Ovid Therapeutics Inc. (OVID): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Plongez dans le monde innovant d'Ovide Therapeutics Inc., une entreprise de biotechnologie révolutionnaire révolutionnant le traitement des maladies neurologiques grâce à sa toile de modèle commercial stratégique. Avec une approche axée sur le laser sur des troubles neurologiques rares, Ovide transforme la recherche médicale en combinant les neurosciences de pointe, la médecine de précision et les stratégies de développement de médicaments centrées sur le patient. Leur modèle unique comble l'innovation scientifique avec des solutions thérapeutiques, promettant de l'espoir pour les patients confrontés à des défis neurologiques complexes et potentiellement de remodeler le paysage d'interventions médicales ciblées.

Ovid Therapeutics Inc. (OVID) - Modèle commercial: partenariats clés

Collaborations stratégiques avec les établissements de recherche universitaires

Institution	Focus de recherche	Année de partenariat
Hôpital général du Massachusetts	Troubles neurologiques rares	2022
Université de Pennsylvanie	Recherche d'épilepsie génétique	2021

Partenariats de développement pharmaceutique

Collaborations clés du développement:

• Takeda Pharmaceutical Company Limited - Rares programmes de maladies neurologiques
• Lundbeck A / S - Développement du médicament des troubles neurologiques

Accords de licence avec les entreprises de biotechnologie

Entreprise de biotechnologie	Détails de l'accord de licence	Valeur
Biosciences xénétiques	Plateforme thérapeutique de maladies rares	Paiement initial de 3,2 millions de dollars

Réglementation des processus d'approbation des médicaments

• Administration américaine de l'alimentation et du médicament (FDA)
• Agence européenne des médicaments (EMA)

Réseaux de recherche en essai clinique

Réseau	Domaine de mise au point	Essais actifs
Consortium Enigma	Recherche d'épilepsie génétique	4 essais cliniques en cours
Réseau d'épilepsie rare	Troubles neurologiques rares	3 collaborations de recherche active

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: activités clés

Développement de médicaments neurologiques rares

Depuis le Q4 2023, les thérapies Ovid se sont concentrées sur le développement de thérapies pour les troubles neurologiques rares avec 3 candidats au médicament primaire.

Drogue	Trouble cible	Étape de développement
OV101	Syndrome d'Angelman	Phase 2/3 essais cliniques
OV935	Épilepsies pédiatriques rares	Essais cliniques de phase 2

Recherche préclinique et clinique

Ovid Therapeutics a investi 24,3 millions de dollars en dépenses de R&D pour l'exercice 2023.

• Maintenu 12 programmes de recherche actifs
• Effectué 2 essais cliniques en cours
• Collaboré avec 3 institutions de recherche

Innovation thérapeutique en neuroscience

Spécialisé dans le développement de nouvelles thérapies neuroscientes avec Concentrez-vous sur les troubles génétiques.

Zone d'innovation	Focus de recherche
Thérapies génétiques	Troubles neurologiques rares
Ciblage moléculaire	Approche de la médecine de précision

Soumission et conformité réglementaires

Soumis 2 Applications d'enquête sur le médicament (IND) à la FDA en 2023.

• Maintenu le respect des réglementations de la FDA
• Engagé dans une communication réglementaire continue

Recherche en médecine translationnelle

Alloué 37% du budget de la recherche aux initiatives de médecine translationnelle.

Domaine de recherche	Allocation budgétaire
Études précliniques	8,7 millions de dollars
Développement de biomarqueurs	5,2 millions de dollars

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: Ressources clés

Équipe de recherche spécialisée en neurosciences

Depuis le quatrième trimestre 2023, Ovid Therapeutics a utilisé 52 membres du personnel de recherche et développement.

Catégorie de personnel	Nombre d'employés
Chercheurs de doctorat	23
Scientifiques des cliniciens	15
Associés de recherche	14

Plateformes de développement de médicaments propriétaires

Ovid Therapeutics a développé 2 plateformes de développement de médicaments primaires axé sur les troubles neurologiques rares.

• Plate-forme de thérapie génique ciblant les syndromes d'épilepsie rares
• Plate-forme d'intervention neurologique à petite molécule

Portefeuille de propriété intellectuelle

En décembre 2023, Ovid Therapeutics a tenu:

Type IP	Compte total
Brevets actifs	14
Demandes de brevet	8

Laboratoires de recherche avancés

Ovid Therapeutics fonctionne 1 installation de recherche primaire Situé à Boston, Massachusetts, s'étendant sur 12 500 pieds carrés.

