Ovid Therapeutics Inc.
OVID evidence brief
What we can confirm
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 Inc. is a biopharmaceutical company focused on developing novel therapies for epilepsy and other neurological conditions, with a pipeline centered on KCC2 activators.
Key risk: Limited cash runway
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates for Ovid Therapeutics Inc..
Ovid Therapeutics Inc. is a biopharmaceutical company focused on developing novel therapies for epilepsy and other neurological conditions, with a pipeline centered on KCC2 activators.
- Ovid has a differentiated pipeline of drug candidates with three novel mechanisms of action targeting seizures, including direct activators of KCC2 [sec_mda · as of 2025-11-12].
- As of June 30, 2026, the company reported cash and equivalents of $13.3M, total revenue of $0.7M, and a net loss of -$15.0M [latest reported financials].
- The company has an accumulated deficit of $321.7M as of December 31, 2025 [sec_mda · as of 2026-03-18].
- Two programs are in clinical trials, and a third is expected to begin a clinical trial in the second quarter of 2026 [sec_mda · as of 2025-11-12].
What works
- Ovid holds a portfolio of direct activators of KCC2, a novel mechanism of action for treating seizures, and believes it is the only company with such a portfolio [sec_mda · as of 2025-11-12].
- The company has raised significant capital, with net proceeds of $350.5 million from stock sales through December 31, 2025 [sec_mda · as of 2026-03-18].
- Ovid's team has significant experience with epilepsies and other neurological conditions, providing expertise in drug development [sec_mda · as of 2025-11-12].
What to weigh
- Ovid has a history of net losses, with a net loss of $15.0M for the six months ended June 30, 2026, and expects expenses to increase substantially [latest reported financials; sec_mda · as of 2026-08-13].
- The company's cash position is limited, with $13.3M as of June 30, 2026, which may not be sufficient to fund all planned activities without additional financing [latest reported financials].
- Ovid has an accumulated deficit of $321.7M as of December 31, 2025, indicating significant past losses [sec_mda · as of 2026-03-18].
- The company's future revenue is uncertain, with only $0.7M in total revenue for the six months ended June 30, 2026, and no approved products [latest reported financials].
From the filings
Quoted directly from source documents.
Ovid is the only company with a portfolio of direct KCC2 activators.
“we are the only company that holds a portfolio of direct activators of potassium-chloride cotransporter 2 ("KCC2")”
SEC MD&A · November 12, 2025
Ovid has an accumulated deficit of $321.7M as of December 31, 2025.
“As of December 31, 2025, we had an accumulated deficit of $321.7 million.”
SEC MD&A · March 18, 2026
Two programs are in clinical trials, and a third is expected to begin in Q2 2026.
“Two of our programs are in clinical trials, and a third is expected to begin a clinical trial in the second quarter of 2026.”
SEC MD&A · November 12, 2025
Risks & what to watch (4)›
Key risks
- Limited cash runway — Cash of $13.3M as of June 30, 2026 may not sustain operations without additional financing [latest reported financials].
- History of net losses — Net loss of $15.0M for six months ended June 30, 2026, with accumulated deficit of $321.7M [latest reported financials; sec_mda · as of 2026-03-18].
- Dependence on clinical trial success — Pipeline is preclinical or clinical stage; no approved products or revenue from product sales [sec_mda · as of 2025-11-12].
- Need for additional capital — Expects expenses to increase substantially, requiring future funding through equity or partnerships [sec_mda · as of 2026-08-13].
What to watch
- Initiation of the third clinical trial expected in Q2 2026 [sec_mda · as of 2025-11-12].
- Cash runway and potential need for additional financing given $13.3M cash as of June 30, 2026 [latest reported financials].
- Progress of ongoing clinical trials for the two programs currently in trials [sec_mda · as of 2025-11-12].
- Any updates on the ATM program, which raised $2.4M in gross proceeds since December 31, 2025 [sec_mda · as of 2026-03-18].
Sources: SEC MD&A · Generated August 25, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
19.6 months
D/E 0.11
Lead: Phase 2
3 candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Runway
Pipeline
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
102
Total value held
$260.7M
| Holder | Shares | Value |
|---|---|---|
| janus henderson group plc | 21,428,000 | $47.5M |
| ra capital management, l.p. | 10,714,000 | $23.8M |
| affinity asset advisors, llc | 10,636,318 | $23.6M |
| vanguard capital management llc | 10,516,492 | $23.3M |
| 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 |
| adar1 capital management, llc | 4,544,113 | $10.1M |
| federated hermes, inc. | 3,571,000 | $7.9M |
| ikarian capital, llc | 2,894,704 | $6.4M |
Showing top 10 of 102 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 Inc. is a biopharmaceutical company focused on developing novel therapies for epilepsy and other neurological conditions, with a pipeline centered on KCC2 activators.
What is Ovid Therapeutics Inc.'s lead drug candidate?
Ovid Therapeutics Inc.'s most advanced tracked candidate is ov329 (Phase 1) for drug-resistant epilepsies.
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 Neurology, Psychiatry.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.