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Ovid Therapeutics Inc.

Ovid Therapeutics Inc. is a biopharmaceutical company.2 It is headquartered in New York, United States.2

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Last updated Oct 21, 2026.

Overview

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  • TickerOVID on Nasdaq2
  • IndustryPharmaceutical Preparations2
  • HeadquartersNew York, United States2
  • Incorporated inDE3
  • Business address441 Ninth Avenue, 14Th Floor, New York, Ny 100013
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300H36NUI4L6U8F172
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O Corporation Service Company, 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 55087512

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Ovid is a biopharmaceutical company that is dedicated to developing small molecule medicines for brain disorders with significant unmet need. These potential medicines targeting the central nervous system (“CNS”) are designed to potentially halt the course of brain disease by quelling neuronal hyperexcitation and alleviating the most impactful patient symptoms. We seek to address fundamental biological targets in the brain that are implicated in neuronal hyperexcitability, such as neurotransmitters and dysregulated ion channels. By mitigating excessive neuronal hyperexcitation with differentiated medicines, we believe we can unlock substantial scientific, therapeutic and commercial opportunities across a range of neurological and psychiatric conditions that have few therapeutic options today, both impacting patients’ lives and creating long-term stockholder value.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-585.2%Operating margin5
-240.1%Net margin5
1181.3%Revenue growth, 20255
-13.3%Return on equity5
-$38.3MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development100¢$25.6M

Out of $7.3M in revenue.5 The company lost money this year.

Financial statements

Revenue67895$7.3M in 2025−43% since 2020
0$100.0M$200.0M$300.0M2020: $12.6M$12.6M20202021: $208.4M$208.4M2021+1552%2022: $1.5M$1.5M2022−99%2023: $392.0K$392.0K2023−74%2024: $566.0K$566.0K2024+44%2025: $7.3M$7.3M2025+1181%
Operating income1067895-$42.4M in 2025−31% since 2019
-$100.0M0$100.0M$200.0M2019: -$61.4M-$61.4M20192020: -$81.4M-$81.4M2020+33%2021: $124.2M$124.2M20212022: -$55.5M-$55.5M20222023: -$59.3M-$59.3M2023+7%2024: -$61.9M-$61.9M2024+4%2025: -$42.4M-$42.4M2025−31%
Net income1067895-$17.4M in 2025−71% since 2019
-$100.0M0$100.0M$200.0M2019: -$60.5M-$60.5M20192020: -$81.0M-$81.0M2020+34%2021: $122.8M$122.8M20212022: -$54.2M-$54.2M20222023: -$52.3M-$52.3M2023−3%2024: -$26.4M-$26.4M2024−49%2025: -$17.4M-$17.4M2025−34%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Revenue$7.3M$566.0K
Research and development$25.6M$36.8M
General and administrative$24.1M$25.7M
Total operating expenses$49.7M$62.5M
Loss from operations-$42.4M-$61.9M
Other income (expense), net$25.0M$35.5M
Loss before provision for income taxes-$17.4M-$26.4M
Provision for income taxes$0$0
Net loss-$17.4M-$26.4M

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Corporate structure

Ovid Therapeutics Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ovid Therapeutics Inc.

  • Ovid Therapeutics Inc. New York, New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ovid Therapeutics Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$1.6M5 Dec 31, 2025$1.4M5 Dec 31, 2024+12.9%
Property and equipment, net$252.0K5 Dec 31, 2025$433.0K5 Dec 31, 2024−41.8%
Operating-lease assets (leased space)$11.6M5 Dec 31, 2025$12.8M5 Dec 31, 2024−9.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.2M5 Dec 31, 2025$26.3M5 Dec 31, 2024−50.0%
Marketable securities, current$56.5M5 Dec 31, 2025$26.8M5 Dec 31, 2024+111.0%
Marketable securities, non-current$20.8M5 Dec 31, 2025$05 Dec 31, 2024
Debt securities available for sale$77.3M5 Dec 31, 2025$26.8M5 Dec 31, 2024+188.7%
Long-term investments$21.0M9 Dec 31, 2024$17.6M9 Dec 31, 2023+19.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, net$05 Dec 31, 2025$100.0K5 Dec 31, 2024−100.0%

Properties, in its own words

We currently lease the space for our principal executive offices, which are located at 441 Ninth Avenue, New York, New York, under a ten-year lease agreement which commenced in March 2022. We believe our facilities are adequate to meet current needs.

