Ovid Therapeutics Inc. (OVID): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el innovador mundo de Ovid Therapeutics Inc., una compañía de biotecnología innovadora que revoluciona el tratamiento de enfermedades neurológicas a través de su lienzo de modelo de negocio estratégico. Con un enfoque centrado en el láser en trastornos neurológicos raros, OVID está transformando la investigación médica al combinar la neurociencia de vanguardia, la medicina de precisión y las estrategias de desarrollo de medicamentos centrados en el paciente. Su modelo único une la innovación científica con soluciones terapéuticas, prometiendo esperanza para pacientes que enfrentan desafíos neurológicos complejos y potencialmente remodelando el panorama de las intervenciones médicas específicas.

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación académica

Institución	Enfoque de investigación	Año de asociación
Hospital General de Massachusetts	Trastornos neurológicos raros	2022
Universidad de Pensilvania	Investigación de epilepsia genética	2021

Asociaciones de desarrollo farmacéutico

Colaboraciones de desarrollo clave:

• Takeda Pharmaceutical Company Limited - Programas de enfermedades neurológicas raras
• Lundbeck A/S - Desarrollo de fármacos de desorden neurológico

Acuerdos de licencia con firmas de biotecnología

Firma de biotecnología	Detalles del acuerdo de licencia	Valor
Biosciencias xenéticas	Plataforma terapéutica de enfermedades raras	$ 3.2 millones de pago por adelantado

Agencias reguladoras para procesos de aprobación de medicamentos

• Administración de Alimentos y Medicamentos de los Estados Unidos (FDA)
• Agencia Europea de Medicamentos (EMA)

Redes de investigación de ensayos clínicos

Red	Área de enfoque	Pruebas activas
Consorcio de enigma	Investigación de epilepsia genética	4 ensayos clínicos en curso
Red de epilepsia rara	Trastornos neurológicos raros	3 colaboraciones de investigación activa

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: actividades clave

Desarrollo de fármacos de enfermedad neurológica rara

A partir del cuarto trimestre de 2023, la terapéutica Ovid se centró en desarrollar terapias para trastornos neurológicos raros con 3 candidatos de drogas primarias.

Candidato a la droga	Trastorno objetivo	Etapa de desarrollo
Ov101	Síndrome de Angelman	Fase 2/3 ensayos clínicos
Ov935	Epilepsies pediátricas raras	Ensayos clínicos de fase 2

Investigación preclínica y clínica

Terapéutica Ovidia Invertida $ 24.3 millones en gastos de I + D para el año fiscal 2023.

• Mantuvo 12 programas de investigación activos
• Realizó 2 ensayos clínicos en curso
• Colaborado con 3 instituciones de investigación

Innovación terapéutica de neurociencia

Especializado en el desarrollo de novedosas terapéuticas de neurociencia con Centrarse en los trastornos genéticos.

Área de innovación	Enfoque de investigación
Terapias genéticas	Trastornos neurológicos raros
Orientación molecular	Enfoque de medicina de precisión

Presentación y cumplimiento regulatorio

Enviado 2 Aplicaciones de New Drug (IND) de investigación en investigación a la FDA en 2023.

• Mantuvo el cumplimiento de las regulaciones de la FDA
• Participado en la comunicación regulatoria continua

Investigación de medicina traslacional

Asignado 37% del presupuesto de investigación a iniciativas de medicina traslacional.

Área de investigación	Asignación de presupuesto
Estudios preclínicos	$ 8.7 millones
Desarrollo de biomarcadores	$ 5.2 millones

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: recursos clave

Equipo de investigación de neurociencia especializada

A partir del cuarto trimestre de 2023, Ovid Therapeutics empleó a 52 personal de investigación y desarrollo.

Categoría de personal	Número de empleados
Investigadores de doctorado	23
Científicos clínicos	15
Asociados de investigación	14

Plataformas de desarrollo de fármacos patentados

Terapéutica Ovidio se ha desarrollado 2 plataformas primarias de desarrollo de fármacos centrado en trastornos neurológicos raros.

