable securities as of December31, 2025, expected to fund key studies for OV329 and OV4071 and operations into late 2028; exercise of outstanding warrants may further extend runway into 2029 截至2025年12月31日，拥有9040万美元的现金、现金等价物和可出售证券，预计将为OV329和OV4071的关键研究以及持续到2028年底的运营提供资金；行使未清偿的认股权证可能会进一步将资金续航延长至2029年。Company to host business update call today at 8:30 am ET 公司将于东部时间今天上午8:30举办业务更新电话会议NEW YORK, March 18, 2026 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company developing small molecule medicines for brain disorders with significant unmet need, today provided pipeline progress and business updates, including financial results for the fourth quarter and full year ended December 31, 2025. 纽约，2026年3月18日（环球新闻社）-- Ovid Therapeutics Inc.（纳斯达克股票代码：OVID），一家致力于开发针对重大未满足需求的脑部疾病小分子药物的生物制药公司，今日提供了研发管线进展和业务更新，包括截至2025年12月31日的第四季度及全年财务业绩。The Company reported favorable topline safety, tolerability and pharmacokinetics (PK) findings from the 7 mg dose cohort of OV329, its next generation GABA-aminotransferase (GABA-AT) inhibitor. Additionally the Company announced it will add complementary development programs for OV329, expanding into tuberous sclerosis complex (TSC) seizures and infantile spasms (IS) which is funded by a private placement financing expected to result in gross proceeds of $60.0 million, before deducting placement agent fees and offering expenses.. 公司报告了其下一代GABA-氨基转移酶（GABA-AT）抑制剂OV329在7毫克剂量组的积极顶线安全性、耐受性和药代动力学（PK）结果。此外，公司宣布将增加OV329的互补开发项目，扩展至结节性硬化症（TSC）癫痫发作和婴儿痉挛（IS），该项目由私人配售融资提供资金支持，预计总收益为6000万美元，尚未扣除配售代理费用和发行开支。The Company will initiate a Phase 1 trial for OV4071, a potential first-in-class, oral, direct activator of potassium-chloride cotransporter 2 (KCC2) following Human Research Ethics Committee (HREC) approval of the Phase 1 study and Clinical Trial Notification (CTN) acknowledgement from the Australian Therapeutic Goods Administration (TGA).. 公司将在人类研究伦理委员会（HREC）批准1期研究并获得澳大利亚治疗用品管理局（TGA）的临床试验通知（CTN）确认后，启动OV4071的1期试验，该药物是一种潜在的首创、口服、直接激活钾氯共转运蛋白2（KCC2）的药物。“We are achieving important steps forward in our mission to pioneer better, gentler medicines for disorders of the brain. We believe today’s data continue to support OV329’s potential best-in-category profile and give us further conviction to expand OV329 into two complementary indications, tuberous sclerosis complex seizures and infantile spasms, for which GABA-AT inhibition is a validated mechanism of action. “我们在开创更有效、更温和的脑部疾病药物的使命中正在取得重要的进展。我们认为，今天的数据继续支持OV329潜在的同类最佳特性，并进一步坚定了我们将OV329扩展到两个互补适应症的信心，即结节性硬化症癫痫发作和婴儿痉挛症，对这些病症而言，GABA-AT抑制是一种已验证的作用机制。”Additionally, we are rapidly advancing OV4071 into the clinic to explore its broad therapeutic potential,” said Meg Alexander, President and Chief Executive Officer. “Together, these developments reflect the strength of our scientific approach to restoring the balance of excitation and inhibition in the brain. 此外，我们正在迅速将OV4071推进到临床阶段，以探索其广泛的治疗潜力，”总裁兼首席执行官Meg Alexander表示。“这些进展共同体现了我们科学方法的优势，旨在恢复大脑兴奋与抑制的平衡。Today’s plans will add to our growing cadence of near-term clinical milestones, and position Ovid to deliver meaningful progress for patients and value for stockholders over the months and years ahead.”. 如今的计划将加快我们在短期内实现临床里程碑的步伐，并使Ovid能够在未来数月乃至数年内为患者带来实质性的进展，为股东创造价值。PIPELINE AND BUSINESS UPDATES 管道和业务更新 OV329: New 7 mg cohort demonstrates favorable safety and tolerability profile; advancing into patient studies OV329：新的7毫克队列显示出良好的安全性和耐受性；正在推进患者研究Today, Ovid announced new results from a 7 mg dose cohort evaluating the safety and tolerability of OV329, a next-generation GABA-AT inhibitor being developed for drug-resistant epilepsies. Following the cortical inhibition and tolerability demonstrated by OV329 at 3 mg and 5 mg doses, Ovid conducted further characterization of a 7 mg cohort to inform dose selection for planned patient studies.. 今天，Ovid 公司宣布了来自 7 毫克剂量组的新结果，该组正在评估 OV329（一种正在开发用于治疗耐药性癫痫的下一代 GABA-AT 抑制剂）的安全性和耐受性。