OVID THERAPEUTICS Reports 55.8% Increase in Total Revenue for Fourth Quarter of FY2022
March 19, 2023
Earnings Overview
For the fourth quarter of fiscal year 2022, OVID THERAPEUTICS ($NASDAQ:OVID) reported total revenue of USD 11.5 million, representing a 55.8% increase compared to the same quarter of the previous year. Net income for the same period was USD 0.1 million, a minor increase from the prior year. The results were announced on March 13 2023.
Share Price
The news resulted in a 0.5% increase in the company’s stock price, with the stock opening at $1.9 and closing at $2.0, up from its prior closing price of $2.0. This news is likely to be welcomed by OVID THERAPEUTICS‘ shareholders, who have seen the company’s share price rise steadily over the past year. Moving forward, the company is expected to continue its trajectory of growth as it continues to develop new treatments and expand its product portfolio. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ovid Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 1.5 | -54.17 | -3604.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ovid Therapeutics. More…
| Operations | Investing | Financing |
| -55.23 | -87.88 | 0.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ovid Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 155.27 | 22.99 | 1.88 |
Key Ratios Snapshot
Some of the financial key ratios for Ovid Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -3696.4% |
| FCF Margin | ROE | ROA |
| -3769.5% | -25.3% | -22.4% |
Analysis
At GoodWhale, we have examined OVID THERAPEUTICS‘ wellbeing and found that the company is strong in asset, growth and medium in profitability, but weak in dividend. In terms of health score, OVID THERAPEUTICS has an intermediate score of 4/10 which means that it might be able to pay off debt and fund future operations. After a deeper analysis, we classified OVID THERAPEUTICS as a ‘rhino’, meaning it has achieved moderate revenue or earnings growth. Considering its current standing, investors that are looking for companies with moderate growth may be interested in investing in OVID THERAPEUTICS. The company’s assets and cashflows should be able to fund future operations while the moderate growth rate offers a more stable return on investments. Investors with a medium-term view may find this investment opportunity attractive. More…
Peers
Ovid Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is engaged in the development of medicines for patients and families living with rare neurological disorders. The company’s lead product candidate, OV101, is a first-in-class, orally-available gamma-secretase modulator (GSMM) in development for the treatment of Angelman syndrome, a rare neurodevelopmental disorder. The company’s second product candidate, OV935, is an orally-available, small molecule inhibitor of adenosine monophosphate-activated protein kinase (AMPK) in development for the treatment of rare mitochondrial disorders.
The company’s competitors include Novan Inc, QSAM Biosciences Inc, NextCure Inc.
– Novan Inc ($NASDAQ:NOVN)
Novan Inc. is a pharmaceutical company that focuses on the development and commercialization of drugs to treat skin diseases. The company’s drugs are based on nitric oxide, which is a molecule that plays a role in the regulation of blood flow, cell proliferation, and inflammation. Novan’s lead product is SB204, a topical cream that is being investigated for the treatment of acne, skin infections, and other skin conditions. SB204 is currently in clinical trials. Novan has also developed other nitric oxide-based drugs that are in preclinical testing for the treatment of various diseases, including cancer.
Novan’s market cap is $22.98 million as of 2022. The company’s return on equity is -250.57%.
Novan is a pharmaceutical company focused on developing drugs to treat skin diseases. The company’s drugs are based on nitric oxide, which is a molecule that plays a role in the regulation of blood flow, cell proliferation, and inflammation. Novan’s lead product is SB204, a topical cream that is being investigated for the treatment of acne, skin infections, and other skin conditions. SB204 is currently in clinical trials. Novan has also developed other nitric oxide-based drugs that are in preclinical testing for the treatment of various diseases, including cancer.
– QSAM Biosciences Inc ($OTCPK:QSAM)
QSAM Biosciences Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapeutics for the treatment of cancer and other serious diseases. The company’s lead product candidate is QBT301, a first-in-class, orally-administered small molecule inhibitor of the protein tyrosine kinase 6 (PTK6) that is in development for the treatment of several cancers, including non-small cell lung cancer (NSCLC), gastric cancer, and triple-negative breast cancer (TNBC). QBT301 has demonstrated potent activity in preclinical models of cancer, and the company is currently conducting a Phase 1/2 clinical trial of QBT301 in patients with advanced solid tumors.
– NextCure Inc ($NASDAQ:NXTC)
NextCure, Inc. is a clinical-stage biopharmaceutical company, which focuses on discovering and developing immunomedicines to treat patients with cancer and other intractable diseases. Its product pipeline includes NC401, NC610, and others. The company was founded by Pavan Cheruvu and Michael J. Davidson on April 28, 2016 and is headquartered in Beltsville, MD.
Summary
The company’s revenue was USD 11.5 million and net income was 0.1 million. This is a very positive sign for investors, as OVID Therapeutics is continuing to grow and is showing healthy profits. Overall, OVID Therapeutics appears to be an attractive stock for investors looking for growth and stability.
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