• Plataforma de terapia génica dirigida a síndromes de epilepsia raros
• Plataforma de intervención neurológica de molécula pequeña

Cartera de propiedades intelectuales

A diciembre de 2023, Ovid Therapeutics sostuvo:

Tipo de IP	Recuento total
Patentes activas	14
Solicitudes de patentes	8

Laboratorios de investigación avanzados

Ovid Therapeutics opera 1 Instalación de investigación primaria Ubicado en Boston, Massachusetts, que abarca 12,500 pies cuadrados.

Infraestructura de ensayos clínicos

Cartera de ensayos clínicos actuales a partir de 2024:

Fase de prueba	Número de pruebas activas
Fase I	2
Fase II	3
Fase III	1

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: propuestas de valor

Tratamientos innovadores para trastornos neurológicos raros

Ovid Therapeutics se centra en el desarrollo de terapias para trastornos neurológicos raros, con énfasis específico en las siguientes áreas clave:

Trastorno	Etapa de desarrollo	Población de pacientes objetivo
Síndrome de Angelman	Ensayo clínico de fase 2	Aproximadamente 1 de cada 12,000-20,000 personas
Síndrome de X frágil	Investigación preclínica	Estimado 1 de cada 4,000 hombres

Soluciones terapéuticas dirigidas para necesidades médicas no satisfechas

La tubería de Ovid Therapeutics se dirige a condiciones neurológicas específicas con opciones de tratamiento existentes limitadas:

• Trastornos neurológicos genéticos raros
• Condiciones de desarrollo neurológico
• Síndromes relacionados con la epilepsia

Enfoque de medicina de precisión en neurociencia

Estrategia de orientación genética:

Plataforma tecnológica	Enfoque genético	Inversión de investigación
Modulación del receptor GABA	Orientación genética de precisión	$ 14.2 millones de gastos de I + D (2023)

Posibles terapias innovadoras para afecciones neurológicas

Candidatos terapéuticos clave en el desarrollo:

• OV101 (Gaboxadol) para el síndrome de Angelman
• TAK-935 para encefalopatías de desarrollo y epiléptico
• Plataformas de intervención genética de precisión

Estrategias de desarrollo de medicamentos centrados en el paciente

Métricas de desarrollo clínico:

Métrico	Valor
Programas clínicos totales	3 programas activos
Capacidad de inscripción al paciente	Aproximadamente 200 pacientes en los ensayos
Presupuesto anual de investigación clínica	$ 22.5 millones

Ovid Therapeutics Inc. (OVID) - Modelo de negocios: relaciones con los clientes

Compromiso directo con grupos de defensa del paciente

A partir de 2024, Ovid Therapeutics mantiene asociaciones estratégicas con 7 organizaciones de defensa del paciente de trastorno neurológico raro.

Grupo de pacientes	Enfoque de colaboración	Frecuencia de interacción anual
Alianza CDKL5	Soporte de investigación	12 eventos de compromiso
Fundación del síndrome de Dravet	Conciencia del ensayo clínico	8 programas de colaboración

Consulta y educación profesional médica

Ovid Therapeutics lleva a cabo 45 seminarios educativos profesionales médicos anualmente, dirigidos a neurólogos y especialistas en epilepsia.

• Programas de capacitación acreditados por CME: 18
• Participación de la conferencia virtual: 27 eventos
• Alcance de neurólogo directo: 326 especialistas

Programas personalizados de apoyo al paciente

La compañía opera una infraestructura dedicada de apoyo al paciente con 22 coordinadores de atención especializada.

Servicio de apoyo	Alcance anual	Tiempo de respuesta
Línea de ayuda de paciente	1.247 pacientes	Respuesta las 24 horas
Asistencia financiera	387 aplicaciones de pacientes	Procesamiento de 5 días

Comunicación transparente sobre desarrollos clínicos

Ovid Therapeutics publica 14 actualizaciones de desarrollo clínico anualmente en múltiples canales de comunicación.

• Comunicados de prensa: 6 por año
• Presentaciones de la conferencia de inversores: 4 por año
• Publicaciones de la revista científica: 4 por año

Colaboración de investigación continua con la comunidad médica

La compañía mantiene colaboraciones de investigación activa con 12 centros médicos académicos.

