---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-036859"
form_type: "8-K"
ticker: "OVID"
cik: "0001636651"
company_name: "Ovid Therapeutics Inc."
filed_at: "2024-08-13T23:59:59+00:00"
generated_at: "2026-05-31T09:44:00.917958+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ovid Therapeutics cuts workforce 43%, suspends OV329 IV, reports Q2 net income of $8.5M on $77M cash

## Summary
- Reduced headcount by 17 employees (43%) to prioritize core programs; expects $3.4M cash restructuring costs through mid-2025.
- Suspended OV329 IV program for refractory status epilepticus; oral OV329 Phase 1 MAD results due H2 2024.
- Appointed Dr. Amanda Banks as Chief Development Officer in July 2024.
- Q2 2024 net income of $8.5M ($0.12 EPS) vs net loss of $12.4M ($0.18 loss) in 2023, aided by $29M fair value gain on royalty liability.
- Cash and marketable securities of $77.0M expected to fund operations and 5 clinical/regulatory milestones through late H1 2026.

## SEC filing metadata
- accession: 0001628280-24-036859
- form_type: 8-K
- ticker: OVID
- cik: 0001636651
- company_name: Ovid Therapeutics Inc.
- filed_at: 2024-08-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1636651/000162828024036859/0001628280-24-036859-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1636651/000162828024036859/ovid-20240813.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-036859
- JSON: https://secwatch.observer/filing/0001628280-24-036859.json
- Plain text: https://secwatch.observer/filing/0001628280-24-036859.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.