Ovid Therapeutics Inc.
OVID · Pharmaceutical Preparations · 186.6M shares · +10%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.45 · est. market cap ~$271M — last insider sale, 2026-02-23 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — neurology clinical, well-funded.
Strengths
- Liquidity — current ratio 9.0 (77th)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Chronic dilutionShare count +10%/yr over 2y (dilution, book value/share -59%)
- Cash burnNegative free cash flow (-38.3M)
- Material weakness• We have previously identified material weaknesses in our internal control over financial reporting
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -240.1%)
- Strong balance sheetStrong balance sheet — $111M cash & investments, ~12 quarters of runway
- Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Revenue declineRevenue -100.0% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-585.2%
Net margin
-240.1%
Return on equity
-13.3%
Return on assets
-11.5%
Revenue growth (QoQ)
-100.0%
Current ratio
9.0×
Free cash flow
-$38M
EBITDA
-$42M
Tangible book value
$131M
Cash & investments
$111M
Cash runway
12q
Stock comp / revenue
66.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-07 | Fitzgerald Kevin Joseph | Grant | 18K | $2.56 |
| 2026-04-07 | Friedman Bart | Grant | 8.8K | $2.56 |
| 2026-04-07 | PAPADOPOULOS STELIOS | Grant | 18K | $2.56 |
| 2026-03-23 | LEVIN JEREMY M | Option exercise | 47K | $1.40 |
| 2026-02-26 | Rona Jeffrey A | Grant | 68K | — |
| 2026-02-23 | ALEXANDER MARGARET A. | Sell | 12K | $1.45 |
| 2026-02-23 | Rona Jeffrey A | Sell | 8.5K | $1.45 |
| 2025-12-15 | LEVIN JEREMY M | Conversion | 71K | — |
| 2025-12-08 | TAKEDA PHARMACEUTICAL CO LTD | Conversion | 1.2M | — |
| 2025-02-26 | ALEXANDER MARGARET A. | Sell | 5.3K | $0.56 |
| 2025-02-26 | Rona Jeffrey A | Sell | 3.9K | $0.56 |
| 2025-02-20 | Rona Jeffrey A | Grant | 44K | — |
| 2025-02-20 | ALEXANDER MARGARET A. | Grant | 44K | — |
| 2025-01-27 | ALEXANDER MARGARET A. | Buy | 6.8K | $0.73 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-11 | Shareholder vote | filing ↗ |
| 2026-06-03 | Exec/director change | filing ↗ |
| 2026-05-12 | Exhibits | filing ↗ |
| 2026-04-20 | Other | filing ↗ |
| 2026-03-18 | Material agreementResults3.02Exhibits | filing ↗ |
| 2025-12-18 | OtherExhibits | filing ↗ |
| 2025-12-11 | Shareholder vote | filing ↗ |
| 2025-11-12 | ResultsExec/director changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-11 | 0001628280-26-042396 ↗ |
| 8-K | 2026-06-03 | 2026-05-29 | 0001628280-26-040038 ↗ |
| 10-Q | 2026-05-12 | 2026-03-31 | 0001628280-26-033864 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001628280-26-033859 ↗ |
| 8-K | 2026-04-20 | 2026-04-17 | 0001628280-26-025926 ↗ |
| 8-K | 2026-03-18 | 2026-03-17 | 0001628280-26-019045 ↗ |
| 10-K | 2026-03-18 | 2025-12-31 | 0001628280-26-019438 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001193125-25-323798 ↗ |
| 8-K | 2025-12-11 | 2025-12-11 | 0001636651-25-000017 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0001636651-25-000012 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001636651-25-000011 ↗ |
| 8-K | 2025-10-03 | 2025-10-02 | 0001193125-25-230409 ↗ |