OVID Stock — Ovid Therapeutics Inc.: Cash, EV, Pipeline

What they do

Ovid is a biopharmaceutical company that is dedicated to developing small molecule medicines for brain disorders with significant unmet need. These potential medicines targeting the central nervous system (“CNS”) are designed to potentially halt the course of brain disease by quelling neuronal hyperexcitation and alleviating the most impactful patient symptoms.

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.85

Market cap

$556.6M

Cash

$169.8M

Enterprise value

$386.8M

Balance sheet

Cash	$169.8M
Debt	$0.0M
Net cash	$169.8M
Enterprise value	$386.8M
Basic shares	195.3M shares
Fully diluted shares	261.8M shares
Fully diluted market cap	$746.2M
Cash per share	$0.87
Quarterly burn	$17.6M
Cash runway	9.7 quarters

Cash figures as of 2026-06-30. Database snapshot: 2026-11-07.

Share structure

Common

195.3M

Pre-funded warrants

15.6M

Options

21.2M

RSUs

0.7M

Warrants

28.9M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.2M

FDSO

261.8M

Cap table as of 2026-06-30.

Price history

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Next catalyst

OV329 · Dec 1-31 · guided in 24d

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDDec 1-31 in 24d	OV329 exploratory photosensitivity proof-of-mechanism study	Not disclosed	exploratory photosensitivity proof-of-mechanism	near year-end 2026

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

OV329

Phase 1 · Active Modality: small molecule (oral)

Target GABA-aminotransferase (GABA-AT)

Partnerships Northwestern University: exclusive worldwide license; milestones up to $5.3M + low-to-mid single-digit royalties.

Indications

Epilepsy/seizures (Phase 1)
Tuberous sclerosis complex (TSC) (Stage not disclosed)
Infantile spasms (IS) (Stage not disclosed)

Status note Next-generation GABA-AT inhibitor (10-K fallback for target/modality). Phase 1 in healthy subjects completed; regulatory discussions underway for planned Phase 2 patient studies. Additive studies launching to expand into TSC and IS.

OV4071

Stage not disclosed · Active Modality: small molecule

Target KCC2

Status note KCC2 direct activator program (target/modality per 10-K fallback). First IND/CTA (or foreign equivalent) cleared (announced prior to Apr 2026 warrant expiry). No indication stated.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	10,500,968	-213,032	0.25%	2026-08-14
ADAR1 Capital Management	7,417,479	+2,873,366	0.94%	2026-08-14
Braidwell LP	5,919,464	+5,919,464	0.59%	2026-08-14
Ikarian Capital	2,269,704	-625,000	1.00%	2026-08-14
Sphera Biotech	1,353,000	-269,828	0.52%	2026-08-14
OrbiMed Advisors	747,000	+747,000	0.04%	2026-08-14
Ally Bridge Group	624,561	-2,193,898	2.17%	2026-08-14
Stonepine Capital	21,300	-18,700	0.04%	2026-08-17

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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OVID — Ovid Therapeutics Inc. ☆