OVID Ovid Therapeutics Inc. - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$2.38
· of 52w range
· above low
· to high
$1.1852w low
$3.1152w high
Market Cap (MRQ)
$440M
P/E
-7.5
EPS
$-0.74
Revenue
$7M
your badges
52W Range
$1–$3
Analyst Rating
BUY
Price Target
$6
P/E
-7.5
ROE
-18.7%
Net Profit Margin
-2178.9%
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OVID Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.38
Market Cap (MRQ)
$440M
P/E
-7.5
EPS
$-0.74
Revenue
$7M
ROE
-18.7%
52W Range
$1–$3
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$7M2020-12-31 → 2025-12-31
EPS$-0.742020-12-31 → 2023-12-31
Free Cash Flow$-38M2017-12-31 → 2025-12-31
Net margin-2178.9%2020-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | OVID | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | -7.55Y avg ≈-2.2 | ≈-2.2 | · | · | |
| P/S (TTM) | 277.85Y avg ≈174.6 | ≈174.6 | 3.7 | Overvalued | |
| P/B (MRQ) | 2.15Y avg ≈1.6 | ≈1.6 | 3.0 | Undervalued | |
| Price / FCF | -10.45Y avg ≈-2.7 | ≈-2.7 | · | · | |
| Price / Cash Flow | -10.45Y avg ≈-2.7 | ≈-2.7 | · | · | |
| Price / Tangible Book (MRQ) | 2.15Y avg ≈1.5 | ≈1.5 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | OVID | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -3686.7%5Y avg ≈-4839.2% | ≈-4839.2% | -47.4% | Weak | |
| EBITDA Margin (TTM) | -3681.4%5Y avg ≈-4793.4% | ≈-4793.4% | -47.4% | Weak | |
| Pretax Margin (TTM) | -2178.9%5Y avg ≈-4286.8% | ≈-4286.8% | -61.1% | Weak | |
| Net Profit Margin (TTM) | -2178.9%5Y avg ≈-4287.0% | ≈-4287.0% | -28.8% | Weak | |
| ROA | -14.3%5Y avg ≈2.6% | ≈2.6% | -14.3% | In line | |
| ROE | -18.7%5Y avg ≈-12.1% | ≈-12.1% | -14.4% | Weak | |
| ROIC | -32.5%5Y avg ≈-18.4% | ≈-18.4% | -12.1% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | OVID | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 12.45Y avg ≈12.5 | ≈12.5 | 10.4 | Strong liquidity | |
| Quick Ratio | 1.65Y avg ≈5.8 | ≈5.8 | 2.9 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | OVID | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 1181.3%5Y avg ≈520.8% | ≈520.8% | · | · | |
| Revenue CAGR 3Y | 69.0%5Y avg ≈-28.5% | ≈-28.5% | · | · | |
| Revenue CAGR 5Y | -10.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | OVID | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.4 | ≈0.4 | 0.4 | Weak | |
| Revenue / Employee | ≈$315.3K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
37.4%
Next Report
Nov 10, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 18, 2026 | $-0.08 | $-0.12 | 35.2% |
| March 31, 2026 | May 13, 2026 | $-0.12 | $-0.12 | 2.2% |
| Dec. 31, 2025 | $0.06 | $-0.12 | 149.4% | |
| Sept. 30, 2025 | $-0.17 | $-0.15 | -11.2% | |
| June 30, 2025 | $-0.06 | $-0.16 | 63.6% | |
| March 31, 2025 | $-0.14 | $-0.14 | -0.43% | |
| Dec. 31, 2024 | $-0.13 | $-0.17 | 23.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $7M | $566.0K | $392.0K | $2M | $208M | $13M | |
| R&D Expense | $26M | $37M | $29M | $25M | $47M | $63M | |
| SG&A Expense | $24M | $26M | $31M | $32M | $37M | $31M | |
| Operating Expenses | $50M | $62M | $60M | $57M | $84M | $94M | |
| Operating Income | $-42M | $-62M | $-59M | $-56M | $124M | $-81M | |
| Interest Income | $2M | $4M | $5M | · | · | · | |