在 OV329 以 3 毫克和 5 毫克剂量展示了皮层抑制和耐受性后，Ovid 进一步对 7 毫克组进行了表征，以为计划中的患者研究提供剂量选择依据。The 7 mg Phase 1 study included both single ascending dose (SAD) and multiple ascending dose (MAD) cohorts, each consisting of six participants receiving OV329 and two participants receiving placebo. There were no treatment-related adverse events in the 7 mg cohort, and in a total of 19 unrelated adverse events, all were mild and transient. 7毫克的1期研究包括单次递增剂量（SAD）和多次递增剂量（MAD）队列，每个队列中有六名参与者接受OV329，两名参与者接受安慰剂。在7毫克队列中没有发生与治疗相关的不良事件，在总共19起无关的不良事件中，所有事件均为轻微且短暂。Across all doses tested, OV329 continues to demonstrate a favorable safety and tolerability profile in clinical studies, with no treatment-related serious adverse events observed. These findings continue to support a potential best-in-category profile.. 在所有测试剂量下，OV329 在临床研究中继续表现出良好的安全性和耐受性，未观察到与治疗相关的严重不良事件。这些发现继续支持其潜在的同类最佳特性。The 7 mg dose data builds upon previously reported, positive biomarker results associated with the 3 mg and 5 mg doses of OV329, which were presented at the 2025 American Epilepsy Society (AES) annual meeting in December 2025. At those doses, OV329 demonstrated strong, statistically significant cortical inhibition activity and increase in GABA as measured across multiple metrics. 7毫克剂量的数据建立在之前报告的与OV329的3毫克和5毫克剂量相关的积极生物标志物结果的基础上，这些结果于2025年12月在2025年美国癫痫学会（AES）年会上公布。在那些剂量下，OV329表现出强烈的、统计学上显著的皮层抑制活性，并且在多个指标测量中显示出GABA的增加。The cortical inhibition results associated with OV329 matched or exceeded those demonstrated by therapeutic doses of vigabatrin as measured in previous studies using the same methodology. Findings confirm OV329 penetrates the brain, engages the target, and achieves biological modulation as expected of elevated levels of GABA, the major inhibitory neurotransmitter.. OV329相关的皮质抑制结果与之前使用相同方法的研究中所示的治疗剂量的氨己烯酸（vigabatrin）相当或更高。研究结果证实，OV329能够穿透大脑，作用于目标，并实现预期的生物调节，即提高主要抑制性神经递质GABA的水平。Extensive ophthalmic assessments, including best corrected visual acuity, fundus photography, indirect dilated ophthalmoscopy, optical coherence tomography and automated threshold visual field perimetry, showed no evidence of ophthalmic or retinal changes associated with OV329. This result builds upon prior clinical and preclinical ophthalmic safety characterization studies which demonstrated OV329 enters and then rapidly clears the brain, plasma and tissue, whereas vigabatrin, a first-generation GABA-AT inhibitor, was shown to preferentially partition and accumulate in the retina.. 广泛的眼科评估，包括最佳矫正视力、眼底摄影、间接散瞳眼底镜检查、光学相干断层扫描和自动阈值视野周长测量，未发现与OV329相关的眼科或视网膜变化的证据。这一结果建立在先前的临床和临床前眼科安全性特征研究的基础上，这些研究表明OV329进入大脑、血浆和组织后迅速清除，而第一代GABA-AT抑制剂氨己烯酸（vigabatrin）则被证明优先分布并积累在视网膜中。Phase 2 dose confirmatory & open-label proof-of-concept study 第2阶段剂量确认和开放标签概念验证研究Ovid believes the drug exposure, PK, safety, and tolerability profile observed with the 5 mg and 7 mg doses of OV329 are supportive of further clinical development and provide dose optionality for planned Phase 2 proof-of-concept and dose confirmatory studies. Ovid plans to initiate an open-label photo paroxysmal response study to evaluate the anti-seizure effect of OV329. Ovid认为，OV329的5毫克和7毫克剂量所观察到的药物暴露、药代动力学（PK）、安全性及耐受性特征支持进一步的临床开发，并为计划中的二期概念验证和剂量确认研究提供了剂量选择性。Ovid计划启动一项开放标签的光阵发性反应研究，以评估OV329的抗癫痫发作效果。In parallel, the Company is advancing plans for a Phase 2 randomized, placebo-controlled trial, which is expected to evaluate two dose levels and determine seizure reduction efficacy in people living with treatment-resistant FOS. Ovid is engaged in regulatory conversations and currently anticipates initiating the Phase 2 study in the second quarter of 2026.. 同时，该公司正在推进一项二期随机、安慰剂对照试验的计划，预计该试验将评估两种剂量水平，并确定对治疗耐药的FOS患者的癫痫发作减少效果。Ovid正在进行监管对话，目前预计将于2026年第二季度启动二期研究。OV329: New complementary development programs expanding into TSC seizures and IS OV329：新开辟的补充开发项目，扩展至TSC癫痫和婴儿痉挛症（IS）Ovid also announced plans to expand development of OV329 in TSC-associated seizures and IS, two rare and severe epileptic disorders characterized by significant unmet medical need. 