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Ovid Therapeutics (OVID) investor relations material
Ovid Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Focused on developing small molecule medicines for brain conditions, with a pipeline targeting epilepsy and neurodegenerative diseases; two programs in clinical trials and a third expected to enter trials in Q2 2026.
Announced CEO succession: Meg Alexander to become CEO effective January 1, 2026, with Dr. Jeremy M. Levin transitioning to Executive Chair of the Board.
Advanced OV329, a next-generation GABA-AT inhibitor, to Phase 2 after strong Phase 1 results and favorable safety profile.
Progressed KCC2 direct activator portfolio, with OV350 IV data expected Q4 2025 and OV4071 oral candidate entering clinic in Q2 2026.
Completed private placement for up to $175.1M, extending cash runway into 2H 2028.
Financial highlights
Revenue for Q3 2025 was $0.1M, down from $0.2M in Q3 2024; nine-month revenue rose to $6.5M from $0.5M year-over-year, mainly from Marinus license amendments.
Cash, cash equivalents, and marketable securities totaled $25.6M as of September 30, 2025, with working capital of $22.0M.
Research and development expenses decreased to $5.9M in Q3 2025 from $7.9M in Q3 2024, mainly due to pausing the OV888 program and organizational restructuring.
General and administrative expenses were $6.8M in Q3 2025 (up from $5.5M), reflecting business development costs and restructuring savings.
Net loss was $12.2M ($0.17 per share) for Q3 2025, improved from $14.0M ($0.20 per share) in Q3 2024; nine-month net loss was $27.1M.
Outlook and guidance
Cash runway expected to fund operations and clinical pipeline into 2H 2028, including proceeds from private placement.
Multiple clinical milestones anticipated in the next 18–24 months, including Phase 2a initiation for OV329 and proof-of-concept trials for KCC2 activators.
Management expects continued operating losses for several years as clinical and preclinical programs advance.
Expenses are projected to increase as pipeline programs progress and new candidates are acquired or in-licensed.
Elaborate on OV329's retinal safety advantage
Purpose of OV4071 ketamine challenge study
Impact of Q2 2024 restructuring on pipeline
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Next Ovid Therapeutics earnings date
Q4 20259 Mar, 2026
Next Ovid Therapeutics earnings date
Q4 20259 Mar, 2026
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Frequently asked questions
Ovid Therapeutics Inc. is a biopharmaceutical company focused on developing treatments for rare neurological disorders. The company specializes in small-molecule and genetic-based therapies targeting conditions such as epilepsies and neurodevelopmental syndromes. Its research and development efforts aim to advance novel drug candidates through clinical trials and regulatory approvals. The company is headquartered in New York, New York, and its shares are listed on the NASDAQ.
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