Ovid Therapeutics

What Ovid Therapeutics does

Ovid Therapeutics is a clinical-stage biopharmaceutical company founded in 2014 and headquartered in New York, listed on NASDAQ under ticker OVID. The company develops small molecule medicines targeting rare neurological diseases characterized by neuronal hyperexcitability, with a primary focus on treatment-resistant epilepsies and neuropsychiatric conditions including psychosis in Parkinson's disease and Lewy body dementia. Ovid's pipeline is anchored by two proprietary platforms: OV329, a next-generation GABA-aminotransferase (GABA-AT) inhibitor licensed from Northwestern University that targets treatment-resistant seizures with a differentiated safety profile versus vigabatrin (no ophthalmic toxicity observed in Phase 1); and the OV4071/KCC2 portfolio, a first-in-class franchise of direct KCC2 chloride transporter activators licensed from AstraZeneca, with OV4071 being 20-fold more potent than its predecessor OV350 in pharmacodynamic models. Additional pipeline assets include OV888 (a ROCK2 inhibitor partnered with Graviton Bioscience) and a historical interest in soticlestat (a CH24H inhibitor now fully owned by Takeda, generating milestone and royalty income).

The company operates a pre-revenue business model, monetizing its pipeline through two channels: potential future direct commercialization or out-licensing of OV329 and the KCC2 portfolio, and existing milestone/royalty streams from Takeda on soticlestat (up to $660M in milestones plus tiered royalties up to 20%). FY2025 revenue of approximately $7.25M derived almost entirely from these milestone payments, with a net loss of $17.4M (improved from $26.4M in FY2024). As of December 2025, Ovid held $90.4M in cash and marketable securities, supplemented by approximately $113.9M raised through a March 2026 PIPE and April 2026 warrant exercises, extending cash runway into late 2028. The company plans Phase 2 trials for OV329 in drug-resistant adult focal onset seizures in Q2 2026, while OV4071 has received Australian regulatory approval for Phase 1 trials. Leadership transitioned in January 2026 with Meg Alexander assuming the CEO role and founder Jeremy Levin becoming Executive Chairman.

Name

Ovid Therapeutics

Legal name

Ovid Therapeutics Inc.

Website

https://ovidrx.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Ovid Therapeutics is a clinical-stage biopharmaceutical company developing small molecule medicines for rare neurological diseases, primarily treatment-resistant epilepsies and psychosis in Parkinson's disease and Lewy body dementia. Its pipeline includes OV329 (a GABA-AT inhibitor) and OV4071 (a first-in-class KCC2 activator).

Ownership category

akta.pro rank

Product category

Biopharmaceuticals (Rare Neurological Disease Therapeutics)

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Neurology & CNS Specialty Pharmaceuticals (HLAIACAC)

Keywords

• Rare neurological therapeutics
• Epilepsy drug development
• Small molecule pharmaceuticals
• KCC2 activator pipeline
• Neurodegenerative disease medicines

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Pharmaceutical Product Revenue: Pre-revenue clinical-stage biopharmaceutical company. Revenue is expected upon regulatory approval and commercialization of OV329, OV4071, or other pipeline candidates. The company has out-licensed soticlestat to Takeda (receiving upfront, milestone, and royalty payments) and retains rights to OV329 and the KCC2 portfolio for development and commercialization.
2. Milestone and Royalty Payments (Soticlestat): Ovid receives milestone payments and tiered royalties on net sales of soticlestat at percentages ranging from low double-digits up to 20 percent, subject to standard reductions in certain circumstances, plus up to $660 million in development, regulatory, and sales milestones from Takeda.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Ovid Therapeutics is a clinical-stage biopharmaceutical company developing a pipeline of small molecule medicines for rare and treatment-resistant neurological diseases. Its lead programs are OV329, a next-generation GABA-aminotransferase inhibitor for drug-resistant focal onset seizures, tuberous sclerosis complex, and infantile spasms, and OV4071, a first-in-class oral direct activator of the KCC2 chloride cotransporter for psychosis associated with Parkinson's disease and Lewy body dementia. The company also holds milestone and royalty rights to soticlestat, a CH24H inhibitor now commercialized by Takeda.