| Other Non-op | $25M | $35M | $7M | $1M | $-45.7K | · | |
| Pretax Income | $-17M | $-26M | $-52M | $-54M | $124M | $-81M | |
| Income Tax | $0 | $0 | $0 | $0 | $1M | $0 | |
| Net Income | $-17M | $-26M | $-52M | $-54M | $123M | $-81M | |
| EPS (Basic) | · | · | $-0.74 | $-0.77 | $1.78 | $-1.39 | |
| EPS (Diluted) | · | · | $-0.74 | $-0.77 | $1.76 | $-1.39 | |
| Shares (Basic) | · | · | 70,580,604 | 70,424,819 | 67,479,403 | 58,451,293 | |
| Shares (Diluted) | · | · | 70,580,604 | 70,424,819 | 68,067,992 | 58,451,293 | |
| EBITDA | $-42M | · | $-59M | $-55M | $124M | $-81M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $26M | $27M | $45M | $188M | $72M | |
| Prepaid Expense | $5M | $3M | $4M | $2M | $3M | $3M | |
| Current Assets | $74M | $56M | $110M | $131M | $190M | $75M | |
| PP&E (Net) | $252.0K | $433.0K | $769.0K | $1M | $242.8K | $135.6K | |
| Accum. Depreciation | $2M | $1M | $1M | $581.4K | $262.2K | $185.3K | |
| Intangibles | $0 | $100.0K | $200.0K | $222.1K | $164.1K | $319.0K | |
| Other Non-current Assets | $0 | $92.0K | $210.0K | $261.2K | $260.1K | $318.9K | |
| Total Assets | $151M | $92M | $144M | $155M | $195M | $76M | |
| Accounts Payable | $2M | $3M | $4M | $2M | $7M | $5M | |
| Accrued Liabilities | $5M | $6M | $7M | $5M | $8M | $12M | |
| Current Liabilities | $8M | $11M | $11M | $7M | $15M | $22M | |
| Capital Leases | $12M | $13M | $15M | $16M | $0 | · | |
| Total Liabilities | $20M | $24M | $56M | $23M | $15M | $32M | |
| Common Stock | $130.0K | $71.0K | $71.0K | $70.5K | $70.4K | $65.7K | |
| Paid-in Capital | $452M | $372M | $366M | $358M | $351M | · | |
| Retained Earnings | $-322M | $-304M | $-278M | $-226M | $-171M | $-294M | |
| AOCI | $-202.0K | $-35.0K | $1.0K | $-42.2K | $0 | · | |
| Stockholders' Equity | $131M | $68M | $88M | $132M | $180M | $44M | |
| Liabilities + Equity | $151M | $92M | $144M | $155M | $195M | $76M | |
| Shares Outstanding | 130,184,353 | 71,009,866 | 70,691,992 | 70,466,885 | 70,364,912 | 65,743,170 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $273.0K | $613.0K | $568.0K | $512.5K | $237.1K | $306.8K | |
| Stock-based Comp | $5M | $6M | $7M | $7M | $5M | $8M | |
| Deferred Tax | · | · | · | · | · | $6M | |
| Amort. of Intangibles | $100.0K | $200.0K | $100.0K | $193.3K | $160.2K | $247.0K | |
| Other Non-cash | $-26M | · | $-1M | $-8M | $-10M | $16M | |
| Operating Cash Flow | $-38M | $-56M | $-46M | $-55M | $119M | $-52M | |
| CapEx | $0 | $71.0K | $40.0K | $1M | $184.0K | $127.2K | |
| Investing Cash Flow | $-50M | $55M | $-3M | $-88M | $-2M | $35M | |
| Stock Issued | · | · | · | · | $0 | $47M | |
| Net Stock Activity | · | · | · | · | $0 | · | |
| Financing Cash Flow | $75M | $622.0K | $31M | $180.7K | $904.1K | $47M | |
| Net Change in Cash | $-13M | $-740.0K | · | $-143M | $118M | $30M | |
| Free Cash Flow | $-38M | · | $-46M | $-56M | $118M | $-52M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -585.2% | · | -15134.6% | -3696.4% | 59.6% | -645.4% | |
| Net Margin | -240.1% | · | -13362.2% | -3604.7% | 59.0% | -642.3% | |
| Pretax Margin | -240.1% | · | -13362.2% | -3604.7% | 59.6% | · | |
| EBITDA Margin | -581.4% | · | -14989.5% | -3662.3% | 59.7% | -643.0% | |
