Ovid Therapeutics Q2 revenue beats estimates

Ovid Therapeutics

13/08/2026 13:44

Overview
US biopharma firm's Q2 revenue beat analyst expectations
Company posted Q2 net loss as operating expenses rose on clinical study activity
Ovid secured equity and potential milestone payments from soticlestat transaction

Outlook
Company expects cash runway to support operations into 2029
Ovid anticipates results from OV329 photosensitivity study near year end 2026
Company expects to complete OV329 treatment-resistant FOS study in second half of 2027

Result Drivers
INCREASED R&D SPENDING - Higher research and development expenses were driven by elevated preclinical and clinical study activities for OV329 and OV4071
HIGHER ADMINISTRATIVE COSTS - General and administrative expenses rose due to accounting, legal, business development and professional fees, partially offset by lower payroll costs
SOTICLESTAT TRANSACTION - Ovid secured equity and potential milestone payments and royalties from the transfer of soticlestat rights to a new company

Company press release: ID:nGNX2c21Cv

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$733,000
$0 (9 Analysts)
Q2 Loss Per Share
 
$0.08
 
Q2 Net Loss
 
$15.009 mln
 
Q2 Operating Expenses
 
$16.43 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 10 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Ovid Therapeutics Inc. is $5.00, about 90.8% above its August 12 closing price of $2.62

Reuters Recommended Reads
Aug 11 - Prelude Therapeutics Q2 revenue beats analyst expectations, net loss narrows
Aug 10 - Biotech firm Nkarta posts Q2 net loss; cash runway into 2029
Aug 13 - Cabaletta Bio Q2 net loss widens as R&D costs rise

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)