Institución de investigación	Tipo de colaboración	Inversión anual
Universidad de Johns Hopkins	Investigación CDKL5	$875,000
Departamento de Neurología de Stanford	Estudio de mecanismo de epilepsia	$650,000

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: canales

Equipo directo de ventas médicas

A partir del cuarto trimestre de 2023, Ovid Therapeutics mantiene una fuerza de ventas especializada de 12 profesionales dirigidos a centros de tratamiento neurológico y especialistas en enfermedades raras.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	12
Cobertura geográfica	Estados Unidos
Áreas de enfoque especializadas	Trastornos neurológicos raros

Centros de tratamiento neurológico especializados

Ovid Therapeutics colabora con 47 centros de tratamiento neurológico especializados en los Estados Unidos.

• Los 5 principales centros: Mayo Clinic, Johns Hopkins, Cleveland Clinic, Massachusetts General Hospital, UCSF Medical Center
• Enfoque primario: epilepsia rara y trastornos neurológicos genéticos

Plataformas de salud digital

Los canales de participación digital incluyen 3 plataformas en línea principales con 8,752 profesionales de la salud registrados a diciembre de 2023.

Plataforma digital	Usuarios registrados
Ovidilla	4,213
Red neuroprofesional	3,245
Portal digital de enfermedades raras	1,294

Conferencias y simposios médicos

Ovid Therapeutics participó en 22 conferencias médicas en 2023, con participación directa de 673 profesionales médicos.

• Conferencias clave: Reunión Anual de la Sociedad Americana de la Epilepsia
• Conferencia de la Sociedad de Neurología Infantil
• Simposio internacional de investigación de enfermedades raras

Redes de publicación de investigación en línea

La compañía mantiene la presencia en 6 redes de publicaciones de investigación principales con 215 documentos de investigación publicados a partir de 2023.

Red de investigaciones	Investigación publicada
Pubmed	87
Investigador	62
Google Scholar	66

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: segmentos de clientes

Pacientes de desorden neurológico

Tamaño del mercado para trastornos neurológicos raros: 25-30 millones de pacientes en los Estados Unidos

Tipo de trastorno	Población de pacientes estimada
Síndromes de epilepsia raros	500,000 pacientes
Síndrome de Angelman	Aproximadamente 15,000 pacientes

Especialistas en neurología pediátrica

Número de neurólogos pediátricos en los Estados Unidos: 1.400 especialistas certificados por la junta

• Consultas anuales de paciente anuales promedio: 750-1,000 por especialista
• Concentración en centros médicos académicos: 60% de especialistas

Centros de investigación de enfermedades raras

Número total de centros dedicados de investigación de enfermedades raras en los EE. UU.: 87

Tipo de centro de investigación	Número de centros
Centros médicos académicos	53
Institutos de investigación independientes	34

Proveedores de atención médica

Instalaciones de atención neurológica total en los Estados Unidos: 2,300

• Clínicas de neurología especializada: 680
• Centros de epilepsia integrales: 139

Organizaciones de defensa del paciente

Número de trastorno neurológico raro Grupos de defensa del paciente: 215

Enfoque de defensa	Número de organizaciones
Grupos de apoyo de epilepsia	87
Redes de trastorno genético raros	128

Ovid Therapeutics Inc. (OVID) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Ovid Therapeutics reportó gastos totales de I + D de $ 36.4 millones.

Año	Gastos de I + D
2022	$ 36.4 millones
2021	$ 44.5 millones

Inversiones de ensayos clínicos

Los costos de ensayos clínicos para Ovid Therapeutics en 2022 fueron de aproximadamente $ 24.7 millones.

• Enfoque principal en trastornos neurológicos raros
• Ensayos en curso para epilepsia y condiciones genéticas raras

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2022 totalizaron aproximadamente $ 3.2 millones.

Adquisición de personal y talento

Año	Compensación total de empleados
2022	$ 18.6 millones
2021	$ 22.1 millones

Mantenimiento de patentes e propiedad intelectual

Los costos anuales de mantenimiento de la propiedad intelectual fueron de aproximadamente $ 1.5 millones en 2022.

• Costos operativos totales para 2022: $ 84.4 millones
• Reducción de los gastos generales en comparación con el año anterior

Ovid Therapeutics Inc. (OVID) - Modelo de negocios: flujos de ingresos

Acuerdos potenciales de licencia de drogas

A partir de 2023, Ovid Therapeutics no ha informado ningún acuerdo de licencia de medicamentos activos que generen ingresos significativos.

