Ovid Therapeutics 2025 Q3 Earnings Net Loss Narrows 13.2% to $12.16M

Ovid Therapeutics (NASDAQ: OVID) reported its fiscal 2025 Q3 earnings on Nov 13, 2025, with results falling short of expectations. The company missed both earnings and revenue estimates, signaling ongoing challenges in its financial performance. Strategic updates include a leadership transition with Meg Alexander set to become CEO in 2026, alongside a $81M private placement to extend operational runway into 2028.

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## Revenue

Ovid Therapeutics reported total revenue of $132,000 for Q3 2025, a 23.7% decline from $173,000 in Q3 2024. The revenue primarily stemmed from royalty and licensing agreements, reflecting a significant drop in recurring income streams.

## Earnings/Net Income

The company narrowed its net loss to $12.16 million for Q3 2025, a 13.2% improvement from $14.01 million in Q3 2024. Earnings per share (EPS) improved to -$0.17, up from -$0.20, demonstrating progress in cost management. The narrowed net loss and improved EPS indicate progress in cost control and operational efficiency.

## Post-Earnings Price Action Review

Following the earnings report, Ovid Therapeutics’ stock price declined sharply across multiple time frames. Shares dropped 7.69% during the latest trading day, 9.77% over the previous full trading week, and plummeted 31.43% month-to-date. The market’s negative reaction underscores concerns over the company’s ability to meet financial targets and execute its strategic vision.

## CEO Commentary

Dr. Jeremy Levin, transitioning to Executive Chairman, highlighted progress in clinical programs and disciplined execution. Meg Alexander, incoming CEO, emphasized momentum in advancing OV329 into Phase 2 trials and expanding the KCC2 activator pipeline. Leadership remains focused on de-risking the portfolio and extending capital runway through strategic financing.

## Guidance

Ovid Therapeutics expects to incur continued operating losses as it invests in clinical development. The company aims to initiate Phase 2 trials for OV329 in Q2 2026 and complete IND filings for OV4071 by Q1 2026. Management reiterated confidence in its capital position, with current funds and private placement proceeds supporting operations through 2028.

## Additional News

1. Leadership Transition: Meg Alexander will assume CEO duties in 2026, ensuring continuity during critical clinical milestones.

2. Capital Raise: A $81M private placement in October 2025 extended the company’s runway into 2028, bolstering confidence in its ability to advance its pipeline.

3. Clinical Progress: Positive Phase 1 results for OV329 demonstrated robust GABA-AT inhibition and safety, paving the way for Phase 2 trials in drug-resistant epilepsy.

Ovid Therapeutics continues to balance high R&D expenditures with strategic milestones, positioning itself for potential growth in the neurological therapeutics sector.