Infrastructure d'essais cliniques

Portfolio actuel des essais cliniques à partir de 2024:

Phase de procès	Nombre d'essais actifs
Phase I	2
Phase II	3
Phase III	1

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: propositions de valeur

Traitements innovants pour les troubles neurologiques rares

Ovid Therapeutics se concentre sur le développement de thérapies pour les troubles neurologiques rares, avec un accent spécifique sur les domaines clés suivants:

Trouble	Étape de développement	Cible de la population de patients
Syndrome d'Angelman	Essai clinique de phase 2	Environ 1 personne sur 12 000 à 20 000
Syndrome X fragile	Recherche préclinique	Estimé 1 mâles sur 4 000

Solutions thérapeutiques ciblées pour les besoins médicaux non satisfaits

Le pipeline d'Ovid Therapeutics cible des conditions neurologiques spécifiques avec des options de traitement existantes limitées:

• Troubles neurologiques génétiques rares
• Conditions neurodéveloppementales
• Syndromes liés à l'épilepsie

Approche de la médecine de précision en neurosciences

Stratégie de ciblage génétique:

Plate-forme technologique	Approche génétique	Investissement en recherche
Modulation des récepteurs GABA	Ciblage génétique de précision	14,2 millions de dollars de dépenses de R&D (2023)

Thérapies révolutionnaires potentielles pour les conditions neurologiques

Les principaux candidats thérapeutiques en développement:

• OV101 (Gaboxadol) pour le syndrome d'Angelman
• TAK-935 pour les encéphalopathies développementales et épileptiques
• Plateformes d'intervention génétique de précision

Stratégies de développement de médicaments axées sur les patients

Métriques de développement clinique:

Métrique	Valeur
Programmes cliniques totaux	3 programmes actifs
Capacité d'inscription des patients	Environ 200 patients à travers des essais
Budget annuel de recherche clinique	22,5 millions de dollars

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: relations clients

Engagement direct avec les groupes de défense des patients

En 2024, Ovid Therapeutics maintient des partenariats stratégiques avec 7 organisations de défense des patients en troubles neurologiques rares.

Groupe de patients	Focus de la collaboration	Fréquence d'interaction annuelle
Alliance CDKL5	Soutien à la recherche	12 événements d'engagement
Fondation du syndrome de Dravet	Conscience des essais cliniques	8 programmes collaboratifs

Consultation et éducation professionnelles médicales

Ovid Therapeutics organise 45 séminaires éducatifs professionnels en médecine chaque année, ciblant les neurologues et les spécialistes de l'épilepsie.

• Programmes de formation accrédités par CME: 18
• Participation de la conférence virtuelle: 27 événements
• Entension directe des neurologues: 326 spécialistes

Programmes de soutien aux patients personnalisés

L'entreprise exploite une infrastructure de soutien aux patients dédiée avec 22 coordinateurs de soins spécialisés.

Service d'assistance	Portée annuelle	Temps de réponse
Service d'assistance aux patients	1 247 patients	Réponse 24h / 24
Aide financière	387 Applications des patients	Traitement de 5 jours

Communication transparente sur les développements cliniques

Ovid Therapeutics publie 14 mises à jour de développement clinique chaque année sur plusieurs canaux de communication.

• Communiqués de presse: 6 par an
• Présentations de la conférence des investisseurs: 4 par an
• Publications de revues scientifiques: 4 par an

Collaboration de recherche en cours avec la communauté médicale

La société maintient des collaborations de recherche actives avec 12 centres médicaux universitaires.

Institution de recherche	Type de collaboration	Investissement annuel
Université Johns Hopkins	Recherche CDKL5	$875,000
Département de neurologie de Stanford	Étude de mécanisme d'épilepsie	$650,000

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: canaux

Équipe de vente médicale directe

Depuis le quatrième trimestre 2023, Ovid Therapeutics maintient une force de vente spécialisée de 12 professionnels ciblant les centres de traitement neurologique et les spécialistes de maladies rares.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	12
Couverture géographique	États-Unis
Domaines d'intervention spécialisés	Troubles neurologiques rares

Centres de traitement neurologique spécialisés

Ovid Therapeutics collabore avec 47 centres de traitement neurologique spécialisés à travers les États-Unis.

• Top 5 des centres: Mayo Clinic, Johns Hopkins, Cleveland Clinic, Massachusetts General Hospital, UCSF Medical Center
• Focus primaire: épilepsie rare et troubles neurologiques génétiques

Plateformes de santé numérique

Les canaux de fiançailles numériques comprennent 3 plateformes en ligne primaires avec 8 752 professionnels de la santé enregistrés en décembre 2023.

