OVID THERAPEUTICS INC

2024 was a challenging year for the biopharma industry, with companies like Bayer, Bristol Myers Squibb, and Johnson & Johnson cutting hundreds to thousands of jobs. Cassava Sciences announced layoffs of 10 employees, 33% of its workforce, following a failed Phase III trial for its Alzheimer's drug. CytomX Therapeutics cut 40% of its staff to focus on clinical programs. Velia, a San Diego biotech, is shutting down, affecting 47 employees. Regeneron's acquisition of Oxular led to layoffs, with no Oxular employees joining Regeneron. Javara, Ring Therapeutics, Outlook Therapeutics, Editas, Bavarian Nordic, BenevolentAI, Chroma Medicine and Nvelop Therapeutics, Cellectar Biosciences, Carisma Therapeutics, Belharra Therapeutics, National Resilience, AmplifyBio, Agenus, Alligator Bioscience, Idorsia Pharmaceuticals, Kronos Bio, Novartis, Recursion Therapeutics, Medigene, Alector, Bristol Myers Squibb, Sonata Therapeutics, 23andMe, Johnson & Johnson, Merck, Gilead Sciences, Adaptimmune, Sensei Biotherapeutics, Marinus Pharmaceuticals, Orna Therapeutics, Thermo Fisher Scientific, Charles River Laboratories, Aurinia Pharmaceuticals, Viracta Therapeutics, Astellas Gene Therapies, Sana Biotechnology, Sage Therapeutics, Compass Pathways, Spero Therapeutics, ICON, Pfizer, Takeda, SalioGen Therapeutics, Evonik, Medtronic, CareFusion Resources, Turnstone Biologics, Leo Pharma, Astellas Pharma, Prime Medicine, Kaléo, Stryker, Relay Therapeutics, ImmunityBio, Shattuck Labs, Inventprise, bluebird bio, Athira Pharma, AGC Biologics, Oncternal Therapeutics, Biosense Webster, Vesigen Therapeutics, Connect Biopharma, BioMarin, IN8bio, Edwards Lifesciences, DermTech, Repare Therapeutics, Genentech, Tome Biosciences, Aadi Bioscience, Lykos Therapeutics, Evotec, Galera Therapeutics, Grail, Ovid Therapeutics, Lexicon Pharmaceuticals, Acelyrin, Boundless Bio, FibroGen, Ajinomoto Bio-Pharma Services, AN2 Therapeutics, Entero Therapeutics, Precigen, Sumitomo Pharma America, uniQure, Vir Biotechnology, Arbutus Biopharma, HilleVax, and Bayer also announced significant layoffs, reflecting a tough year for the industry.

The 2024 Dravet Syndrome Global Clinical Trials Review is now available on ResearchAndMarkets.com, offering insights into clinical trials worldwide, including trial numbers, enrollment, and prominent drugs in progress.

10 biotech companies to watch in 2025: Anavex Life Sciences (blarcamesine for neurodegenerative diseases), Candid Therapeutics (T cell engager antibodies for autoimmune diseases), Enterprise Therapeutics (ETD001 for cystic fibrosis), Jazz Pharmaceuticals (Ziihera for biliary tract cancer), Life Biosciences (ER-100 for optic neuropathies), Ovid Therapeutics (OV888 for cerebral cavernous malformation), Skye Bioscience (nimacimab for obesity), TG Therapeutics (Briumvi for multiple sclerosis), Wave Life Sciences (WVE-006 for alpha-1 antitrypsin deficiency), and Quotient Therapeutics (somatic genomics platform for drug discovery).

Biotechnology Value Fund L P reduced its holdings in Ovid Therapeutics Inc by 668,233 shares to 3,853,818, maintaining a 5.40% position. The trade at $1.18 per share reflects strategic adjustments amidst Ovid's financial challenges and potential in the biotech sector.

Timmerman Report celebrates its 10th anniversary with events in Boston (Mar. 6) and Seattle (Mar. 13), featuring biotech leaders discussing future trends in biopharma.

DelveInsight's 'Epilepsy Pipeline Insight, 2024' report details 75+ companies developing 90+ therapies, including RLS103, CT-010, EQU 001, and others, with insights on mechanism of action, route of administration, and clinical trials. Key companies include Novartis, Pfizer, Sanofi, and Takeda, among others.

The U.S. House passed the BIOSECURE Act, banning U.S. biopharma companies from working with Chinese contractors due to national security concerns. This reflects shifting global biotech dominance, with immediate supply chain challenges and long-term implications. China’s biotech leadership, built over decades, contrasts with the West’s slow prioritization. The Act may encourage the U.S. and Europe to bring resources home, but short-term consequences for manufacturing, clinical trials, and IP are significant. A comprehensive “BIOBUILD” strategy is needed to maintain biotech leadership.