Product overview

Ovid Therapeutics is a biopharmaceutical company developing a pipeline of small molecule medicines for rare neurological diseases and brain conditions. The company's product portfolio includes: OV329, a next-generation GABA-aminotransferase inhibitor for treatment-resistant epilepsies; OV4071, an oral KCC2 direct activator for psychosis associated with Parkinson's disease and Lewy body dementia; OV350, an intravenous KCC2 tool program; OV888, a ROCK2 inhibitor for neurological conditions; and licensed assets including soticlestat (CH24H inhibitor). These programs utilize first-in-class or potential best-in-class mechanisms of action to restore neuronal homeostasis by reducing hyperexcitability in the brain.

Differentiator

Problem solved

Functional benefit

Brands

• BoldMedicine: Ovid's approach to developing therapies to transform lives of individuals with rare neurological diseases

Products and services

• OV329 OV329 is a next-generation GABA-aminotransferase (GABA-AT) inhibitor being developed as a potential medicine for rare and treatment-resistant forms of epilepsy and seizures, including drug-resistant adult focal onset seizures, tuberous sclerosis complex (TSC), and infantile spasms. It is significantly more potent than prior GABA-AT inhibitors and has shown a strong safety profile with no observed ophthalmic safety findings or retinal changes, differentiating it from vigabatrin (SABRIL). Phase 2 trials in drug-resistant adult focal onset seizures are planned for Q2 2026.
• OV4071 (Oral KCC2 Direct Activator) OV4071 is the lead oral direct activator in Ovid's KCC2 portfolio, being developed for the treatment of psychosis associated with Parkinson's disease and Lewy body dementia. It performs with twenty-fold greater potency than OV350 in pharmacodynamic models. Direct KCC2 activation is intrinsically self-limiting, supporting potential chronic use. OV4071 received Australian HREC and TGA Phase 1 regulatory clearance, with Phase 1 trials ongoing in Australia.
• OV350 (IV KCC2 Tool Program) OV350 is the first-in-human KCC2 direct activator and intravenous tool program. Its Phase 1 study met primary safety, tolerability, and pharmacokinetic objectives in healthy volunteers, providing important human validation of KCC2 as a druggable target and de-risking the path for OV4071. OV350 is part of the broader proprietary KCC2 direct activator library covering neurological, neurodevelopmental, and psychiatric conditions.
• OV888 (ROCK2 Inhibitor) OV888 is a selective, small-molecule ROCK2 inhibitor with blood-brain barrier penetrance being developed for the treatment of a broad range of neurological conditions marked by seizures, spasms, and related symptoms. OV888 is being advanced under a collaboration and license agreement with Graviton Bioscience Corporation signed in April 2023, with Graviton responsible for development through end of Phase 2 under a joint development committee and Ovid responsible for post-Phase 2 development and commercialization.
• Soticlestat (Licensed to Takeda) Soticlestat is a highly selective, first-in-class CH24H (cholesterol 24-hydroxylase) inhibitor with potential to reduce seizure susceptibility and improve seizure control in rare developmental and epileptic encephalopathies (DEE). It is now fully owned and commercialized by Takeda following the March 2021 Royalty, License and Termination Agreement, under which Ovid retains milestone payments and tiered royalties on net sales.

Quantifiable outcome

• Phase 1 data for OV329 showed favorable safety and tolerability with no treatment-related adverse events at 7 mg dose cohort
• +4 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and supporting.