奥维德还宣布了扩大OV329在TSC相关癫痫发作和婴儿痉挛症（IS）中的开发计划，这两种罕见且严重的癫痫疾病具有显著未满足的医疗需求。GABA-AT inhibition is a clinically validated mechanism for the treatment of certain severe epilepsies, including TSC seizures and IS. The clinical utility of the first-generation GABA-AT inhibitor has been limited by safety concerns which constrain its broader use. Ovid believes OV329’s differentiated, next-generation profile may overcome these limitations, with the potential to unlock the full therapeutic benefit of GABA-AT inhibition for patients with severe pediatric epileptic disorders.. GABA-AT抑制是一种经过临床验证的机制，用于治疗某些严重的癫痫，包括TSC癫痫和婴儿痉挛症（IS）。第一代GABA-AT抑制剂的临床应用受到安全性问题的限制，从而制约了其更广泛的使用。Ovid公司认为，OV329的独特下一代特性有望克服这些局限性，为患有严重儿童癫痫疾病的患者充分释放GABA-AT抑制的治疗潜力。The Company is advancing a pediatric-specific formulation of OV329 amenable for infant and child use. For TSC-associated seizures, Ovid plans to initiate a proof-of-concept safety and signal-finding study in the fourth quarter of 2026 to evaluate OV329 in patients with TSC-associated seizures. In IS, the Company intends to initiate a safety and signal finding study in 2027.. 公司正在开发一种适用于婴儿和儿童使用的OV329儿科专用制剂。对于TSC相关癫痫发作，Ovid计划在2026年第四季度启动一项概念验证的安全性和信号探索研究，以评估OV329在TSC相关癫痫发作患者中的效果。在婴儿痉挛症（IS）方面，公司打算在2027年启动一项安全性和信号探索研究。These additive development programs are expected to proceed in parallel with the FOS program and may support an accelerated development pathway. 这些添加剂开发计划预计会与FOS计划并行进行，并可能支持一条加速的开发路径。KCC2 portfolio: First clinical validation achieved; approval received for oral lead candidate OV4071 to enter the clinic in Australia KCC2组合：首次临床验证已完成；口服先导候选药物OV4071已获准在澳大利亚进入临床试验阶段。Ovid is advancing a proprietary portfolio of potential first-in-class direct activators of the potassium-chloride cotransporter 2 (KCC2), a CNS-specific target that is essential for synaptic inhibition and implicated in a broad range of neurological and neuropsychiatric disorders. Direct activation of KCC2 represents a mechanism-based approach to restoring inhibitory tone in the brain by regulating the efflux of chloride from neurons and thereby, enabling GABA to be hyperpolarizing (inhibitory). Ovid正在推进一个专有的潜在首创钾氯共转运蛋白2（KCC2）直接激活剂组合，KCC2是一个中枢神经系统特异性靶点，对突触抑制至关重要，并与多种神经和神经精神疾病相关。直接激活KCC2代表了一种基于机制的方法，通过调节氯离子从神经元的外流来恢复大脑中的抑制张力，从而使GABA起到超极化（抑制性）作用。The Company is developing multiple molecules across the clinic and preclinic that have differentiated therapeutic profiles and formulations for potential conditions including psychoses, epilepsies, and neurodevelopmental and neurodegenerative disorders. The Company will be hosting an R&D Day dedicated to the KCC2 portfolio on April 14, 2026.. 公司正在临床和临床前开发多种分子，这些分子具有差异化的治疗特性和制剂，可能适用于精神病、癫痫、神经发育和神经退行性疾病等多种病症。公司将于2026年4月14日举办一个专注于KCC2产品组合的研发日。Key programs include: 关键项目包括：OV4071 (Oral KCC2 direct activator): OV4071（口服KCC2直接激活剂）： OV4071, Ovid’s lead oral direct activator intended for chronic conditions, is proceeding to a Phase 1 clinical study in the second quarter of 2026 following receipt of HREC approval and acknowledgment of Ovid’s CTN from the Australian TGA. OV4071 is initially focused on psychosis associated with Parkinson’s disease and Lewy body dementia, both areas of significant unmet need with limited treatment options and established regulatory pathways. OV4071 是 Ovid 公司主要的口服直接激活剂，用于慢性疾病治疗，将于 2026 年第二季度在获得人体研究伦理委员会（HREC）批准以及澳大利亚治疗用品管理局（TGA）对 Ovid 的临床试验通知（CTN）确认后，进入第一阶段临床研究。OV4071 最初专注于与帕金森病和路易体痴呆相关的精神病，这两个领域存在显著未满足的需求，治疗选择有限，并已建立明确的监管路径。As part of the clinical development plan, Ovid intends to conduct a ketamine challenge study in mid-2026 to further characterize potential pharmacodynamic effects and establish proof-of-mechanism. Ovid believes OV4071 also has therapeutic potential across additional neuropsychiatric disorders characterized by neural circuit dysfunction, including schizophrenia and psychosis associated with Alzheimer’s disease, supporting broader expansion opportunities.. 