With the third quarter officially at a close, Ovid Therapeutics and Metagenomi have released financial results from the quarter. Along with these reports came announcements of additional changes in leadership and business updates.

Ovid Therapeutics

Ovid Therapeutics has released a slew of announces, including a succession plan for the company’s current CEO Dr. Jeremy M. Levin.¹ Dr. Levin, who has served as Ovid’s Chairman and CEO since he co-founded the company, is expected to transition to Executive Chairman of the Board, while Ovid’s success plan will name Meg Alexander the role of CEOwhile also allowing her to join Ovid’s Board of Directors effective January 1, 2026.¹

“The Board’s unanimous decision to appoint Meg reflects her strong record of execution and leadership across Ovid’s operations and strategy,” said Bart Friedman, lead independent director and chair of the Nomination and Governance Committee of the Board of Directors. “With Jeremy continuing as Executive Chairman, this succession further strengthens Ovid’s leadership and expands the Company’s opportunities with strong continuity.”

Ovid also revealed its business plans and financial results, including updates on OV329, the company’s highly potent drug candidate which is currently progressing to Phase II patient study following positive Phase 1 results.

According to a press release, Ovid’s 2025 third quarter finical results, as of September 30,2025, were as follows.

• Cash equivalents and marketable securities totaling $25.6 million.
• Revenue from royalty agreements reached $132,000.
• Research and development expenses of $5.9 million
• General and administrative expenses of $6.8 million
• Total operating expenses of $12.7 million
• Ovid reported a net loss of $12.2 million, or basic and diluted net loss per share attributable to common stockholders of $0.17.

Metagenomi

Metagenomi also announced a multitude of updates, including financial results for the quarter, a strategic company evolution focusing capital on the development of its wholly owned MGX-001 hemophilia, A program, a change in leadership, and a planned 25% reduction to its workforce.²

In an effort to support the next phase of development, Metagenomi is promoting Jian Irish, Ph.D., M.B.A, acting company president and former chief operating officer, to the role of CEO, while Brian Thomas, Ph.D., Metagenomi’s founder and former CEO, will remain on the board of directors, with current board member Dr. Willard Dere expected to serve as the company’s new board chair.²

Additionally, the company announced an evolution to its pipeline and discovery efforts, focusing on the advancement of its leading in vivo therapeutics, including the MGX-001 program in hemophilia A, other secreted protein disorders leveraging the MGX-001 approach, and cardiometabolic indications in collaboration with Ionis. In line with Metagenomi’s new focus, the company deprioritized its early discovery and platform research; while also reducing its workforce by 25%.² As a result, the company expects to extend its cash runway into the fourth quarter of 2027.

Metagenomi’s financial results from the third quarter as of September 30, 2025, were as follows.

• Cash equivalents and available-for-sale marketable securities reached $184.1 million
• Research and development expenses were $25.3 million.
• General and administrative expenses reached upwards of $6.2 million

Sources

1. Ovid Therapeutics Announces Planned Leadership Succession and Reports Business Updates and Third Quarter 2025 Financial Results Ovid Therapeutics November 12, 2025 https://www.globenewswire.com/news-release/2025/11/12/3186047/0/en/Ovid-Therapeutics-Announces-Planned-Leadership-Succession-and-Reports-Business-Updates-and-Third-Quarter-2025-Financial-Results.html
2. Metagenomi Reports Third Quarter 2025 Financial Results and Announces Strategic Pipeline Prioritization and Leadership Updates Metagenomi November 11, 2025 https://www.globenewswire.com/news-release/2025/11/11/3185760/0/en/Metagenomi-Reports-Third-Quarter-2025-Financial-Results-and-Announces-Strategic-Pipeline-Prioritization-and-Leadership-Updates.html