Ovid Therapeutics

Ovid makes medicines for people with brain and seizure disorders. Its drugs help calm brain signals to stop harmful symptoms. The company aims to make treatments that are easier for patients to handle.

Calming the Overactive Brain

• OV329: Oral drug designed to stop overactive brain signals by boosting gamma-aminobutyric acid, a natural calming chemical.
• KCC2 Library: Collection of over 100 molecules that fix how brain cells manage salt levels to stay stable.
• OV4071: Experimental pill that targets brain proteins to treat mental health issues like hallucinations and schizophrenia.
• OV101: Therapeutic candidate previously developed for rare genetic conditions and now licensed to other research partners.

Strategic Growth and New Patents

• Licensed a portfolio of small molecules from AstraZeneca in 2021 to expand its brain research.
• Invested $5.1 million in Gensaic during 2022 to develop new genetic medicines for the central nervous system.
• Obtained global rights to the seizure drug OV329 from Northwestern University in 2016.
• Amended a deal with Marinus in 2025 to receive $7 million in cash to replace future royalty rights.

What Makes Ovid Stand Out

Ovid holds a unique library of small molecules that directly activate KCC2, a key protein that balances brain signals. The company uses specialized testing to find drugs that work without making patients feel extremely sleepy.

Essential Financial Facts

• Net income improved to $9.7 million in Q4 2025, up from a $9.3 million loss in Q4 2024.
• Revenue reached $718,000 in Q4 2025, a jump of 844.7% over the previous year.
• Operating losses worsened to $12.3 million in Q4 2025 from $10.7 million in Q4 2024.
• Free cash flow worsened to negative $10.4 million in Q4 2025 from negative $10 million in 2024.

Bottom Line

Ovid has built a pipeline of brain medicines by licensing unique science from top research partners. The company has moved from early research to testing multiple drugs in patients for rare neurological conditions.