Ovid Therapeutics Inc. reported second quarter 2026 financial results and business updates on August 13, 2026. The company reported a net loss of $15.0 million, or $0.08 per share, compared to a $4.7 million loss in the prior year period. Cash, cash equivalents, and marketable securities totaled $169.8 million as of June 30, 2026, providing an expected financial runway into 2029. Pipeline updates include advancing OV4071 through Phase 1 studies for schizophrenia and initiating Phase 2 proof-of-concept studies for the GABA-AT inhibitor OV329 in treatment-resistant focal onset seizures. Additionally, Ovid secured equity and potential milestone payments totaling up to $294.5 million from a new company formed by Perceptive Advisors to commercialize soticlestat. The executive team was strengthened with appointments of Kevin Norrett as Chief Business Officer and Eliseo Salinas, MD, as Executive R&D Advisor. Ovid Therapeutics Inc. is a biopharmaceutical company developing small molecule medicines for neurological and neuropsychiatric disorders.

Ovid Therapeutics Inc. announced an executive transition where Jeffrey Rona, the Chief Business and Financial Officer, principal financial officer, principal accounting officer, and secretary, will transition from his roles effective July 6, 2026. Charles Carter, previously the Company's Senior Vice President of Finance and Financial Planning, has been appointed as the new Chief Financial Officer, principal financial officer, principal accounting officer, and secretary, effective July 6, 2026. Mr. Carter's compensation package includes a $460,000 annual base salary, a 35% target cash bonus, and a 50,000 share restricted stock unit award. Ovid Therapeutics Inc. is a biotechnology company focused on developing and commercializing therapeutic solutions for neurological and psychiatric disorders.