| ROA | -14.3% | · | -35.0% | -31.0% | 90.8% | -103.4% | |
| ROE | -18.7% | · | -55.4% | -39.5% | 65.2% | -151.1% | |
| ROIC | -32.5% | · | -67.5% | -42.0% | 68.4% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 9.0 | · | 9.6 | 18.8 | 12.9 | 3.4 | |
| Quick Ratio | 1.6 | · | 2.4 | 6.4 | 12.7 | 3.3 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.0 | 0.0 | 1.5 | 0.2 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.00 | · | $1.24 | $1.88 | $2.55 | $0.66 | |
| Revenue / Share | · | · | $0.01 | $0.02 | $3.06 | · | |
| Cash Flow / Share | · | · | $-0.65 | $-0.78 | $1.74 | · | |
| Cash / Share | $0.10 | · | $0.38 | $0.64 | $2.67 | $1.10 | |
| EPS (TTM) | $-0.41 | $-0.41 | $-0.74 | $-0.77 | $1.76 | $-1.39 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 1181.3% | 44.4% | -73.9% | -99.3% | 1551.6% | · | |
| Revenue CAGR 3Y | 69.0% | -86.1% | -68.6% | · | · | · | |
| Revenue CAGR 5Y | -10.5% | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $7M | $566.0K | $392.0K | $2M | $208M | $13M | |
| Net Income TTM | $-17M | $-26M | $-52M | $-54M | $123M | $-81M | |
| Market Cap | $212M | · | $228M | $131M | $226M | $152M | |
| P/E | -4.0 | -2.3 | -4.4 | -2.4 | 1.8 | -1.7 | |
| P/S | 29.3 | · | 580.7 | 87.2 | 1.1 | 12.0 | |
| P/B | 1.6 | · | 2.6 | 1.0 | 1.3 | 3.5 | |
| P / Tangible Book | 1.6 | 1.0 | 2.6 | 1.0 | 1.3 | 3.5 | |
| P / Cash Flow | -5.5 | · | -5.0 | -2.4 | 1.9 | -2.9 | |
| P / FCF | -5.5 | · | -5.0 | -2.3 | 1.9 | -2.9 | |
| Earnings Yield | -25.1% | -43.9% | -23.0% | -41.4% | 54.8% | -60.2% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $733.0K | $0 | $718.0K | $132.0K | $6M | $130.0K | $76.0K | $173.0K | $169.0K | $148.0K | $142.0K | $109.0K | $75.0K | $66.0K | $46.3K | $11.1K | |
| R&D Expense | $10M | $11M | $7M | $6M | $6M | $7M | $6M | $8M | $13M | $10M | $11M | $5M | $6M | $7M | $6M | $5M | |
| SG&A Expense | $6M | $7M | $6M | $7M | $5M | $6M | $5M | $6M | $8M | $7M | $8M | $7M | $8M | $8M | $7M | $8M | |
| Operating Expenses | $16M | $18M | $13M | $13M | $11M | $13M | $11M | $13M | $21M | $18M | $18M | $12M | $14M | $15M | $12M | $13M | |
| Operating Income | $-16M | $-18M | $-12M | $-13M | $-5M | $-13M | $-11M | $-13M | $-21M | $-17M | $-18M | $-12M | $-14M | $-15M | $-12M | $-13M | |
| Interest Income | $2M | $737.0K | $848.0K | $303.0K | $384.0K | $491.0K | $650.0K | $947.0K | $991.0K | $1M | · | · | · | · | · | · | |
| Other Non-op | $689.0K | $858.0K | $22M | $365.0K | $389.0K | $2M | $1M | $-780.0K | $29M | $6M | $3M | $776.0K | $2M | $2M | $618.1K | $836.1K | |
| Pretax Income | $-15M | $-17M | $10M | $-12M | $-5M | $-10M | $-9M | $-14M | $9M | $-12M | $-15M | $-11M | $-12M | $-13M | $-12M | $-12M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $-50.0K | $0 | |
| Net Income | $-15M | $-17M | $10M | $-12M | $-5M | $-10M | $-9M | $-14M | $9M | $-12M | $-15M | $-11M | $-12M | $-13M | $-12M | $-12M | |
| EPS (Basic) | · | · | · | · | · | · | · | $-0.20 | $0.12 | $-0.17 | · | $-0.16 | $-0.18 | $-0.19 | $-0.16 | $-0.17 | |
| EPS (Diluted) | · | · | · | · | · | · | · | $-0.20 | $0.12 | $-0.17 | · | $-0.16 | $-0.18 | $-0.19 | $-0.16 | $-0.17 | |
| Shares (Basic) | · | · | · | · | · | · | · | 70,975,778 | 70,916,471 | 70,716,929 | · | 70,618,609 | 70,534,181 | 70,490,704 | · | 70,430,554 | |
