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Mar 31, 2025
Ovid Therapeutics Q1 2025 Earnings Report
Ovid Therapeutics reported its Q1 2025 earnings with a net loss of $10.235 million and total revenue of $0.130 million.
Key Takeaways
Ovid Therapeutics Inc. reported a net loss of $10.235 million for Q1 2025, an improvement from the $11.694 million loss in Q1 2024. Total revenue for the quarter was $0.130 million, primarily from license and other revenue. The company's cash and cash equivalents stood at $21.136 million, with total assets of $81.654 million.
Net loss improved to $10.235 million in Q1 2025 from $11.694 million in Q1 2024.
Total revenue was $0.130 million, consisting solely of license and other revenue.
Research and development expenses decreased by $3.738 million compared to the prior year, primarily due to the pause of the OV888 (GV101) program and reduced preclinical expenses for OV329.
General and administrative expenses decreased by $1.147 million due to organizational restructuring and other cost reductions.
The company's cash, cash equivalents, and marketable securities totaled $43.0 million as of March 31, 2025.
Revenue by Segment
Forward Guidance
Ovid Therapeutics expects to continue incurring significant expenses and operating losses for at least the next several years. The company believes its existing cash, cash equivalents, and marketable securities will be sufficient to fund current operating plans through at least the next 12 months from the filing date of this Quarterly Report on Form 10-Q.
Positive Outlook
- Continued preclinical and clinical development of drug candidates.
- Building a portfolio of drug candidates through acquisition or in-license.
- Initiating preclinical studies and clinical trials for additional drug candidates.
- Seeking marketing approvals for successful drug candidates.
- Establishing sales, marketing, and distribution infrastructure for commercialization.
Challenges Ahead
- Potential for significant fluctuations in net losses from period to period.
- Uncertainty regarding the timing and costs of clinical trial programs.
- Risk of not achieving profitability due to ongoing operating losses.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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