Ovid Therapeutics (OVID) Q4 2024 earnings summary

Executive summary

• Advanced OV329 and KCC2 direct activator programs, with key clinical milestones expected in 2025–2026.

• Strengthened leadership with the appointment of Dr. Stelios Papadopolous to the Board and two industry veterans to management.

• Cash position of $53.1 million as of December 31, 2024, expected to fund operations into the second half of 2026.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $53.1 million at year-end 2024, down from $105.8 million at year-end 2023.

• Revenues from royalty agreements were $566,000 for 2024, up from $392,000 in 2023.

• Research and development expenses were $36.8 million for 2024, up from $28.6 million in 2023.

• General and administrative expenses decreased to $25.7 million in 2024 from $31.1 million in 2023.

• Net loss for 2024 was $26.4 million, or $0.37 per share, compared to $52.3 million, or $0.73 per share, in 2023.

Outlook and guidance

• Cash runway expected to support operations and development programs into the second half of 2026.

• Anticipated milestones include OV329 Phase 1 topline results (Q3 2025), Phase 2a initiation (Q1 2026), OV350 first-in-human study results (Q4 2025), and OV4071 human trials initiation (Q2 2026).

• Ongoing exploration of partnerships and co-development opportunities to accelerate development and offset costs.