Ovid Therapeutics Q1 net loss widens as R&D spending rises

Ovid Therapeutics

Ovid Therapeutics

OVID

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Overview

  • US biopharma firm reported a wider net loss year-over-year

  • Higher R&D spending drove increased operating expenses as clinical programs expanded


Outlook

  • Ovid expects current cash resources to fund operations into 2029


Result Drivers

  • R&D EXPANSION - Higher research and development expenses driven by increased preclinical and clinical study activities for OV329 and OV4071

  • PIPELINE PROGRESS - Initiation of Phase 1 study for OV4071 and expansion of OV329 into new pediatric indications contributed to higher costs


Company press release: ID:nGNX2KNhJb


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 EPS

-$0.12

Q1 Net Income

-$16.99 mln

Q1 Operating Expenses

$17.85 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 79.2% above its May 11 closing price of $2.79


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