| Shares (Diluted) | · | · | · | · | · | · | · | 70,975,778 | 71,200,798 | 70,716,929 | · | 70,618,609 | 70,534,181 | 70,490,704 | · | 70,430,554 | |
| EBITDA | $-16M | $-18M | · | $-13M | $-5M | $-12M | · | $-13M | $-21M | $-17M | · | $-12M | $-14M | $-15M | · | $-13M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11M | $94M | $13M | $21M | $28M | $21M | $26M | $15M | $30M | $31M | $27M | $57M | $72M | $63M | $45M | $58M | |
| Prepaid Expense | $6M | $5M | $5M | $3M | $4M | $3M | $3M | $3M | $4M | $3M | $4M | $5M | $6M | $2M | $2M | $3M | |
| Current Assets | $124M | $160M | $74M | $29M | $42M | $46M | $56M | $66M | $81M | $93M | $110M | $92M | $102M | $120M | $131M | $140M | |
| PP&E (Net) | $201.0K | $217.0K | $252.0K | $269.0K | $285.0K | $346.0K | $433.0K | $509.0K | $618.0K | $686.0K | $769.0K | $856.5K | $955.6K | $1M | $1M | $1M | |
| Accum. Depreciation | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $899.5K | $795.1K | $689.8K | $581.4K | $449.8K | |
| Intangibles | $0 | $0 | $0 | $0 | $0 | $38.0K | $100.0K | $155.0K | $219.0K | $148.0K | $200.0K | $222.1K | $263.4K | $185.9K | $222.1K | $275.4K | |
| Other Non-current Assets | · | · | $0 | $0 | $0 | $39.0K | $92.0K | $182.0K | $246.0K | $174.0K | $210.0K | $248.7K | $290.0K | $212.5K | $261.2K | $275.4K | |
| Total Assets | $232M | $226M | $151M | $64M | $77M | $82M | $92M | $103M | $118M | $132M | $144M | $125M | $136M | $143M | $155M | $165M | |
| Accounts Payable | $4M | $9M | $2M | $2M | $4M | $2M | $3M | $3M | $5M | $4M | $4M | $1M | $4M | $2M | $2M | $1M | |
| Accrued Liabilities | $4M | $5M | $5M | $3M | $3M | $6M | $6M | $8M | $8M | $4M | $7M | $6M | $5M | $4M | $5M | $6M | |
| Current Liabilities | $10M | $16M | $8M | $7M | $9M | $9M | $11M | $12M | $14M | $9M | $11M | $9M | $10M | $7M | $7M | · | |
| Capital Leases | $11M | $12M | $12M | $12M | $13M | $13M | $13M | $14M | $14M | $14M | $15M | $15M | $15M | $16M | $16M | $16M | |
| Total Liabilities | $22M | $27M | $20M | $19M | $22M | $22M | $24M | $26M | $29M | $53M | $56M | $24M | $26M | $22M | $23M | $23M | |
| Common Stock | $185.0K | $167.0K | $130.0K | $71.0K | $71.0K | $71.0K | $71.0K | $71.0K | $71.0K | $71.0K | $71.0K | $70.7K | $70.6K | $70.5K | $70.5K | $70.5K | |
| Paid-in Capital | $564M | $537M | $452M | $376M | $375M | $374M | $372M | $371M | $370M | $368M | $366M | $364M | $362M | $360M | $358M | · | |
| Retained Earnings | $-354M | $-339M | $-322M | $-331M | $-319M | $-315M | $-304M | $-295M | $-281M | $-290M | $-278M | $-263M | $-251M | $-239M | $-226M | $-214M | |
| AOCI | $-750.0K | $-422.0K | $-202.0K | $-126.0K | $-69.0K | $-47.0K | $-35.0K | $36.0K | $-12.0K | $-19.0K | $1.0K | $-3.9K | $5.2K | $5.6K | $-42.2K | $-82.8K | |
| Stockholders' Equity | $210M | $198M | $131M | $45M | $56M | $59M | $68M | $76M | $89M | $78M | $88M | $101M | $111M | $121M | $132M | $142M | |
| Liabilities + Equity | $232M | $226M | $151M | $64M | $77M | $82M | $92M | $103M | $118M | $132M | $144M | $125M | $136M | $143M | $155M | $165M | |
