Ovid Therapeutics Inc. Segments Disclosure
| For the Year Ended December 31, | |||||||||||
| (in thousands) | 2025 | 2024 | |||||||||
| Revenue | $ | 7,252 | $ | 566 | |||||||
| Payroll and payroll-related expenses | 7,765 | 9,889 | |||||||||
| Direct program expenses | |||||||||||
| KCC2 library | 8,567 | 8,785 | |||||||||
| OV329 | 5,744 | 4,485 | |||||||||
| OV888 (GV101) | (224) | 8,212 | |||||||||
| Gensaic projects | — | 1,493 | |||||||||
| Other programs | 1,639 | 990 | |||||||||
| Total direct program expenses | 15,726 | 23,965 | |||||||||
| Other research and development expenses | 2,091 | 2,913 | |||||||||
| Total research and development expenses | 25,582 | 36,767 | |||||||||
| Payroll and payroll-related expenses | 10,043 | 13,835 | |||||||||
| Legal and professional fees | 8,280 | 6,573 | |||||||||
| General office expenses | 5,786 | 5,275 | |||||||||
| Total general and administrative expenses | 24,110 | 25,684 | |||||||||
| Total operating expenses | 49,691 | 62,451 | |||||||||
| Operating loss | (42,439) | (61,885) | |||||||||
Other (income) expense, net | 25,026 | 35,452 | |||||||||
| Net loss | $ | (17,414) | $ | (26,433) | |||||||
| For the Year Ended December 31, | |||||||||||
| (in thousands) | 2025 | 2024 | |||||||||
| Decrease in fair value of royalty monetization liability | $ | — | $ | 30,000 | |||||||
| Stock-based compensation expense | 4,807 | 6,276 | |||||||||
| Interest/accretion income on securities | 2,026 | 3,915 | |||||||||
| Severance expense | 882 | 3,508 | |||||||||
Gain from recovery of fraudulent funds transfer | 1,800 | — | |||||||||
| Loss on fraudulent funds transfer | — | 1,800 | |||||||||
| Unrealized net gain on equity investments | 21,052 | 3,337 | |||||||||
| Depreciation and amortization | 273 | 613 | |||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.