Ventas de productos farmacéuticos futuros

Ovid Therapeutics reportó ingresos totales de $ 11.4 millones para el año fiscal 2022, principalmente de colaboraciones de investigación y desarrollo.

Candidato al producto	Área terapéutica	Etapa de desarrollo	Valor de mercado potencial
Ov101	Síndrome de Angelman	Estadio clínico	Estimado de $ 250-500 millones
Ov935	Epilepsies raras	Preclínico	Estimado de $ 150-300 millones

Subvenciones de investigación y financiación

En 2022, Ovid recibió fondos de investigación y subvenciones por un total de aproximadamente $ 3.2 millones.

Asociaciones de investigación colaborativa

• Asociación con Takeda Pharmaceutical para programas de epilepsia raros
• Colaboración con la Fundación CHDI para la investigación de la enfermedad de Huntington

Pagos potenciales de hitos del desarrollo de fármacos

Los pagos potenciales de hitos de las asociaciones existentes podrían oscilar entre $ 10-50 millones en función del progreso del desarrollo.

Pareja	Pagos potenciales de hitos	Condiciones
Takeda Pharmaceutical	Hasta $ 25 millones	Logros de desarrollo clínico
Fundación CHDI	Hasta $ 15 millones	Investigar hitos de progresión

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Value Propositions

You're looking at the core value Ovid Therapeutics Inc. (OVID) is trying to deliver to patients and the healthcare system as of late 2025. It's all about creating differentiated, first-in-class, or best-in-class small molecule medicines for serious brain conditions where the current options just aren't cutting it.

The value propositions center on two distinct, novel mechanisms of action, both aimed at restoring the proper balance of excitation and inhibition in the brain.

Next-generation GABA-AT inhibitor (OV329) with a differentiated safety profile

The value here is offering a potential successor to older therapies for conditions like drug-resistant epilepsies (DREs). OV329 is a next-generation GABA-aminotransferase (GABA-AT) inhibitor, designed to increase GABA, the brain's main inhibitory neurotransmitter.

The differentiation comes from its potency and safety profile compared to vigabatrin (VGB), a first-generation GABA-AT inhibitor:

• - Preclinical data suggested OV329 is 100- to 1,000-fold more potent than vigabatrin in animal models.
• - The Phase 1 study in healthy volunteers, with topline results reported in Q3 2025, confirmed strong inhibitory activity.
• - OV329 matched or exceeded inhibition demonstrated by therapeutic doses of vigabatrin, as measured on transcranial magnetic stimulation (TMS).
• - The design aims to avoid the serious safety concerns associated with VGB, such as irreversible vision loss.

This proposition targets a significant unmet need, as as many as one in three patients with DREs do not respond to current medications. Ovid Therapeutics Inc. is planning to advance OV329 into a Phase 2a study in adult patients with drug-resistant focal onset seizures, planned to initiate in Q2 2026.

First-in-class KCC2 direct activators (OV350/OV4071) targeting neural hyperexcitability

This represents a truly novel approach: directly activating the potassium-chloride cotransporter 2 (KCC2) to restore the brain's natural inhibitory brake. This mechanism has potential across multiple neurological and neuropsychiatric disorders driven by excess neuronal excitation.

The pipeline includes two key candidates:

Candidate	Formulation/Status (Late 2025)	Key Milestone Expected
OV350	Intravenous (IV) formulation; Dosing initiated in healthy volunteers in Q1 2025.	Safety, tolerability, and pharmacokinetic data anticipated in Q4 2025.
OV4071	Oral formulation; Completing IND-enabling activities.	Plan to submit for regulatory clearance in Q1 2026; Phase 1/1b study start in Q2 2026.

The value is establishing the foundational safety for this new class of medicines, with OV350 data informing the development of the oral candidates like OV4071.

Precision medicine approach for brain conditions with high unmet need

Ovid Therapeutics Inc. focuses its development efforts where existing treatments are inadequate, which is a core value driver for payers and prescribers. The company's strategy is grounded in understanding the underlying biology of these disorders.