| Shares Outstanding | 184,755,735 | 167,266,466 | 130,184,353 | 71,151,981 | 71,109,514 | 71,109,514 | 71,009,866 | 71,009,866 | 70,971,577 | 70,783,961 | 70,691,992 | 70,680,551 | 70,602,793 | 70,491,510 | 70,466,885 | 70,466,885 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $16.0K | $35.0K | $17.0K | $16.0K | $99.0K | $141.0K | $160.0K | $169.0K | $148.0K | $136.0K | $140.0K | $145.9K | $137.3K | $145.0K | $185.0K | $155.4K | |
| Stock-based Comp | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Amort. of Intangibles | $0 | $0 | $9.0K | $0 | $38.0K | $53.0K | $56.0K | $64.0K | $45.0K | $35.0K | $-9.0K | $41.0K | $32.0K | $36.0K | $75.8K | $53.3K | |
| Other Non-cash | · | $2M | · | · | · | $-1M | · | · | · | $-7M | · | · | · | $-817.2K | · | · | |
| Operating Cash Flow | $-18M | $-14M | $-10M | $-13M | $-5M | $-10M | $-10M | $-15M | $-14M | $-17M | $-12M | $-10M | $-12M | $-12M | $-9M | $-13M | |
| CapEx | · | · | $0 | $0 | $0 | $0 | $22.0K | $-4.0K | $34.0K | $19.0K | $13.0K | $5.6K | $7.4K | $14.0K | $119.9K | $18.6K | |
| Investing Cash Flow | $-87M | $6M | $-72M | $5M | $12M | $5M | $21M | $292.0K | $13M | $20M | $-49M | $-4M | $20M | $30M | $-4M | $-2M | |
| Stock Issued | $1.0K | $2M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $2M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $22M | $89M | $75M | $15.0K | $0 | $13.0K | $0 | $38.0K | $356.0K | $228.0K | $30M | $223.9K | $211.0K | $67.0K | $-43.6K | $81.6K | |
| Net Change in Cash | $-83M | $81M | · | · | $7M | $-5M | · | · | · | · | · | · | · | · | · | $-15M | |
| Free Cash Flow | · | · | · | · | · | $-10M | · | · | · | $-17M | · | · | · | $-12M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -2141.6% | · | · | -9487.1% | -80.9% | -9653.9% | · | -7645.1% | -12140.2% | -11768.2% | · | -11038.5% | -18896.0% | -22509.5% | · | -115329.3% | |
| Net Margin | -2047.6% | · | · | -9210.6% | -74.7% | -7873.1% | · | -8096.0% | 5042.0% | -7901.3% | · | -10325.9% | -16544.4% | -20187.7% | · | -107798.3% | |
| Pretax Margin | -2047.6% | · | · | -9210.6% | -74.7% | -7873.1% | · | -8096.0% | 5042.0% | -7901.3% | · | -10325.9% | -16544.4% | -20187.7% | · | -107798.3% | |
| EBITDA Margin | -2141.6% | · | · | -9487.1% | -80.9% | -9545.4% | · | -7645.1% | -12140.2% | -11676.3% | · | -11038.5% | -18896.0% | -22290.9% | · | -115329.3% | |
| ROA | -9.7% | -11.1% | · | -14.6% | -4.8% | -9.6% | · | -12.3% | 6.7% | -8.5% | · | -7.8% | -7.9% | -8.0% | · | -6.4% | |
| ROE | -11.3% | -13.2% | · | -20.1% | -6.5% | -14.9% | · | -15.8% | 8.5% | -11.7% | · | -9.2% | -9.4% | -9.3% | · | -7.1% | |
| ROIC | -7.5% | -9.0% | · | -28.0% | -9.1% | -21.2% | · | -17.3% | -23.1% | -22.2% | · | -11.9% | -12.8% | -12.3% | · | -9.0% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.4 | 10.2 | · | 4.2 | 4.7 | 4.9 | · | 5.7 | 5.7 | 10.5 | · | 10.6 | 10.1 | 17.8 | · | · | |
| Quick Ratio | 1.1 | 6.0 | · | 3.0 | 3.2 | 2.3 | · | 1.3 | 2.1 | 3.5 | · | 6.6 | 7.1 | 9.4 | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.14 | $1.19 | · | $0.63 | $0.78 | $0.83 | · | $1.07 | $1.25 | $1.11 | · | $1.43 | $1.57 | $1.72 | · | $2.02 | |
| Revenue / Share | · | · | · | · | · | · | · | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.00 | |
| Cash Flow / Share | · | · | · | · | · | · | · | · | · | $-0.24 | · | · | · | $-0.17 | · | · | |
