OVID — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-12

• We are a biopharmaceutical company dedicated to pioneering better, gentler medicines for the brain. Our company discovers and develops differentiated small molecule medicines for neurological and neuropsychiatric disorders with significant unmet need. Our approach to achieve this goal is scientifica…

• Our team has significant experience with and understanding of epilepsies and other neurological conditions, and we continue to gain insight into the ways the different molecular mechanisms and pathways underlying these disorders impact the symptoms patients experience. We have developed a differenti…

• Since our inception in April 2014, we have devoted substantially all of our efforts to business development, research and development, recruiting management and technical staff, and raising capital. Our major sources of cash have been licensing revenue, proceeds from various public and private offer…

• We expect to incur significant expenses and operating losses for at least the next several years. We are highly dependent on our ability to find additional sources of funding through either equity offerings, debt financings, collaborations, strategic alliances, licensing agreements or a combination …

• In October 2025, we entered into a Securities Purchase Agreement with the purchasers named therein (the “2025 Investors”), which included Series A warrants (the “Series A Warrants”) to purchase up to 38,481,325 shares of our common stock, par value $0.001 per share, and/or pre-funded warrants to pur…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• We are a biopharmaceutical company dedicated to developing small molecule medicines for brain conditions with significant unmet need. Our approach to achieve this goal is scientifically driven, patient focused, and coupled with an integrated and disciplined approach to research, clinical development…

• Since our inception in April 2014, we have devoted substantially all of our efforts to organizing and planning our business, building our management and technical team, acquiring and developing assets and raising capital. During the three and nine month periods ended September 30, 2025, we recorded …

• We expect to continue to incur significant expenses and operating losses for at least the next several years. Our net losses may fluctuate significantly from period to period, depending on the timing of our planned clinical trials and expenditures on our other research and development and commercial…

• On October 2, 2025, we entered into a Securities Purchase Agreement with the purchasers named therein (the “Investors”), pursuant to which we agreed to issue and sell an aggregate of (i) 57,722 shares of our Series B convertible preferred stock, par value $0.001 per share (the “Series B Preferred St…

• The Private Placement may result in gross proceeds of up to $175.1 million to us, which includes the initial gross proceeds of $80.8 million, before estimated placement agent fees and offering expenses, or $75.7 million in estimated net proceeds received at closing.

Text added vs the prior filing · source: 10-Q · 2026-05-12

• The primary objectives of our investment activities are to ensure liquidity and to preserve capital. As of March 31, 2026, we had cash, cash equivalents and marketable securities totaling $165.6 million. Our primary exposure to market risk is interest rate sensitivity, which is affected by changes i…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• The primary objectives of our investment activities are to ensure liquidity and to preserve capital. As of September 30, 2025, we had cash, cash equivalents and marketable securities totaling $25.6 million. Our primary exposure

• to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S. interest rates. Due to the short-term maturities of our cash equivalents and marketable securities and the low risk profile of our investments, an immediate 100 basis point change in interest rates…

Text added vs the prior filing · source: 10-Q · 2026-05-12

• and outcome of our ongoing and anticipated clinical trials are highly uncertain, we cannot reasonably estimate the actual amount of resources and funding that will be necessary to successfully complete the development and commercialization of any product candidate we develop.

• Even if we obtain approval from the FDA and comparable foreign regulatory authorities for our current and future drug candidates, any approval might contain significant limitations related to use restrictions for specified age groups, warnings, precautions or contraindications, or may be subject to …

• A key element of our current strategy is to discover, develop and potentially commercialize a portfolio of drug candidates to treat certain brain disorders with significant unmet need. However, our business development activities and

• research activities may present attractive opportunities outside of our current areas of focus and we may choose to pursue drug candidates in other areas of interest including other disorders that we believe would be in the best interest of the Company and our stockholders. We plan to continuously r…

• We focus our research and drug development on treatments for brain disorders with significant unmet need. This specifically includes medicines to treat symptoms of excess neuronal excitation such as seizures and psychoses that manifest in specific epilepsies, psychiatric, neurodegenerative and neuro…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• •If we fail to satisfy all applicable requirements of Nasdaq and it determines to delist our common stock, the delisting could adversely affect the market liquidity of our common stock and the market price of our common stock could decrease.

• Our ability to raise capital may be limited by applicable laws and regulations.

• Using a shelf registration statement on Form S-3 to raise additional capital generally takes less time and is less expensive than other means, such as conducting an offering under a Form S-1 registration statement. However, our ability to raise capital using a shelf registration statement may be lim…

• Even if we obtain approval from the FDA and comparable foreign regulatory authorities for our current and future drug candidates, any approval might contain significant limitations related to use restrictions for specified age groups, warnings, precautions or contraindications, or may be subject to …

• be able to obtain sufficient funding or generate sufficient revenue to continue the development of that drug candidate or any other drug candidate that we may in-license, develop or acquire in the future. In certain circumstances, our third-party licensees or collaborators are responsible for obtain…