Ovid cuts its loss­es on con­tro­ver­sial An­gel­man syn­drome drug, mak­ing its crush­ing de­vel­op­ment halt per­ma­nent

Af­ter a tur­bu­lent cou­ple of years, Ovid is of­fi­cial­ly do­ing away with a pro­gram it had once cham­pi­oned in the face of heavy an­a­lyst skep­ti­cism.

Ovid has dis­con­tin­ued de­vel­op­ment of OV101, or gabox­adol, in An­gel­man syn­drome and will not pur­sue fur­ther clin­i­cal tri­als for Frag­ile X syn­drome, the com­pa­ny an­nounced Mon­day morn­ing. The news comes af­ter Ovid had pre­vi­ous­ly paused de­vel­op­ment in An­gel­man when the com­pound flunked a Phase III tri­al in De­cem­ber.

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