For two years, Ovid spun a Phase II miss as a win. The drug just failed Phase III
Two years ago, Ovid’s lead program failed in Phase II. Or at least that’s what analysts said.
Jeremy Levin, the company’s CEO, argued investors misunderstood a study for a rare disease they were unfamiliar with, and that while the drug missed a bunch of measures, it hit on the one key endpoint Ovid was looking for. Investors said they struck the endpoint by dumb luck and would never reproduce the lone win in a larger study.
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