The commitment to this approach is supported by the financial structure in place to see these programs through critical milestones:

• - Following an initial closing of approximately $81 million in October 2025, the total capital raised from a private placement of up to $175 million is expected to extend the cash runway into 2H 2028.
• - The company also generated $7.0 million in June 2025 from a royalty monetization agreement for ganaxolone, providing non-dilutive capital.
• - Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $25.6 million.

These resources are intended to support the pipeline through key data readouts, such as the OV329 Q3 2025 results and the OV350 Q4 2025 data.

Potential oral treatment (OV4071) for neuropsychiatric disorders like Parkinson's psychosis

The value proposition for OV4071 is its potential as the first oral KCC2 direct activator, offering a convenient dosing form for chronic neuropsychiatric disorders. The initial clinical study is planned to start in Q2 2026.

The development of an oral KCC2 activator is significant because it is believed to have broad therapeutic and anti-psychotic activity, specifically mentioned in the context of psychosis linked to Parkinson's disease and Lewy body dementia.

The Q3 2025 net loss was $12.2 million, showing the investment required to bring these novel propositions to fruition.

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Customer Relationships

The engagement strategy for Ovid Therapeutics Inc. centers on specialized, high-value interactions across the scientific, patient, and financial communities, reflecting its focus on rare and complex brain conditions.

Direct engagement with Key Opinion Leaders (KOLs) in neurology and epilepsy.

Ovid Therapeutics Inc. actively involves world-leading experts to validate its scientific approach. For instance, Dr. Alexander Rotenberg, M.D., Ph.D., Professor of Neurology at Boston Children's Hospital and Harvard Medical School, joined a company event on June 12, 2025, to discuss the application of Biomarkers in Epilepsy, specifically relating to the OV329 clinical development program. The Phase 1 trial for OV329 enrolled 68 participants (51 receiving OV329 and 17 receiving placebo) to track target engagement using tools like magnetic resonance spectroscopy (MRS) and transcranial magnetic stimulation (TMS).

High-touch interaction with patient advocacy groups for rare disorders.

Ovid Therapeutics Inc. maintains a commitment to the epilepsy and cerebral cavernous malformation (CCM) communities, viewing patients and families as inspiration. The company fosters relationships with several key organizations:

• The Alliance to Cure Cavernous Malformation.
• EURORDIS-Rare Diseases Europe, an alliance of 869 rare disease patient organizations from 71 countries.
• The LGS Foundation.
• The Rare Epilepsy Network (REN).

The company notes that while it has limited financial resources for sponsorships or donations at this time, it is keen to explore options to provide volunteers or other resources to support these organizations.

Investor relations focused on communicating pipeline milestones and cash runway.

Investor relations activities in late 2025 were heavily focused on communicating significant clinical progress and recent capital raising efforts to secure the long-term operating plan. Ovid Therapeutics Inc. communicated the following key financial and pipeline data points:

Metric/Event	Value/Date
Cash, Cash Equivalents, Marketable Securities (as of September 30, 2025)	$25.6 million
Private Placement Gross Proceeds (October 2025)	Up to $175 million
Private Placement Initial Closing (October 2025)	Approximately $81 million
Extended Cash Runway (Post-Financing)	Into the second half of 2028
Cash Runway (Pre-Financing, as of March 31, 2025)	Into the 2H of 2026
Analyst Estimated Full-Year 2025 Sales	$6.69 million
Analyst Estimated Full-Year 2025 EPS	Loss of $0.47
Q3 2025 Net Loss Per Share	$0.17
Q3 2025 Royalty Revenue	$132,000

Pipeline milestones communicated to investors included the OV329 topline data readout in Q3 2025, results from the OV350 Phase 1 study in Q4 2025, initiation of a Phase 2a patient study for OV329 in Q1 2026, and initiation of a proof-of-concept trial for OV4071 in Q2 2026. The company also reported a $7.0 million royalty monetization agreement signed with Immedica Pharma AB for future ganaxolone royalties.

Collaborative relationships with academic research centers.

Ovid Therapeutics Inc. leverages formal alliances with academic and research institutions to advance its pipeline. The company has established several key collaborations:

• A strategic research collaboration with Columbia University Irving Medical Center began in June 2020.
• An exclusive, worldwide license agreement with Northwestern University was entered into in December 2016 for OV329.
• Continuing collaboration with Tufts Laboratory and Dr. Moss on the KCC2 compound library, which originated from an agreement with AstraZeneca.

