Ovid shuf­fles C-suite, lays off staff in wake of PhI­II An­gel­man syn­drome fail

Fol­low­ing a Phase III flop and a culling of its pipeline, Ovid Ther­a­peu­tics is shak­ing things up again — this time at the C-suite lev­el.

Ovid CMO Amit Rakhit will leave his role in Au­gust and tran­si­tion to the sci­en­tif­ic and clin­i­cal ad­vi­so­ry board, the biotech an­nounced Thurs­day af­ter­noon. In ad­di­tion, Ovid has anoint­ed chief com­mer­cial of­fi­cer Ja­son Tar­dio as the new COO and el­e­vat­ed Claude Nicaise to head of R&D. The moves come amidst a larg­er work­force re­struc­tur­ing, as the New York, NY-based biotech has re­duced its staff by about 25% since March.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER