Quarterly ResultMay 12, 2026, 07:12 AM
Ovid Therapeutics Q1 Net Loss $17.0M; Cash $165.6M from Financing
AI Summary
Ovid Therapeutics reported a net loss of $17.0 million for Q1 2026, an increase from $10.2 million in Q1 2025, with no revenue generated. Research and development expenses rose significantly to $11.2 million. However, the company substantially strengthened its liquidity position, ending the quarter with $165.6 million in cash, cash equivalents, and marketable securities, largely due to $89.0 million raised through private placement, warrant exercises, and an ATM program.
Key Highlights
- Net loss for Q1 2026 was $17.0 million, up from $10.2 million in Q1 2025.
- Total revenue for Q1 2026 was $0, down from $0.13 million in Q1 2025.
- Research and development expenses increased to $11.2 million in Q1 2026 from $6.7 million in Q1 2025.
- General and administrative expenses rose to $6.7 million in Q1 2026 from $6.0 million in Q1 2025.
- Cash, cash equivalents, and marketable securities totaled $165.6 million as of March 31, 2026.
- Net cash provided by financing activities was $89.0 million for Q1 2026.
- Net cash used in operating activities was $13.9 million for Q1 2026.
- Total assets increased to $225.6 million as of March 31, 2026 from $150.9 million at Dec 31, 2025.