Ovid Therapeutics Inc.
OVID evidence brief
What we can confirm
- BioSniper Score:
- 5.7 / 10
- Market Cap:
- $525.4M
- Lead Asset:
- ov329 (Phase 1)
What it means
What to watch
Prepared research question
What matters most for OVID—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · OVID
Ovid Therapeutics is a biotech company focused on developing novel drug candidates for epilepsy and other CNS conditions, with a pipeline centered on KCC2 activators and GABA-AT inhibitors, currently in clinical trials.
Key risk: Cash runway limited
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$525.4M
Cash Runway
—
Lead Asset
ov329 (Phase 1)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate for Ovid Therapeutics Inc..
Ovid Therapeutics is a biotech company focused on developing novel drug candidates for epilepsy and other CNS conditions, with a pipeline centered on KCC2 activators and GABA-AT inhibitors, currently in clinical trials.
- Ovid holds a portfolio of direct activators of potassium-chloride cotransporter 2 (KCC2), a novel mechanism of action for seizures [sec_mda · as of 2026-08-13].
- Two programs are in clinical trials: OV329 (Phase 2 proof-of-concept and photosensitivity studies initiated) and OV4071 (first oral KCC2 activator, Phase 1 ongoing) [news · published 2026-08-13].
- Cash & equivalents were $11.3M as of 2026-06-30, with net income of -$15.0M and total revenue of $0.7M [sec].
- A portfolio company acquired global rights to soticlestat; Ovid received equity and potential milestone/royalty payments [news · published 2026-08-13].
- Ovid raised $56.2 million net from a 2026 private placement to support development of OV329 into additional indications [sec_mda · as of 2026-05-12].
What works
- Ovid has a differentiated pipeline with novel mechanisms, being the only company with a portfolio of direct KCC2 activators [sec_mda · as of 2026-08-13].
- The company has advanced two programs into clinical trials, including a Phase 2 study for OV329 [news · published 2026-08-13].
- A recent private placement raised $56.2 million, providing capital to expand development into additional indications [sec_mda · as of 2026-05-12].
What to weigh
- Ovid reported a net loss of $15.0M and minimal revenue of $0.7M as of 2026-06-30, indicating ongoing cash burn [sec].
- Cash & equivalents were only $11.3M as of 2026-06-30, which may be insufficient to fund all planned clinical and preclinical activities without additional capital [sec].
- The company expects expenses to increase substantially as it continues clinical development and seeks marketing approvals, requiring future capital raises [sec · filed 2025-11-07].
- Ovid's net losses may fluctuate significantly depending on the timing of clinical trials and R&D expenditures [sec_mda · as of 2026-08-13].
From the filings
Quoted directly from source documents.
Ovid is the only company with a portfolio of direct KCC2 activators.
“believe we are the only company that holds a portfolio of direct activators of potassium-chloride cotransporter 2 ("KCC2")”
SEC MD&A · August 13, 2026
OV329 Phase 2 studies have been initiated.
“Initiated Phase 2 proof-of-concept and photosensitivity studies for OV329, a next-generation GABA-AT inhibitor”
News · August 13, 2026
Ovid raised $56.2 million net from a 2026 private placement.
“We received net proceeds from the 2026 Private Placement of $56.2 million”
SEC MD&A · May 12, 2026
Risks & what to watch (4)›
Key risks
- Cash runway limited — Cash & equivalents of $11.3M as of 2026-06-30 may not sustain operations without additional funding [sec].
- Dependence on future capital — Ovid requires additional capital to fund R&D, manufacturing, and precommercial activities [sec · filed 2025-11-07].
- Clinical trial execution risk — Net losses fluctuate with trial timing; expenses expected to increase substantially [sec_mda · as of 2026-08-13].
- No approved products yet — All programs are in preclinical or clinical stages; no marketing approvals obtained [sec_mda · as of 2026-08-13].
What to watch
- Progress of OV329 Phase 2 proof-of-concept and photosensitivity studies [news · published 2026-08-13].
- Advancement of OV4071 Phase 1 study for the first oral KCC2 activator [news · published 2026-08-13].
- Ovid's ability to raise additional capital given $11.3M cash as of 2026-06-30 [sec].
- Potential milestone payments from soticlestat global rights deal [news · published 2026-08-13].
Sources: News · SEC filings · SEC MD&A · Generated October 8, 2026 · How we verify sources →
Run Ovid Therapeutics Inc. through your own thesis
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.11
Lead: Phase 1
1 candidate
No upcoming catalysts tracked
No insider transactions in the last 180 days
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
103
Total value held
$232.9M
| Holder | Shares | Value |
|---|---|---|
| ra capital management, l.p. | 10,714,000 | $23.8M |
| janus henderson group plc | 10,714,000 | $23.7M |
| affinity asset advisors, llc | 10,636,318 | $23.6M |
| eventide asset management, llc | 9,916,911 | $22.0M |
| adage capital partners gp, l.l.c. | 6,163,781 | $13.7M |
| balyasny asset management l.p. | 5,533,073 | $12.3M |
| vanguard capital management llc | 5,258,246 | $11.7M |
| adar1 capital management, llc | 4,544,113 | $10.1M |
| saturn v capital management lp | 4,166,666 | $9.2M |
| federated hermes, inc. | 3,571,000 | $7.9M |
Showing top 10 of 103 institutional holders of Ovid Therapeutics Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 22, 2026- % of float
- 5.8%
- Days to cover
- 2.9
- Shares short
- 8,527,074
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
OVID short interestGovernance
Frequently asked questions
What is the AI investment thesis for Ovid Therapeutics Inc.?
Ovid Therapeutics is a biotech company focused on developing novel drug candidates for epilepsy and other CNS conditions, with a pipeline centered on KCC2 activators and GABA-AT inhibitors, currently in clinical trials.
What is Ovid Therapeutics Inc.'s lead drug candidate?
Ovid Therapeutics Inc.'s most advanced tracked candidate is ov329 (Phase 1) for drug-resistant focal onset seizures, developmental and epileptic encephalopathies, tuberous sclerosis complex seizures, infantile spasms.
Who is the CEO of Ovid Therapeutics Inc.?
Ms. Margaret Alexander is the chief executive officer of Ovid Therapeutics Inc. (OVID).
Where is Ovid Therapeutics Inc. headquartered?
Ovid Therapeutics Inc. (OVID) is headquartered in New York, NY, United States.
What therapeutic areas does Ovid Therapeutics Inc. focus on?
Ovid Therapeutics Inc. develops therapies across Rare Disease, Neurology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.