作为临床开发计划的一部分，Ovid计划在2026年年中进行一项氯胺酮挑战研究，以进一步表征潜在的药效学效应并确立机制证明。Ovid认为OV4071在其他以神经回路功能障碍为特征的神经精神疾病中也具有治疗潜力，包括阿尔茨海默病相关的精神分裂症和精神病，这为其提供了更广泛的扩展机会。OV350 (IV KCC2 direct activator): OV350（IV型KCC2直接激活剂）：In December 2025, Ovid reported positive Phase 1 results demonstrating the first-ever clinical validation of direct KCC2 activation in humans. OV350 had no treatment-related serious adverse events reported and its PK behaved as predicted. Exploratory electrophysiology suggested OV350 had GABAergic CNS activity consistent with expected PK and the anticipated mechanism of action. 2025年12月，Ovid公司报告了1期临床试验的积极结果，首次在人体中验证了直接激活KCC2的临床效果。OV350未报告与治疗相关的严重不良事件，其药代动力学（PK）表现与预测一致。探索性电生理学研究表明，OV350表现出与预期药代动力学和作用机制相符的GABA能中枢神经系统活性。These data support advancement of the Company’s oral KCC2 programs, including OV4071.. 这些数据支持公司推进其口服KCC2项目，包括OV4071。KCC2 portfolio expansion: KCC2 产品组合扩展：Ovid continues to advance additional oral and injectable KCC2 direct activators, including next-generation compounds, supporting a sustainable pipeline designed to unlock the full therapeutic potential of this novel mechanism across multiple indications. Ovid继续推进额外的口服和注射型KCC2直接激活剂，包括下一代化合物，以支持一个可持续的管线，旨在充分释放这种新型机制在多种适应症中的全部治疗潜力。BUSINESS STRATEGY AND UPDATES 商业策略与更新 The Company’s public announcement of HREC approval for OV4071 triggers a 30-day period for the exercise of the Company’s Series A Warrants to purchase up to 38,481,325 shares of the Company’s common stock and/or Pre-Funded Warrants to purchase common stock. Accordingly, the Series A Warrants will expire on April 17, 2026, if not exercised. 公司宣布获得HREC对OV4071的批准后，触发了行使公司A系列认股权证的30天期限，可购买多达38,481,325股公司普通股和/或预先注资的购买普通股的认股权证。因此，如果未行使，A系列认股权证将于2026年4月17日到期。If all Series A Warrants are exercised in full, the Company anticipates receiving up to an additional $53.9 million in gross proceeds, prior to deducting placement agent fees, potentially extending Ovid’s cash runway into 2029.. 如果所有 A 系列认股权证全部行使，公司预计在扣除配售代理费用之前，最多将额外获得 5390 万美元的毛收入，这可能会使 Ovid 的现金跑道延长至 2029 年。On March 17, 2026, the Company entered into a Securities Purchase Agreement, pursuant to which the Company agreed to issue and sell an aggregate of 19,154,321 shares of its common stock at a purchase price of $2.01 per share and, in lieu of common stock, pre-funded warrants to purchase up to 10,701,710 shares of common stock, at a purchase price of $2.009 for each pre-funded warrant (the Private Placement). 2026年3月17日，公司签订了一份证券购买协议，根据该协议，公司同意以每股2.01美元的价格发行并出售总计19,154,321股普通股，并且代替普通股，以每份预融资认股权证2.009美元的价格发行可购买多达10,701,710股普通股的预融资认股权证（私募配售）。The pre-funded warrants will have an exercise price of $0.001 per share and will be immediately exercisable.. 预融资权证的行权价格为每股0.001美元，并将立即可行权。The Company intends to use the proceeds from the Private Placement, together with its existing cash, cash equivalents and marketable securities to support the expansion of the development of OV329 into additional indications, including TSC and IS, alongside its ongoing development in FOS. 公司打算将私有配售所得款项与其现有的现金、现金等价物和可出售证券一起用于支持 OV329 开发扩展到更多的适应症，包括 TSC 和 IS，以及其在 FOS 中的持续开发。Multiple pipeline data and regulatory milestones are anticipated for Ovid’s OV329 epilepsy and KCC2 programs in the next 18 to 24 months. These anticipated milestones include: Phase 2 dose confirmatory study for OV329 in drug-resistant epilepsies (Q2 2026 start); initiation and completion of an open-label, patient proof-of-concept photo paroxysmal response study (Q3 2026 start), the potential initiation and completion of a proof-of-concept trial for the first oral KCC2 direct activator, OV4071 (Q2 2026 start); the initiation and results of a ketamine challenge study for OV4071 (mid-2026 start); and subsequently, the potential initiation and completion of Phase 1b studies for OV4071 in psychosis associated with Parkinson’s disease and Lewy body dementia, schizophrenia and other undisclosed indications.. 