Ovid Therapeutics (OVID) Company presentation summary

Development strategy

• Focus on medicines for neural hyperexcitability, using targets with biological evidence, differentiated mechanisms and tailored medicinal chemistry.

• KCC2 activation is positioned to restore excitatory/inhibitory balance where GABA function is impaired; potential areas include psychosis, cognition, neurodevelopmental conditions and pain.

OV329 epilepsy program

• OV329 is a next-generation GABA-AT inhibitor targeting drug-resistant focal epilepsy and developmental and epileptic encephalopathies, including TSC seizures and infantile spasms.

• Phase 2 focal epilepsy trial initiated, with data targeted for H2 2027; open-label photoparoxysmal response study initiated, with data targeted for Q1 2027.

• Phase 1 reported no treatment-related serious adverse events or treatment-related ophthalmic effects; 5 mg and 7 mg exposures were predicted to be anticonvulsant.

• Preclinical studies reported no detectable OV329 accumulation in the eye or retina, unlike vigabatrin; seizure activity reductions were reported across infantile-spasm, focal and other models.

• Estimated U.S. adult focal epilepsy opportunity exceeds $1B; pediatric developmental and epileptic encephalopathy opportunity exceeds $1.5B, with programs including TSC, infantile spasms, Lennox-Gastaut syndrome and CDKL5 deficiency disorder.

OV4071 KCC2 program

• OV4071 is an oral KCC2 direct activator; preclinical characterization cited 0.64 μM KCC2 activity, 20-fold potency in psychosis models versus OV350, and a 1:1 brain-to-plasma ratio in animals.

• Preclinical models reported dose-dependent effects on hyperlocomotion and striatal dopamine, restored social interaction, and benefits in working memory and task switching.

• Phase 1 in healthy volunteers is ongoing; ketamine challenge data and Phase 1 proof-of-mechanism data targeted for Q1 2027, with a schizophrenia Phase 2 study planned for 2027.

• A U.S. and EU5 peak revenue estimate of $6.8B in 2038 assumes 278K patients on therapy and premium pricing of $36K in the U.S. and $21.5K in the EU.