• Graviton Bioscience CorporationcoreStrategic or Co-development Partner · 1 April 2023In April 2023, Graviton and Ovid entered into a collaboration and license agreement to advance OV888 and other selective, small-molecule ROCK2 inhibitors with blood-brain barrier penetrance for neurological conditions marked by seizures, spasms, and related symptoms. Graviton is responsible for conducting development through the end of Phase 2 trials under oversight of a joint development committee. Ovid is responsible for post-Phase 2 development and commercialization and bears all costs.
• GensaicsupportingStrategic or Co-development Partner · 1 August 2022In August 2022, Ovid entered into a collaboration and option agreement with Gensaic for the research and development of phage-derived particle (PDP) products on Gensaic's proprietary platform for certain central nervous system rare disorder targets.
• Tufts UniversitysupportingStrategic or Co-development Partner · 3 January 2022Ovid continues a research collaboration with Tufts Laboratory and Dr. Jamie Maguire to progress the KCC2 compound library. Tufts and AstraZeneca previously collaborated on OV350 studies, and Ovid is leveraging the ongoing Tufts relationship as it advances its KCC2 portfolio including OV4071.
• AstraZenecacoreStrategic or Co-development Partner · 30 December 2021On December 30, 2021, Ovid entered into an exclusive license agreement with AstraZeneca for a portfolio of early-stage, small molecule compounds targeting the KCC2 transporter, including OV350, for all human therapeutic uses worldwide. Ovid obtained all rights and is responsible for all future development and commercialization of KCC2 transporter activators.
• Columbia University Irving Medical CentersupportingStrategic or Co-development Partner · 1 June 2020In June 2020, Ovid and Columbia University Irving Medical Center began a strategic research collaboration to advance genetic-based therapies for rare neurological conditions. Columbia contributes expertise in rare disease genetics and clinical understanding of rare neurological diseases, while Ovid provides discovery, translational, and clinical development expertise in neurodevelopmental disorders and rare epilepsies.
• Takeda Pharmaceutical CompanycoreStrategic or Co-development Partner · 1 January 2017In January 2017, Takeda and Ovid entered into a License and Collaboration agreement for soticlestat (CH24H inhibitor). In March 2021, Ovid entered into a Royalty, License and Termination Agreement with Takeda, terminating the original agreement. Takeda secured Ovid's 50% global share in soticlestat, assuming all development and commercialization responsibility and costs. Ovid received $196M upfront and is eligible for up to $660M in milestones plus tiered royalties (low double-digits up to 20%) on net sales.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Biogen: Major biopharmaceutical company with established neurology franchise including multiple sclerosis and rare disease treatments. Larger incumbent with greater resources for CNS drug development and commercialization.
• Jazz Pharmaceuticals: Specialty biopharmaceutical company with significant neurology and psychiatry portfolio, including epilepsy treatments. Broader incumbent with established CNS franchise and commercialization infrastructure.
• UCB SA: Global biopharmaceutical company with significant neurology franchise including approved epilepsy treatments (Briviact, Vimpat). Broader incumbent with established commercialization capabilities and competing products in Ovid's target indications.

Direct peers

• Marinus Pharmaceuticals: Specializes in developing treatments for seizure disorders, with lead asset ganaxolone approved for seizures associated with CDKL5 deficiency disorder. Direct peer in the rare epilepsy space with similar development focus and patient populations.
• Sage Therapeutics: Clinical-stage CNS-focused biopharmaceutical company that developed zuranolone (ZURZUVAE) for postpartum depression, with pipeline targeting neurological and psychiatric disorders. Directly comparable as a small-cap CNS-focused biotech with similar development approach and target markets.
• Xenon Pharmaceuticals: Clinical-stage biopharmaceutical company developing treatments for epilepsy and other neurological disorders, with lead programs in Phase 3 development. Direct competitor in the epilepsy treatment space with similar small-molecule approach.
• Praxis Precision Medicines: Clinical-stage biopharmaceutical company developing therapies for central nervous system disorders including epilepsy. Direct peer with similar focus on rare neurological diseases and small-molecule drug development approach.
• Longboard Pharmaceuticals: Clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases, recently acquired by Lundbeck. Direct peer in CNS drug development with similar pipeline focus.

Others

• AstraZeneca: Global pharmaceutical company that licensed the KCC2 portfolio to Ovid. Strategic licensor with broader CNS and rare disease interests that could influence future development and commercialization of KCC2 activators.
• Takeda Pharmaceutical: Global pharmaceutical company that is both a partner (holds soticlestat rights) and a potential competitor in the CNS space. Strategic partner with broader portfolio that could compete with Ovid's pipeline in overlapping indications.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/OvidRx
• YouTubeyoutube.com/channel/OvidTherapeutics
• Facebookfacebook.com/1431471697149330
• LinkedInlinkedin.com/company/ovid-therapeutics
• Instagraminstagram.com/ovidtherapeutics

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds9 records

Investors24 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ovid Therapeutics