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Ovid Therapeutics Inc.

OVID

Ovid Therapeutics Inc. • NASDAQ
$1.78 ▲ 9.20% (+0.15)
Market Cap $126.59 M
52w High $2.01
52w Low $0.24
Dividend Yield 0%
P/E -3.56
Volume 3.12M
Outstanding Shares 71.12M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $132K ▼ $12.638M ▲ $-12.158M ▼ -9.211K% ▼ $-0.17 ▼ $-12.141M ▼
Q2-2025 $6.272M ▲ $11.345M ▼ $-4.684M ▲ -74.681% ▲ $-0.066 ▲ $-4.974M ▲
Q1-2025 $130K ▲ $12.68M ▲ $-10.235M ▼ -7.873K% ▲ $-0.14 ▼ $-12.409M ▼
Q4-2024 $76K ▼ $10.798M ▼ $-9.253M ▲ -12.175K% ▼ $-0.13 ▲ $-10.762M ▲
Q3-2024 $173K $13.399M $-14.006M -8.096K% $-0.2 $-13.057M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25.603M ▼ $63.848M ▼ $19.15M ▼ $44.698M ▼
Q2-2025 $38.347M ▼ $77.428M ▼ $21.639M ▼ $55.789M ▼
Q1-2025 $42.996M ▼ $81.654M ▼ $22.378M ▼ $59.276M ▼
Q4-2024 $53.075M ▼ $92.167M ▼ $23.941M ▼ $68.226M ▼
Q3-2024 $62.712M $102.654M $26.364M $76.29M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.158M ▼ $-12.872M ▼ $5.053M ▼ $15K ▲ $-7.804M ▼ $-12.872M ▼
Q2-2025 $-4.684M ▲ $-4.774M ▲ $12.053M ▲ $0 ▼ $7.279M ▲ $-4.774M ▲
Q1-2025 $-10.235M ▼ $-10.28M ▼ $5.102M ▼ $13K ▲ $-5.165M ▼ $-10.28M ▼
Q4-2024 $-9.253M ▲ $-10.008M ▲ $21.292M ▲ $0 ▼ $11.284M ▲ $-10.03M ▲
Q3-2024 $-14.006M $-15.007M $292K $38K $-14.677M $-15.003M

Revenue by Products

Product Q4-2022Q1-2025Q2-2025Q3-2025
Reportable Segment
Reportable Segment
 $0 ▲$0 ▲$10.00M ▲$0 ▼
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Ovid is still a pure development‑stage biotech, so it effectively has no recurring product revenue. The one year of meaningful profit in the recent past appears driven by a one‑off deal rather than an ongoing business. Since then, the company has returned to steady operating and net losses, but those losses have been relatively contained and have narrowed somewhat over the last few years. In plain terms: Ovid is spending money on research and operations without yet bringing in commercial income, which is normal for an early‑stage biotech but means results will likely stay in the red until a partnership or drug approval changes the picture.

Balance Sheet

Balance Sheet The balance sheet is small but fairly straightforward. Assets are modest and largely made up of cash and equivalents, which have come down from earlier peak levels but have been relatively stable more recently. The company carries only a small amount of debt, with most financing showing up as shareholder equity rather than borrowings. Equity remains positive, though it has drifted down from its high point, reflecting ongoing losses. Overall, the balance sheet looks typical for a clinical‑stage biotech: cash‑heavy, lightly leveraged, and dependent on external funding to support future trials.

Cash Flow

Cash Flow Cash flow patterns mirror the income statement. There was a single year of positive cash flow that likely ties to a partnership or licensing transaction; outside of that, operating and free cash flow have been consistently negative, reflecting the cost of R&D and running the business without commercial sales. Capital spending is minimal, so nearly all cash use is tied to people, trials, and pipeline. This means Ovid’s “cash burn” is real but relatively controlled in size. The separate note about a sizable recent financing suggests the company has deliberately extended its cash runway, reducing near‑term funding pressure but still leaving it reliant on future capital markets or partnering success.

Competitive Edge

Competitive Edge Ovid is trying to carve out a differentiated spot in neurology, especially treatment‑resistant epilepsy and seizure disorders, where medical need is high and competition is more limited than in mainstream diseases. Its lead candidate aims to improve on an existing drug with known safety issues, potentially offering a cleaner option in a space where physicians already understand the mechanism. The KCC2 activator platform is even earlier but could be genuinely first‑in‑class if it works, addressing a biological pathway that few others are targeting directly. Strategic partnerships, including a licensing deal with AstraZeneca and collaborations with academics and other biotechs, help validate its science and expand resources. The flip side is that large pharmaceutical companies with deeper pockets could move into the space if the biology is validated, so Ovid’s advantage may depend on staying ahead in development and building strong data quickly.

Innovation and R&D

Innovation and R&D Innovation is the core of Ovid’s story. The company is pursuing two distinct but complementary scientific angles: a next‑generation version of a known seizure drug mechanism, and a novel approach that directly boosts an important brain transporter tied to neuronal stability. Preclinical and early clinical data suggest potential safety and mechanistic advantages, especially for the lead GABA‑AT inhibitor. The KCC2 activator platform, supported by compounds in‑licensed from AstraZeneca, is especially ambitious and could open doors beyond epilepsy into broader neurological and psychiatric conditions. Ovid also leans on biomarker‑driven trial design and is planning both hospital‑based and at‑home formulations, which shows thoughtful R&D strategy. The main risk is that all of this remains in early to mid clinical stages, so scientific promise still has to survive larger, longer, and more expensive human trials.

Summary

Ovid Therapeutics is a classic early‑stage biotech: scientifically bold, commercially nascent, and financially dependent on outside capital. The company has no recurring product revenue and reports continuing, though not extreme, losses as it funds its pipeline. Its balance sheet is dominated by cash with limited debt, and recent financing appears to give it several years of operating runway, which is a meaningful strength in this sector. Strategically, Ovid is focused on tough neurological diseases where existing treatments are imperfect, and it has built a pipeline that could be either best‑in‑class (improving safety over current options) or first‑in‑class (new biology with little direct competition). Partnerships with larger players help strengthen its position. The key uncertainties center on clinical trial outcomes, regulatory risk, timing of future data readouts, and the need for additional capital over time. In short, Ovid offers significant scientific and medical upside potential but comes with the usual high risk and long timelines associated with clinical‑stage neuroscience biotech companies.

NEWS

November 12, 2025 · 7:00 AM UTC

Ovid Therapeutics Announces Planned Leadership Succession and Reports Business Updates and Third Quarter 2025 Financial Results

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October 3, 2025 · 7:05 AM UTC

Ovid Therapeutics Announces Pricing of Private Placement Totaling up to $175 Million in Gross Proceeds

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October 3, 2025 · 7:00 AM UTC

Ovid announces positive topline results for the next-generation GABA-aminotransferase inhibitor, OV329, that demonstrate strong inhibitory activity and a potential best-in-category safety profile

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