Plate-forme numérique	Utilisateurs enregistrés
Ovidconnect	4,213
Réseau neuroprofessionnel	3,245
Portail numérique de maladies rares	1,294

Conférences médicales et symposiums

Ovid Therapeutics a participé à 22 conférences médicales en 2023, avec un engagement direct de 673 professionnels de la santé.

• Conférences clés: American Epilepsy Society Assemblée annuelle
• Conférence de la Société de neurologie des enfants
• Symposium international de recherche sur les maladies rares

Réseaux de publication de recherche en ligne

La société maintient la présence dans 6 principaux réseaux de publication de recherche avec 215 documents de recherche publiés en 2023.

Réseau de recherche	Recherche publiée
Pubment	87
Researchgate	62
Google Scholar	66

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: segments de clientèle

Patients de troubles neurologiques

Taille du marché pour les troubles neurologiques rares: 25 à 30 millions de patients aux États-Unis

Type de trouble	Population estimée des patients
Syndromes d'épilepsie rares	500 000 patients
Syndrome d'Angelman	Environ 15 000 patients

Spécialistes de la neurologie pédiatrique

Nombre de neurologues pédiatriques aux États-Unis: 1 400 spécialistes certifiés du conseil d'administration

• Consultations annuelles moyennes des patients: 750-1 000 par spécialiste
• Concentration dans les centres médicaux académiques: 60% des spécialistes

Centres de recherche de maladies rares

Nombre total de centres de recherche sur les maladies rares dédiées aux États-Unis: 87

Type de centre de recherche	Nombre de centres
Centres médicaux académiques	53
Instituts de recherche indépendants	34

Fournisseurs de soins de santé

Installations totales de soins neurologiques aux États-Unis: 2 300

• Cliniques de neurologie spécialisées: 680
• Centres d'épilepsie complètes: 139

Organisations de défense des patients

Nombre de groupes de plaidoyer de patients en troubles neurologiques rares: 215

Focus de plaidoyer	Nombre d'organisations
Groupes de soutien à l'épilepsie	87
Réseaux de troubles génétiques rares	128

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, Ovid Therapeutics a déclaré des dépenses totales de R&D de 36,4 millions de dollars.

Année	Dépenses de R&D
2022	36,4 millions de dollars
2021	44,5 millions de dollars

Investissements d'essais cliniques

Les coûts des essais cliniques pour les thérapies Ovid en 2022 étaient d'environ 24,7 millions de dollars.

• Focus primaire sur les troubles neurologiques rares
• Essais en cours pour l'épilepsie et les conditions génétiques rares

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire pour 2022 ont totalisé environ 3,2 millions de dollars.

Acquisition du personnel et des talents

Année	Compensation totale des employés
2022	18,6 millions de dollars
2021	22,1 millions de dollars

Entretien de la propriété brevet et intellectuelle

Les coûts annuels de maintenance de la propriété intellectuelle étaient d'environ 1,5 million de dollars en 2022.

• Coûts opérationnels totaux pour 2022: 84,4 millions de dollars
• Réduction des dépenses globales par rapport à l'année précédente

Ovid Therapeutics Inc. (OVID) - Modèle d'entreprise: Strots de revenus

Accords potentiels de licence de médicament

En 2023, Ovid Therapeutics n'a signalé aucun accord de licence de médicament actif générant des revenus importants.

Ventes de produits pharmaceutiques futures

Ovid Therapeutics a déclaré un chiffre d'affaires total de 11,4 millions de dollars pour l'exercice 2022, principalement des collaborations de recherche et développement.

Produit candidat	Zone thérapeutique	Étape de développement	Valeur marchande potentielle
OV101	Syndrome d'Angelman	Étape clinique	Estimé 250 à 500 millions de dollars
OV935	Épilepsies rares	Préclinique	Estimé 150 à 300 millions de dollars

Subventions et financement de recherche

En 2022, Ovid a reçu un financement de recherche et des subventions totalisant environ 3,2 millions de dollars.

Partenariats de recherche collaborative

• Partenariat avec Takeda Pharmaceutical pour des programmes d'épilepsie rares
• Collaboration avec la Fondation CHDI pour la recherche sur la maladie de Huntington

Payments de jalons potentiels du développement de médicaments

Les paiements potentiels de jalons provenant des partenariats existants pourraient se situer entre 10 et 50 millions de dollars en fonction des progrès du développement.

Partenaire	Paiements de jalons potentiels	Conditions
Takeda Pharmaceutique	Jusqu'à 25 millions de dollars	Réalisations du développement clinique
Fondation CHDI	Jusqu'à 15 millions de dollars	Jalons de progression de la recherche

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.