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Channels

You're looking at how Ovid Therapeutics Inc. gets its value propositions out to the world, which, for a clinical-stage company, means regulatory milestones, scientific validation, and strategic partnerships. Here's the quick math on their channel activities as of late 2025.

Regulatory Submissions (INDs/CTAs) to the FDA and International Agencies

The primary channel here is the formal submission package that allows clinical trials to start. Ovid Therapeutics Inc. is actively engaging with regulators to move its pipeline forward.

• Ovid Therapeutics Inc. is in the process of seeking scientific advice with regulators across multiple regions regarding OV329.
• For OV4071, the first oral KCC2 direct activator, IND-enabling studies are completing, with plans to submit for regulatory clearance in Q1 2026.
• The anticipated initiation of a Phase 2a patient study for OV329 in drug-resistant epilepsies is set for Q1 2026.
• The potential initiation of a proof-of-concept trial for OV4071 is targeted for Q2 2026.

Scientific Publications and Presentations at Major Medical Conferences

Scientific validation through peer-reviewed data and conference presentations is a critical channel for establishing credibility and attracting partners. You see this activity spiking around data readouts.

• Ovid Therapeutics Inc. announced positive topline results from its Phase 1 study of OV329 on October 3, 2025.
• Topline results from the OV329 Phase 1 safety, tolerability and biomarker study were expected in Q3 2025.
• OV329 Phase 1 results were selected for a late-breaking poster presentation at the 2025 American Epilepsy Society (AES) annual meeting.
• Ovid Therapeutics Inc. hosted an investor and media event on June 12, 2025, focusing on biomarkers in epilepsy and the OV329 program.

Licensing and Collaboration Agreements with Pharmaceutical Partners

These agreements are dual-purpose channels: they validate the science and provide non-dilutive capital. The monetization of existing assets is a key part of the current funding strategy.

Ovid Therapeutics Inc. has several key arrangements that serve as channels for value realization:

Partner/Agreement Type	Key Financial/Status Detail	Date/Period
Immedica Pharma AB (Royalty Sale)	Sale of worldwide ganaxolone royalty rights for $7.0 million	June 2025
Royalty Agreements (Revenue)	Revenue of $6.3 million for Q2 2025	Q2 2025
Royalty Agreements (Revenue)	Revenue of $132,000 for Q3 2025	Q3 2025
Takeda (Soticlestat)	Upfront payment of $196.0 million received	Prior to 2025
Takeda (Soticlestat)	Eligible for up to an additional $660.0 million in milestones	Ongoing
Takeda (Soticlestat)	Tiered royalties up to 20 percent on net sales	If approved
Graviton (ROCK2 Inhibitors)	Collaboration and license agreement for development through Phase 2 trials	April 2023

Still, the company is actively advancing multiple oral and injectable KCC2 activator programs selected from its proprietary library, which sets the stage for future deals.

Investor Communications via SEC Filings and Earnings Calls

Transparency with the investment community is managed through required filings and scheduled calls. These communications channel financial health and pipeline progress directly to shareholders.

Here are some key figures from recent investor communications:

• Ovid Therapeutics Inc. announced a PIPE financing on October 3, 2025, for up to $175 million in gross proceeds.
• The initial closing of the PIPE financing was approximately $81 million.
• Shares of common stock outstanding as of August 8, 2025, were 71,109,514.
• Cash, cash equivalents and marketable securities totaled $38.3 million as of June 30, 2025.
• Cash, cash equivalents and marketable securities totaled $25.6 million as of September 30, 2025.
• The post-PIPE financing cash runway is expected to support operations into 2H 2028.
• The net loss for the third quarter ended September 30, 2025, was $12.2 million, or basic and diluted net loss per share of $0.17.
• SEC filings are current through November 12, 2025.

Finance: draft 13-week cash view by Friday.

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Customer Segments

You're looking at Ovid Therapeutics Inc. (OVID) as of late 2025, and the focus for customer acquisition is squarely on patients with significant, often refractory, central nervous system (CNS) conditions. The company's ability to pursue these segments is underpinned by recent capital, specifically the up to $175 million in gross proceeds from a Private Investment in Public Equity (PIPE) financing announced in October 2025, with an initial closing of approximately $81 million, which management stated extends the cash runway into the 2H 2028.