| Cash / Share | $0.06 | $0.56 | · | $0.29 | $0.40 | $0.30 | · | $0.21 | $0.42 | $0.43 | · | $0.81 | $1.01 | $0.89 | · | $0.83 | |
| EPS (TTM) | · | · | · | · | · | · | · | · | · | · | · | $-0.69 | $-0.70 | $-0.73 | · | $-0.98 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | $7M | · | $7M | $7M | $548.0K | · | $632.0K | $568.0K | $474.0K | · | $296.3K | $198.4K | $123.4K | · | $1M | |
| Net Income TTM | $-34M | $-24M | · | $-36M | $-38M | $-25M | · | $-33M | $-30M | $-51M | · | $-49M | $-49M | $-51M | · | $-69M | |
| Market Cap | $497M | $371M | · | $92M | $23M | $22M | · | $84M | $55M | $216M | · | $271M | $232M | $182M | · | $130M | |
| P/E | · | · | · | · | · | · | · | · | · | · | · | -5.6 | -4.7 | -3.5 | · | -1.9 | |
| P/S | 314.0 | 52.1 | · | 14.0 | 3.5 | 40.5 | · | 132.6 | 96.1 | 455.5 | · | 916.1 | 1167.3 | 1474.0 | · | 89.0 | |
| P/B | 2.4 | 1.9 | · | 2.1 | 0.4 | 0.4 | · | 1.1 | 0.6 | 2.8 | · | 2.7 | 2.1 | 1.5 | · | 0.9 | |
| P / Tangible Book | 2.4 | 1.9 | · | 2.1 | 0.4 | 0.4 | · | 1.1 | 0.6 | 2.8 | · | 2.7 | 2.1 | 1.5 | · | 0.9 | |
| P / Cash Flow | · | -26.7 | · | · | · | -2.2 | · | · | · | -12.9 | · | · | · | -15.0 | · | · | |
| Earnings Yield | · | · | · | · | · | · | · | · | · | · | · | -18.0% | -21.3% | -28.3% | · | -53.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $7M | $566.0K | $392.0K | $2M | $208M |
| Operating Margin % | -585.2% | · | -15134.6% | -3696.4% | 59.6% |
| Net Income | $-17M | $-26M | $-52M | $-54M | $123M |
| Diluted EPS | · | · | $-0.74 | $-0.77 | $1.76 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 9.0 | · | 9.6 | 18.8 | 12.9 |
| Quick Ratio | 1.6 | · | 2.4 | 6.4 | 12.7 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-38M | · | $-46M | $-56M | $118M |
Institutional owners (13F) 142 filers · $378.9M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
142
Value held
$378.9M
New positions
46
Exited positions
17
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 46 (+15 vs prior Q) | 17 (+9 vs prior Q) | 34 (-1 vs prior Q) | 29 (+8 vs prior Q) | +21.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| EVENTIDE ASSET MANAGEMENT, LLC | $31,774,928 | 11,812,241 | 8.39% | Shares |
| BlackRock, Inc. | $29,115,162 | 10,823,480 | 7.68% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $28,247,604 | 10,500,968 | 7.45% | Shares |
| Affinity Asset Advisors, LLC | $27,288,872 | 10,144,562 | 7.20% | Shares |
| JANUS HENDERSON GROUP PLC | $23,731,510 | 10,714,000 | 6.26% | Shares |
| STATE STREET CORP | $21,253,058 | 7,900,765 | 5.61% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $20,874,707 | 7,760,114 | 5.51% | Shares |
| ADAR1 Capital Management, LLC | $19,953,019 | 7,417,479 | 5.27% | Shares |
| Balyasny Asset Management L.P. | $18,074,314 | 6,719,076 | 4.77% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $16,580,571 | 6,163,781 | 4.38% | Shares |
| FEDERATED HERMES, INC. | $16,009,982 | 5,951,666 | 4.23% | Shares |
| BRAIDWELL LP | $15,923,358 | 5,919,464 | 4.20% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $10,957,549 | 4,072,653 | 2.89% | Shares |
| TAKEDA PHARMACEUTICAL CO LTD | $9,791,595 | 7,531,996 | 2.58% | Shares |
| SILVERARC CAPITAL MANAGEMENT, LLC | $8,342,037 | 3,101,129 | 2.20% | Shares |
