Ovid Therapeutics and Ligand Pharma Ink a $30M Deal for a 13% Interest in Soticlestat Royalties and Milestones Extending Ovid's Cash Runway into 2026
Portfolio Pulse from Benzinga Newsdesk
Ovid Therapeutics Inc. (OVID) and Ligand Pharmaceuticals Incorporated (LGND) have announced a deal in which Ligand acquires a 13% portion of the royalties and milestones related to the potential approval and commercialization of soticlestat. Ovid will receive a $30 million payment in return, extending its cash runway into 2026.
October 18, 2023 | 12:04 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ovid Therapeutics will receive a $30 million payment from Ligand Pharmaceuticals, extending its cash runway into 2026.
The $30 million payment from Ligand Pharmaceuticals will significantly extend Ovid's cash runway, providing the company with additional financial stability and potentially boosting investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ligand Pharmaceuticals has acquired a 13% portion of the royalties and milestones related to the potential approval and commercialization of soticlestat from Ovid Therapeutics.
While the acquisition of a 13% portion of the royalties and milestones related to soticlestat could potentially provide Ligand Pharmaceuticals with additional revenue in the future, the impact on the company's short-term stock price is uncertain as it depends on the potential approval and commercialization of soticlestat.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100