预计在未来18到24个月内，Ovid的OV329癫痫和KCC2项目将迎来多项管线数据和监管里程碑。这些预期的里程碑包括：OV329针对药物难治性癫痫的2期剂量确认研究（2026年第二季度启动）；开放标签、患者概念验证光阵发反应研究的启动与完成（2026年第三季度启动）；首个口服KCC2直接激活剂OV4071的概念验证试验的潜在启动与完成（2026年第二季度启动）；OV4071的氯胺酮挑战研究的启动与结果（2026年年中启动）；以及随后OV4071在帕金森病和路易体痴呆相关精神病、精神分裂症及其他未公开适应症中的1b期研究的潜在启动与完成。Fourth 第四Quarter and Annual 季度和年度2025 2025Financial Results 财务结果Cash, cash equivalents and marketable securities as of December31, 2025 totaled $90.4 million. 截至2025年12月31日，现金、现金等价物和可出售证券总计为9,040万美元。Revenue from royalty agreements was $0.7 million and $7.3 million for the three months and full year ended December31, 2025, as compared to $0.1 million and $0.6 million for the same periods in 2024. Revenue in 2025 comprised royalties on net sales and recognition of a one-time $7.0 million payment primarily related to future royalties, while 2024 revenue only consisted of royalties on net sales.. 截至2025年12月31日的三个月和全年，特许权协议收入分别为70万美元和730万美元，而2024年同期分别为10万美元和60万美元。2025年的收入包括净销售额的特许权使用费以及一次性的700万美元付款（主要与未来特许权相关），而2024年的收入仅包含净销售额的特许权使用费。Research and development expenses were $6.6 million and $25.6 million for the three months and full year ended December31, 2025, compared to $5.9 million and $36.8 million for the same periods in 2024. The increase between the three months ended December31, 2025 and the same period last year is primarily related to increased clinical study activity on the OV329 and KCC2 programs. 截至2025年12月31日的三个月和全年，研发费用分别为660万美元和2,560万美元，而2024年同期为590万美元和3,680万美元。截至2025年12月31日的三个月与去年同一时期相比的增长主要与OV329和KCC2项目临床研究活动的增加有关。The year-over-year decrease is related to restructuring in 2024 to re-prioritize clinical and preclinical pipeline programs.. 同比减少与2024年进行的重组有关，目的是重新优先安排临床和临床前管线项目。General and administrative expenses were $6.4 million and $24.1 million for the three months and full year ended December31, 2025, as compared to $4.9 million and $25.7 million for the same periods in 2024. The increase between the three-month periods was primarily due to non-routine investment advisory professional fees; the decrease year-over-year was driven by the organizational restructuring in mid-2024, offset by non-routing business development expenses and investment advisory professional fees.. 一般及行政开支截至2025年12月31日的三个月和全年分别为640万美元和2410万美元，而2024年同期为490万美元和2570万美元。三个月期间的增长主要由于非经常性投资顾问专业费用；而全年同比下降的原因是2024年年中进行的组织架构重组，部分被非例行业务发展开支和投资顾问专业费用所抵消。Total operating expenses were $13.0 million and $49.7 million for the three months and full year ended December31, 2025, as compared to $10.8 million and $62.5 million for the same periods in 2024. 截至2025年12月31日的三个月和全年，总运营费用分别为1,300万美元和4,970万美元，而2024年同期则分别为1,080万美元和6,250万美元。Ovid reported net income of $9.7 million, or basic and diluted net income per share attributable to common stockholders of $0.06, for the three months ended December31, 2025, as compared to a net loss of $9.3 million, or basic and diluted net loss per share attributable to common stockholders of $0.13, for the same period in 2024. 奥维德报告称，截至2025年12月31日的三个月内，公司净利润为970万美元，普通股股东应占基本和稀释每股收益为0.06美元，而2024年同期净亏损为930万美元，普通股股东应占基本和稀释每股亏损为0.13美元。Net income for the three months ended December31, 2025 was primarily due to a gain recorded on adjustment in fair value of a long-term equity investment of approximately $21.0 million. Ovid reported a net loss of $17.4 million, or basic and diluted net loss per share attributable to common stockholders of $0.23, for the year 2025, as compared to a net loss of $26.4 million, or basic and diluted net loss per share attributable to common stockholders of $0.37, for the same period in 2024.. 截至2025年12月31日的三个月内的净利润主要由于记录了约2100万美元的长期股权投资公允价值调整收益。Ovid报告称，2025年的净亏损为1740万美元，或归属于普通股股东的基本和稀释每股净亏损为0.23美元，而2024年同期的净亏损为2640万美元，或归属于普通股股东的基本和稀释每股净亏损为0.37美元。