10-Q - Ovid Therapeutics Inc. (0001636651) (Filer)

Tue, May 13, 12:09 PM (31 days ago)

**Ovid Therapeutics Inc. (OVID) Q1 2025 Financial Summary** **Financial Performance (in thousands):** - **Revenue:** $130 (Q1 2025) vs. $148 (Q1 2024) - **Operating Expenses:** $12,680 (Q1 2025) vs. $17,565 (Q1 2024) - **Research and Development:** $6,659 (Q1 2025) vs. $10,397 (Q1 2024) - **General and Administrative:** $6,021 (Q1 2025) vs. $7,168 (Q1 2024) - **Net Loss:** $10,235 (Q1 2025) vs. $11,694 (Q1 2024) - **Cash, Cash Equivalents, and Marketable Securities:** $43.0 million (Q1 2025) **Key Metrics:** - **Cash Burn:** $10.3 million (Q1 2025) - **Cash Position:** $43.0 million (Q1 2025) - **Accumulated Deficit:** $314.5 million (Q1 2025) **Trends and Uncertainties:** - **Revenue Decline:** 18% decrease in revenue from Q1 2024 to Q1 2025. - **Expense Reduction:** Significant decrease in operating expenses, driven by reductions in R&D and G&A costs. - **Cash Position:** Adequate cash position to fund operations for at least the next 12 months. - **Future Funding:** Potential need for additional capital to support long-term operations and development programs. **Future Operations Impact:** - **Operational Focus:** Continued focus on developing small molecule medicines for brain conditions with significant unmet need. - **Financial Strategy:** Plans to finance operations through a combination of equity offerings, debt financings, and additional funding from license and collaboration arrangements. - **Risk Factors:** Dependence on additional capital, regulatory approvals, market acceptance, and competitive landscape. **Conclusion:** Ovid Therapeutics Inc. (OVID) reported a net loss of $10.2 million for Q1 2025, with a significant reduction in operating expenses compared to Q1 2024. The company maintains a cash position of $43.0 million, sufficient to fund operations for at least the next 12 months. Future operations will focus on developing novel medicines, with a financial strategy that includes potential equity offerings and debt financings. The company faces risks related to regulatory approvals, market acceptance, and competition, which could impact its financial performance and operational strategies.