| STEMPOINT CAPITAL LP | $6,502,491 | 2,417,283 | 1.72% | Shares |
| Ikarian Capital, LLC | $6,105,503 | 2,269,704 | 1.61% | Shares |
| Point72 Asset Management, L.P. | $5,234,006 | 1,945,727 | 1.38% | Shares |
| VANGUARD GROUP INC | $5,007,730 | 3,072,227 | 1.32% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $3,639,570 | 1,353,000 | 0.96% | Shares |
| NORTHERN TRUST CORP | $3,352,114 | 1,246,139 | 0.88% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,068,626 | 1,140,753 | 0.81% | Shares |
| Propel Bio Management, LLC | $3,000,797 | 1,115,538 | 0.79% | Shares |
| Rosalind Advisors, Inc. | $2,980,504 | 1,107,994 | 0.79% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,773,237 | 1,030,943 | 0.73% | Shares |
| Sio Capital Management, LLC | $2,704,348 | 1,005,334 | 0.71% | Shares |
| Ensign Peak Advisors, Inc | $2,657,946 | 988,084 | 0.70% | Shares |
| Nuveen, LLC | $2,402,853 | 893,254 | 0.63% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,239,097 | 832,378 | 0.59% | Shares |
| WELLS FARGO & COMPANY/MN | $2,222,494 | 826,206 | 0.59% | Shares |
| ORBIMED ADVISORS LLC | $2,009,430 | 747,000 | 0.53% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,984,569 | 737,758 | 0.52% | Shares |
| Saturn V Capital Management LP | $1,783,631 | 663,060 | 0.47% | Shares |
| Ally Bridge Group (NY) LLC | $1,680,069 | 624,561 | 0.44% | Shares |
| UBS Group AG | $1,234,487 | 458,917 | 0.33% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,194,473 | 444,042 | 0.32% | Shares |
| Bank of New York Mellon Corp | $1,119,897 | 416,318 | 0.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,101,528 | 409,490 | 0.29% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,043,445 | 387,767 | 0.28% | Shares |
| GOLDMAN SACHS GROUP INC | $894,942 | 332,692 | 0.24% | Shares |
| Informed Momentum Co LLC | $698,407 | 259,631 | 0.18% | Shares |
| Atom Investors LP | $677,439 | 251,836 | 0.18% | Shares |
| CIBC WORLD MARKET INC. | $588,709 | 218,851 | 0.16% | Shares |
| Parkman Healthcare Partners LLC | $532,477 | 197,947 | 0.14% | Shares |
| SEI INVESTMENTS CO | $529,083 | 196,685 | 0.14% | Shares |
| CITIGROUP INC | $513,946 | 191,058 | 0.14% | Shares |
| Invesco Ltd. | $470,481 | 174,900 | 0.12% | Shares |
| RHUMBLINE ADVISERS | $457,666 | 170,139 | 0.12% | Shares |
| AMERICAN CENTURY COMPANIES INC | $455,638 | 169,382 | 0.12% | Shares |
| DEUTSCHE BANK AG\ | $401,862 | 149,391 | 0.11% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Mark Feldberg, TLS Advisors LLC, Shira Capital LLC, TradeLink Securities LLC, Tripletail Capital Management LP ×5 filings | May 27, 2020 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 20 insiders · 9 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Margaret A. Alexander | President and CEO | Feb. 26, 2026 A | 61,750 | 0 | 1 | $-16,901 |
| Charles Ross Carter | Chief Financial Officer | July 6, 2026 A | 94,375 | 0 | 0 | $0 |
| Yaron Werber | CBO, CFO, Sec. and Treas. | Jan. 19, 2018 A | · | 0 | 0 | $0 |
| Amit Rakhit | President and CMO | July 14, 2021 M | 726,823 | 0 | 0 | $0 |
| Jason Tardio | Chief Operating Officer | Feb. 22, 2024 A | 28,125 | 0 | 0 | $0 |
| Thomas Michael Perone | General Counsel, Secretary | Feb. 22, 2024 A | 28,125 | 0 | 0 | $0 |