Business Update Call and Webcast 业务更新电话会议和网络直播 Ovid’s management team will host a business update call and live audio webcast at 8:30 am ET today, Wednesday, March18, 2026. 奥维德的管理团队将于今天，即2026年3月18日星期三东部时间上午8:30，举办业务更新电话会议和现场音频网络广播。A live audio webcast of the presentation can be accessed through the Events & Presentations section of Ovid’s website. Participants may register for the conference call 可以通过Ovid官网的“活动与演讲”部分访问演讲的实时音频网络直播。参会者可以注册参加电话会议。here 这里and are advised to do so at least 10 minutes prior to joining the call. A replay of the webcast will be archived on Ovid’s website for 90 days following the event. 并且建议至少在加入电话会议前10分钟这样做。网络广播的重播将在活动结束后在Ovid的网站上存档90天。About Ovid Therapeutics 关于Ovid TherapeuticsOvid Therapeutics Inc. is a New York-based biopharmaceutical company dedicated to developing small molecule medicines for brain disorders with significant unmet need. Ovid is advancing a pipeline of novel targeted small molecule candidates that modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability causative of multiple neurological and neuropsychiatric disorders. Ovid Therapeutics Inc. 是一家总部位于纽约的生物制药公司，致力于为存在显著未满足需求的脑部疾病开发小分子药物。Ovid 正在推进一系列新型靶向小分子候选药物的管线，这些药物可调节导致多种神经和神经精神疾病的神经元过度兴奋的内在和外在因素。Ovid is developing: OV329, a next-generation GABA-aminotransferase inhibitor, as a potential therapy for treatment-resistant focal onset seizures (FOS) and developmental and epileptic encephalopathies (DEEs), including tuberous sclerosis complex (TSC) and infantile spasms (IS); and OV4071 and others within a library of compounds that directly activate the KCC2 transporter, for multiple CNS disorders. Ovid公司正在开发：OV329，一种下一代GABA-氨基转移酶抑制剂，作为治疗难治性局灶性发作癫痫（FOS）和发育性及癫痫性脑病（DEEs），包括结节性硬化症（TSC）和婴儿痉挛症（IS）的潜在疗法；以及OV4071等属于直接激活KCC2转运蛋白的一系列化合物库中的药物，用于多种中枢神经系统疾病。For more information about these and other Ovid research programs, please visit . 有关这些和其他 Ovid 研究计划的更多信息，请访问 。www.ovidrx.com www.ovidrx.com. 。Forward-Looking Statements 前瞻性声明This press release includes certain disclosures by Ovid that contain “forward-looking statements” including, without limitation, statements regarding the reproducibility and durability of any favorable results initially seen to date in clinical trials; the potential therapeutic opportunity of OV329, OV4071 and other compounds from Ovid’s library of direct activators of KCC2; the expected timing of initiation, completion, and results and data of Ovid’s ongoing and planned clinical studies, including the Phase 1 trial of OV4071; Ovid’s expectations regarding the duration of its cash runway and the expectation that it will support Ovid’s operations and development programs; the potential use and development of OV329, OV4071 and other compounds from Ovid’s library of direct activators of KCC2; Ovid’s clinical pipeline strategy and plans for future clinical studies; the potential exercise of the warrants issued in the October 2025 private placement financing, and the aggregate proceeds payable to Ovid should all holders of Series A Warrants choose to exercise their warrants; the intended use of the proceeds from the Private Placement, including for the development of OV329 in additional indications including TSC and IS; and other statements that are not historical fact. 本新闻稿包含Ovid做出的某些披露信息，其中涉及“前瞻性声明”，包括但不限于以下方面的声明：迄今为止在临床试验中初步观察到的任何积极结果的可重复性和持久性；OV329、OV4071及Ovid的KCC2直接激活剂库中其他化合物的潜在治疗机会；Ovid正在进行和计划中的临床研究的预期启动时间、完成时间以及结果和数据，包括OV4071的1期试验；Ovid对其现金跑道持续时间的预期及其支持公司运营和开发计划的预期；OV329、OV4071及Ovid的KCC2直接激活剂库中其他化合物的潜在用途和开发；Ovid的临床管线战略及未来临床研究计划；2025年10月私募融资中发行的认股权证可能被行使的情况以及若所有A系列认股权证持有人选择行使其认股权证时应付给Ovid的总收益；私募所得款项的预期用途，包括用于开发OV329在更多适应症（如TSC和IS）中的应用；以及其他非历史事实的声明。You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plan,” “potentially,” and “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Forward-looking statements are based on Ovid’s current expectations and assumptions. 您可以识别前瞻性陈述，因为它们包含诸如“预期”、“相信”、“预计”、“打算”、“可能”、“计划”、“潜在地”和“将”等词语，以及类似表达（或其他引用未来事件、条件或情况的词语或表达）。