Brief: Ovid Therapeutics, Ligand Pharmaceuticals Enter Into $30 Mln Agreement For 13% Interest In Soticlestat Royalties and Milestones

Ligand Pharmaceuticals Incorporated

18/10/2023 13:21

Oct 18 (Reuters) - Ligand Pharmaceuticals Inc  LGND.O :
    * OVID THERAPEUTICS AND LIGAND PHARMACEUTICALS ENTER INTO A
$30
MILLION AGREEMENT FOR A 13% INTEREST IN SOTICLESTAT ROYALTIES
AND MILESTONES EXTENDING OVID’S CASH RUNWAY INTO 2026
    * LIGAND PHARMACEUTICALS INC - LIGAND WILL RECEIVE 13% OF
ALL
SOTICLESTAT ROYALTIES AND MILESTONE PAYMENTS OWED TO OVID
    * LIGAND PHARMACEUTICALS INC - PRIOR TO TRANSACTION , OVID'S
CASH
RUNWAY WAS EXPECTED TO LAST INTO 2025
    * LIGAND PHARMACEUTICALS INC - OVID ANTICIPATES CASH RUNWAY
TO
LAST INTO 2026 AND TO ENABLE EXPANSION OF ITS CLINICAL PROGRAMS
AFTER TRANSACTION

Source text for Eikon:  ID:nGNX4NFdG5 
Further company coverage:  LGND.O 

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