The primary patient groups Ovid Therapeutics Inc. is targeting are defined by the unmet need addressed by their pipeline assets, which modulate neuronal hyperexcitability.

• - Patients with drug-resistant focal onset seizures (DREs).
• - Patients with psychosis associated with Parkinson's disease and Lewy body dementia.
• - Patients with other neurological and neuropsychiatric conditions driven by neural hyperexcitability.
• - Pharmaceutical companies seeking novel CNS assets for regional rights.

For the drug-resistant epilepsies segment, Ovid Therapeutics Inc. is advancing OV329, a next-generation GABA-aminotransferase (GABA-AT) inhibitor. This patient group represents a substantial need, as an estimated 30% of epilepsy patients suffer from drug-resistant epilepsy. The focal seizures segment held the largest market share of 51% in the Epilepsy Drug Market in 2024. The company is planning the initiation of a Phase 2a patient study for OV329 in these drug-resistant epilepsies as early as Q1 2026 or Q2 2026.

The second major patient population centers around conditions driven by neuronal imbalance, specifically psychosis associated with Parkinson's disease and Lewy body dementia. This is being addressed via the KCC2 direct activator portfolio. Ovid Therapeutics Inc. projects the initiation of Phase 1b studies for OV4071, the oral KCC2 direct activator, in this indication around Q3 2026.

The broader category of other neurological and neuropsychiatric conditions is served by the entire KCC2 direct activator library, which aims to restore inhibitory tone in the brain. Key milestones here include the anticipated topline findings from the Phase 1 study of OV350 (Intravenous KCC2 Direct Activator) in Q4 2025. The company's focus on these CNS disorders is supported by recent asset monetization; for instance, a $7.0 million royalty monetization agreement for ganaxolone was signed with Immedica Pharma AB in June 2025.

The fourth segment involves other biopharma entities, which Ovid Therapeutics Inc. engages with for non-core asset monetization or potential regional rights deals. The royalty and licensing revenue for the nine months ended September 30, 2025, totaled $6.5 million, primarily stemming from an agreement with Takeda Pharmaceutical Company Limited. The company's market capitalization as of early October 2025 was approximately $116.62 million.

Here's a quick look at how the pipeline assets map to these customer-defining indications and the near-term data catalysts you should watch for:

Pipeline Asset	Mechanism/Class	Primary Target Customer Segment Indication	Key Near-Term Data Milestone (as of late 2025)
OV329	Next-generation GABA-AT inhibitor	Drug-resistant focal onset seizures (DREs)	Phase 1 results presented at AES 2025 meeting; Phase 2a initiation planned for Q1/Q2 2026.
OV350	KCC2 Direct Activator (IV)	CNS disorders driven by neuronal hyperexcitability	Phase 1 topline findings expected in Q4 2025.
OV4071	First-ever Oral KCC2 Direct Activator	Psychosis associated with Parkinson's/Lewy Body Dementia; other CNS disorders	First-in-human studies anticipated in Q2 2026; Phase 1b for psychosis projected for Q3 2026 start.

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Cost Structure

You're looking at the cost side of Ovid Therapeutics Inc. (OVID) as of late 2025, which is heavily weighted toward advancing its pipeline while managing a leaner operational footprint following prior restructuring. The primary cost drivers are the expenses tied directly to drug development and the overhead required to run a public, clinical-stage biopharma company.

The third quarter of 2025 (Q3 2025) financial results show a clear focus on R&D, though overall operating expenses were managed down year-over-year. Here's the quick math on the core operating costs for that quarter:

Cost Category	Q3 2025 Amount	Context/Driver
Research and Development (R&D) expenses	$5.9 million	Down from $7.9 million in Q3 2024, reflecting streamlined operations, including the pause of the OV888 (GV101) program.
General and Administrative (G&A) expenses	$6.8 million	Up from $5.5 million in Q3 2024, driven by specific non-routine costs.
Total Operating Expenses	$12.7 million	Down from $13.4 million in Q3 2024.