前瞻性陈述基于Ovid当前的预期和假设。Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances tha. 由于前瞻性陈述与未来相关，它们会受到固有的不确定性、风险和环境变化的影响。Condensed Consolidated Statements of Operations 合并简明损益表Unaudited 未经审计的(in thousands, except share and per share data) （单位：千，每股和每股票据数据除外）For The Three 为了三个人Months Ended 截至月份December 31, 12月31日，2025 2025For The Three 为了三个人Months Ended 截至月份December 31, 12月31日，2024 2024For the Year 对于年度Ended 已结束December 31, 12月31日，2025 2025For the Year 对于年度Ended 已结束December 31, 12月31日，2024 2024Revenue: 收入：License and other revenue 许可证和其他收入$ $718 718$ $76 76$ $7,252 7,252$ $566 566Total revenue 总收入718 71876 767,252 7,252566 566Operating expenses: 营业费用：Research and development 研发6,589 6,5895,923 5,92325,582 25,58236,767 36,767General and administrative 一般及行政6,422 6,4224,878 4,87824,109 24,10925,684 25,684Total operating expenses 营业总费用13,011 13,01110,801 10,80149,691 49,69162,451 62,451Loss from operations 营业亏损(12,293 (12,293) )(10,725 （10,725) )(42,439 (42,439) )(61,885 （61,885）) )Other income (expense), net 其他收入（支出），净值21,957 21,9571,444 1,44425,026 25,02635,452 35,452Income (loss) before provision for income taxes 税前收入（损失）9,664 9,664(9,281 (9,281) )(17,414 (17,414) )(26,433 （26,433) )Provision for income taxes 所得税准备金— —— —— —— —Net income (loss) 净利润（亏损）$ $9,664 9,664$ $(9,281 (9,281) )$ $(17,414 (17,414) )$ $(26,433 (26,433) )Net income (loss) per share of common stock, basic and diluted 每股普通股的基本和稀释净收益（亏损）$ $0.06 0.06$ $(0.13 (0.13) )$ $(0.23 (0.23) )$ $(0.37 (0.37) )Weighted-average common stock shares outstanding, basic and diluted 加权平均流通在外普通股股数，基本和稀释81,671,581 81,671,58171,009,866 71,009,86673,735,606 73,735,60670,905,422 70,905,422Select Condensed Consolidated Balance Sheet Data 选择简明合并资产负债表数据Unaudited 未审计的(in thousands) （单位：千）December 31, 2025 2025年12月31日December 31, 2024 2024年12月31日Cash, cash equivalents and marketable securities 现金、现金等价物和可出售证券$ $90,447 90,447$ $53,075 53,075Working capital 营运资金(1) (1)66,080 66,08045,418 45,418Total assets 总资产150,934 150,93492,167 92,167Total stockholders’ equity 股东权益总额 130,660 130,66068,226 68,226(1) (1)Working capital defined as current assets less current liabilities 营运资本定义为流动资产减去流动负债。Contact 联系Investor Relations & Media 投资者关系与媒体Victoria Fort 维多利亚堡VFort@ovidrx.com VFort@ovidrx.com202.361.0445 202.361.0445Source: Ovid Therapeutics Inc. 来源：Ovid Therapeutics Inc.

Proceeds expected to support expansion of next-generation GABA-aminotransferase inhibitor, OV329, into tuberous sclerosis complex and infantile spasms Financing led by Point72 with participation from additional investors including Adage Capital Management, ADAR1 Capital Management, Affinity Asset Advisors, LLC, Ally Bridge Group, Balyasny Asset Management, Coastlands Capital, Eventide Asset Management, Janus Henderson Investors and RA Capital Management NEW YORK, March 18, 2026 (GLOBE NEWSWIRE) -- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company developing small molecule medicines for brain disorders with significant unmet need, today announced that it has entered into a securities purchase agreement for a private investment in public equity (“PIPE”) financing that is expected to result in gross proceeds of $60.0 million to the Company, before placement agent fees and offering expenses. The PIPE financing is expected to close on or about March 19, 2026, subject to satisfaction of customary closing conditions. The PIPE financing is being led by Point72 with participation from existing investors, including Adage Capital Management, ADAR1 Capital Management, Affinity Asset Advisors, LLC, Ally Bridge Group, Balyasny Asset Management, Coastlands Capital, Eventide Asset Management, Janus Henderson Investors and RA Capital Management. Pursuant to the terms of the securities purchase agreement, the Company is selling an aggregate of 19,154,321 shares of its common stock at a