Ovid Therapeutics Inc (NASDAQ: OVID) is a clinical-stage biopharmaceutical company focused on developing treatments for neurological diseases. Revenue is generated through license and other arrangements, as disclosed in the FY2025 and FY2024 income statements filed March 18, 2026. The company is pre-commercial, operating at a net loss of $17.4 million for the year ended December 31, 2025, compared to a net loss of $26.4 million for the year ended December 31, 2024. Cash used in operating activities was $38.3 million for FY2025. The company raised $75.2 million in net proceeds through a 2025 Private Placement to fund operations. Ovid is headquartered at 441 Ninth Avenue, New York, New York, under a ten-year lease that commenced March 2022. The capital structure is equity-financed, with no dividend payments disclosed in the filing. The company holds investments in U.S. treasuries as its primary investment vehicle, with $49.9 million deployed in FY2025.

Revenue model

License and other revenue, as reported in the consolidated statements of operations for FY2025 and FY2024. The company does not disclose product sales revenue, indicating a pre-commercial stage with income derived from licensing arrangements.

Products and services

The filing references clinical development programs and clinical trial data but does not name specific drug candidates or product brands in the excerpts provided.

Customers and end markets

End markets are in neurological disease treatment based on the company's stated focus. Specific customer names, customer concentration data, or end-market revenue breakdowns are not disclosed in the provided filing excerpts.

Value-chain role

Drug developer operating upstream of commercialization. The company conducts clinical trials using third-party vendors, principal investigators, and collaborators, and holds intellectual property and trade secrets as core assets.

Geographic exposure

Headquartered in New York, New York. The filing references non-U.S. regulators and a cumulative translation adjustment in other comprehensive income, indicating some international operations or activities, but no geographic revenue breakdown is disclosed.

Source: SEC 10-K, filed 2026-03-18

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