The structure of these costs reflects the company's current stage. You'll see that the G&A increase in Q3 2025, reaching $6.8 million, was specifically attributed to certain non-routine expenditures.

• Costs associated with maintaining and defending intellectual property: Ovid Therapeutics Inc. completed a strategic monetization of its ganaxolone asset in June 2025, selling worldwide royalty rights and licensing for $7.0 million. This deal included the transfer of the associated global ganaxolone intellectual property, with the buyer, Immedica Pharma AB, assuming responsibility for associated patent maintenance and prosecution costs. This move allowed Ovid Therapeutics Inc. to focus capital on its wholly owned pipeline and shed those specific IP upkeep expenses.
• Clinical trial costs and manufacturing of drug candidates: While specific Q3 2025 dollar amounts for clinical trial execution and drug candidate manufacturing aren't explicitly broken out separately from the R&D total of $5.9 million, the primary uses of capital are known to include third-party clinical research. The R&D spend supports active programs like the OV329 Phase 1 trial (with topline results in Q3 2025) and the OV350 Phase 1 study (results expected in Q4 2025).
• Compensation and professional fees, including non-routine business development fees: General and Administrative expenses primarily consist of employee-related costs, such as salaries, benefits, and stock-based compensation for executive and support functions. The increase in G&A to $6.8 million in Q3 2025 compared to the prior year was explicitly driven by non-routine business development professional fees. Other standard G&A costs include professional fees for auditing, tax, and legal services for operating as a public company.

Ovid Therapeutics Inc. (OVID) - Canvas Business Model: Revenue Streams

You're looking at how Ovid Therapeutics Inc. (OVID) is bringing in cash as of late 2025. For a company deep in clinical development, the revenue mix is often lumpy, relying on non-operational sources as much as product-adjacent income. Honestly, it's about bridging the gap until a wholly-owned asset gets across the finish line.

The core, recurring revenue stream is definitely tied to past deals. We saw royalty and licensing revenue totaling $6.5 million for the first nine months of 2025. That's a solid step up from the $0.5 million seen in the same nine-month period in 2024. To be fair, the third quarter itself was light on this front, bringing in only $0.1 million or $132,000 for the three months ending September 30, 2025. Still, that nine-month figure shows the importance of those existing agreements.

Ovid Therapeutics Inc. has also been strategic about monetizing non-core assets to bolster its balance sheet. The most recent, significant example was the sale of its future royalty rights for ganaxolone outside of China. This transaction, completed in June 2025, brought in proceeds of $7.0 million in cash from Immedica Pharma AB. This was a non-dilutive capital infusion, letting Ovid Therapeutics Inc. focus its internal capital on its wholly-owned pipeline, like OV329 and the KCC2 activators.

Here's a quick look at the key financial components feeding into the top line and capital structure as of late 2025:

Revenue/Financing Component	Amount/Value	Period/Date	Source Type
Royalty and Licensing Revenue (YTD)	$6.5 million	First nine months of 2025
Ganaxolone Royalty Sale Proceeds	$7.0 million	June 2025
Gross Proceeds from Private Placement	Up to $175 million	October 2025
Initial Gross Proceeds from Private Placement	Approximately $81 million	October 2025
Expected Cash Runway Funded Through	2028	Post-October 2025 Financing

Beyond operational revenue, the most impactful financial event for Ovid Therapeutics Inc.'s near-term runway was the equity financing. You saw the pricing of a Private Investment in Public Equity (PIPE) financing in October 2025, expected to bring in gross proceeds of up to $175 million. This deal was structured with an initial closing expected around October 6, 2025, yielding approximately $81 million before fees.

This capital infusion is defintely a game-changer for the business model, as it's intended to work alongside existing cash to fund the operating plan into 2028. This means Ovid Therapeutics Inc. has the financial backing to pursue key clinical catalysts without immediate pressure for further dilutive financing. The revenue streams, therefore, are a mix of:

• - Royalty and licensing revenue, totaling $6.5 million for the first nine months of 2025.
• - Upfront and milestone payments from strategic collaborations, which contribute to the overall licensing revenue.
• - Proceeds from the sale of non-core assets, like the $7.0 million ganaxolone royalty sale in June 2025.
• - Equity financing, including the October 2025 private placement of up to $175 million gross proceeds.