purchase price of $2.01 per share and, in lieu of common stock, pre-funded warrants to purchase up to 10,701,710 shares of common stock, at a purchase price $2.009 for each pre-funded warrant. The pre-funded warrants will have an exercise price of $0.001 per share and will be immediately exercisable. The Company intends to use the net proceeds from the PIPE financing, together with the Company’s existing cash, cash equivalents and marketable securities, to provide financing to support the expansion of the development of OV329 into additional indications, including tuberous sclerosis complex and infantile spasms, as well as for general research and development expenses. Leerink Partners is acting as lead placement agent for the PIPE financing. Oppenheimer & Co. and LifeSci Capital are acting as co-placement agents for the PIPE financing. The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. Concurrently with the execution of the securities purchase agreement, Ovid and the investors entered into a registration rights agreement pursuant to which the Company has agreed to registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock and/or the shares of common stock issuable upon exercise of each of the pre-funded warrants, in each case sold in the PIPE financing. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Ovid Therapeutics Ovid Therapeutics Inc. is a New York-based biopharmaceutical company dedicated to developing small molecule medicines for brain disorders with significant unmet need. Ovid is advancing a pipeline of novel targeted small molecule candidates that modulate the intrinsic and extrinsic factors involved in neuronal hyperexcitability causative of multiple neurological and neuropsychiatric disorders. Ovid is developing: OV329, a next-generation GABA-aminotransferase inhibitor, as a potential therapy for treatment-resistant focal onset seizures (FOS) and developmental and epileptic encephalopathies (DEEs), including tuberous sclerosis complex (TSC) and infantile spasms (IS); and OV4071 and others within a library of compounds that directly activate the KCC2 transporter, for multiple CNS disorders. Forward-Looking Statements This press release includes certain disclosures by Ovid that contain “forward-looking statements” including, without limitation: statements regarding the expected timing and completion of the PIPE financing, the intended use of the proceeds from the PIPE financing, including for the development of OV329 in additional indications including tuberous sclerosis complex and infantile spasms and other statements that are not historical fact. You can identify forward-looking statements because they contain words such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plan,” “potentially,” and “will,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances). Forward-looking statements are based on Ovid’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, uncertainties inherent in the preclinical and clinical development and regulatory approval processes, risks related to Ovid’s ability to achieve its financial objectives, the risk that Ovid may not be able to realize the intended benefits of its business strategy, and the holders of the warrants issued in the October 2025 private placement may choose not to exercise the warrants prior to their expiration and the price targets that would permit Ovid to require certain of the warrants to be exercised may not be achieved. Additional risks that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Ovid’s most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC, and in subsequent and future filings Ovid makes with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and Ovid assumes no obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law. Contact Investor Relations & Media Victoria Fort VFort@ovidrx.com 202.361.0445