OVID THERAPEUTICS Business Summary

Ovid Therapeutics Inc. is a clinical-stage biopharmaceutical company specializing in small molecule therapies for rare neurological and neuropsychiatric disorders. The company generates revenue primarily through strategic licensing agreements, milestone payments, and royalty monetization, such as its agreement with Immedica Pharma for ganaxolone royalties. Its business model centers on two high-potential platforms: the GABA-aminotransferase (GABA-AT) inhibitor program, led by OV329 for drug-resistant focal seizures, and a first-in-class KCC2 direct activator portfolio, featuring the oral candidate OV4071. Ovid competes directly with Marinus Pharmaceuticals, Xenon Pharmaceuticals, and Longboard Pharmaceuticals in the refractory epilepsy market. Relative to these peers, Ovid distinguishes itself by targeting novel mechanisms of neuronal hyperexcitability—specifically KCC2 activation—to restore inhibitory tone in the brain, positioning itself as a pioneer in non-traditional anti-seizure pathways. The company is led by Chief Executive Officer Meg Alexander, who assumed the role in January 2026 after serving as President and COO, and Executive Chairman Dr. Jeremy M. Levin, a former CEO of Teva Pharmaceutical Industries and Bristol-Myers Squibb executive who co-founded Ovid alongside neuroscientist Dr. Matthew During. The executive suite includes Chief Medical Officer Dr. Petra Kaufmann, a rare disease expert formerly of the NIH and AveXis, and Chief Scientific Officer Dr. Zhong Zhong. Ovid’s strategic direction is supported by a high-pedigree board featuring biotech veteran Dr. Stelios Papadopoulos and Yale School of Medicine Dean Robert J. Alpern. The firm is backed by prominent institutional investors, recently securing up to $175 million in a private placement (PIPE) led by healthcare-focused funds to extend its cash runway into 2028.