| Dirk Haasner | SVP, Global Regulatory Affairs | Dec. 17, 2020 A | · | 0 | 0 | $0 |
| Timothy Daly | EVP,Finance & Corp. Controller | Dec. 17, 2020 A | · | 0 | 0 | $0 |
| Ana Ward | SVP and General Counsel | Feb. 24, 2019 A | · | 0 | 0 | $0 |
| Anna Greka | Director | June 15, 2026 A | · | 0 | 0 | $0 |
| Kevin Joseph Fitzgerald | Director | April 7, 2026 A | 17,578 | 0 | 0 | $0 |
| Stelios Papadopoulos | Director | April 7, 2026 A | 217,578 | 0 | 0 | $0 |
| Karen Bernstein | Director | Feb. 26, 2026 A | 20,000 | 0 | 0 | $0 |
| Robert Michael Poole | Director | Feb. 22, 2024 A | · | 0 | 0 | $0 |
| Douglas E Williams | Director | May 17, 2021 A | 5,000 | 0 | 0 | $0 |
| Matthew During | Director | April 1, 2019 A | 4,307,314 | 0 | 0 | $0 |
| Bart Friedman | · | April 7, 2026 A | 8,789 | 0 | 0 | $0 |
| Jeremy M Levin | · | March 23, 2026 M | 3,735,048 | 0 | 0 | $0 |
| Barbara Gayle Duncan | · | Feb. 26, 2026 A | · | 0 | 0 | $0 |
| Jeffrey A Rona | · | Feb. 26, 2026 A | 156,313 | 0 | 1 | $-12,384 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 17 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IBRN · iShares Trust | 0.46% | 13,036 SH | Sept. 11, 2026 | Daily |
| IWC · iShares Trust | 0.09% | 516,966 SH | Sept. 11, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.08% | 167,199 NS | July 31, 2026 | N-PORT |
| PWS · Pacer Funds Trust | 0.02% | 2,284 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 117,475 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 3,906,782 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 137,815 SH | Oct. 2, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 72,842 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,952,040 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 881,326 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.00% | 169,022 SH | Sept. 11, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 83,973 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 342,580 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,653,216 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 19,401 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 12,741 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 1,268,401 SH | Sept. 11, 2026 | Daily |
OVID Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 16 analysts
BUY
Median target
$5.00
+110.1%
7 43.8%
Strong Buy
8 50.0%
Buy
1 6.2%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
9 analysts · 2026-10-01Mean target $5.92 +148.6%
← Below all targets
Current price $2.38
Low$4.00
Mean$5.92
High$9.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OVID | $212M | -4.0 | 1181.3% | -240.1% | -18.7% | · |
| MNPR | · | · | · | · | · | · |
| CAPR | $1.66B | -12.8 | -11.6% | · | -51.1% | · |
| NGNE | $319M | -4.9 | · | · | -33.6% | · |
| PBYI | $300M | 9.8 | -0.91% | 13.6% | 26.5% | · |
| RGNX | $733M | -3.8 | 104.5% | -113.8% | -122.5% | · |
| ASMB | $539M | -61.8 | 153.5% | -8.5% | -5.5% | · |
| TECX | $391M | -5.2 | · | · | -27.7% | · |
| DMAC | $428M | · | · | · | -78.7% | · |
| MYGN | $575M | -1.6 | -1.6% | -44.4% | -96.8% | 69.9% |
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Source: SEC 10-Q filed Aug 13, 2026