Item 2 of the 10-K filed Mar 18, 2026.4

Leadership

Who has led Ovid Therapeutics Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jeremy M. Levin2017–2026
  2. Margaret A. Alexander2026–now

Chair

  1. Jeremy M. Levin2026–now

President

  1. Matthew During2017–2019
  2. Amit Rakhit2019–2021
  3. Margaret A. Alexander2024–now

Chief financial officer

  1. Yaron Werber2017–2018
  2. Charles Ross Carter2026–now

Chief operating officer

  1. Jason Tardio2022–2024
  2. Margaret A. Alexander2024–now
20202025
Board members and other officers (16)

Timeline

  1. Aug 13, 20268-K Financial statements and exhibits35
  2. Jul 8, 20268-K Executive or director change36
  3. Jun 11, 20268-K Shareholder vote37
  4. Jun 3, 20268-K Executive or director change38
  5. May 12, 20268-K Financial statements and exhibits39
  6. Apr 20, 20268-K Other events40
  7. Mar 18, 20268-K Entered a material agreement; Results of operations; Unregistered sale of shares41
  8. Jan 5, 2026New chief executive Margaret A. Alexander becomes CEO13
  9. Dec 18, 20258-K Other events42
  10. Dec 11, 20258-K Shareholder vote43
  11. Nov 12, 20258-K Results of operations; Executive or director change44
  12. Oct 3, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed45
  13. Sep 16, 20258-K Other events46
  14. May 4, 2017New chief executive Jeremy M. Levin becomes CEO14
  15. Apr 1, 2014Founded Ovid Therapeutics Inc. is founded2

Calendar

Coming up

  1. Nov 11, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.17) a share, on Nov 12, 2025.47

When it reported results

  1. Mar 18, 2026Reported quarterly or annual results41
  2. Nov 12, 2025Reported quarterly or annual results44
  3. May 13, 2025Reported quarterly or annual results48
  4. Mar 11, 2025Reported quarterly or annual results49
  5. May 14, 2024Reported quarterly or annual results50
  6. Mar 8, 2024Reported quarterly or annual results51
  7. Nov 3, 2023Reported quarterly or annual results52
  8. Aug 4, 2023Reported quarterly or annual results53

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

233 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 50 major events, 79 insider forms, 44 large holders, 39 other. The latest 20:

  1. Aug 24, 2026144 EDGAR
  2. Aug 14, 2026SCHEDULE 13G/A EDGAR
  3. Aug 14, 2026144 EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 14, 2026SCHEDULE 13G/A EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 13, 202610-Q EDGAR
  8. Aug 13, 20268-K EDGAR
  9. Aug 13, 2026SCHEDULE 13G/A EDGAR
  10. Jul 29, 2026SCHEDULE 13G EDGAR
  11. Jul 8, 20264 EDGAR
  12. Jul 8, 20263 EDGAR
  13. Jul 8, 20268-K EDGAR
  14. Jul 8, 2026SCHEDULE 13G/A EDGAR
  15. Jun 17, 20264 EDGAR
  16. Jun 17, 20263 EDGAR
  17. Jun 11, 20268-K EDGAR
  18. Jun 3, 20268-K EDGAR
  19. May 15, 2026SCHEDULE 13G EDGAR
  20. May 15, 2026SCHEDULE 13G EDGAR

The 233 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

7 open-market trades by officers, directors and large owners since October 2021: 2 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 23, 2026ALEXANDER MARGARET A.President and CEOSale11,656$1.45$16.9KForm 4
Feb 23, 2026Rona Jeffrey ACBFOSale8,541$1.45$12.4KForm 4
Feb 26, 2025ALEXANDER MARGARET A.President and CEOSale5,279$0.56$3.0KForm 4
Feb 26, 2025Rona Jeffrey ACBFOSale3,902$0.56$2.2KForm 4
Jan 27, 2025ALEXANDER MARGARET A.President and CEOBuy6,810$0.73$5.0KForm 4
Mar 18, 2024LEVIN JEREMY MExecutive ChairmanBuy18,248$2.76$50.4KForm 4
Sep 12, 2022Tardio JasonChief Operating OfficerSale17,344$2.15$37.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Jeremy M. LevinDPhil, MB BChir$644.1K$1.9M73
2025Margaret Alexander45$515.0K$1.0M73
2025Jeffrey Rona57$506.9K$969.2K73
2024Executive Chairman and Former Chief Executive Officer$625.3K$2.8M73
2024President and Chief Executive Officer and Former Chief Operating Officer$484.4K$1.7M73
2024Chief Business & Financial Officer$492.1K$1.5M73

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jupiter Topco LLC20,741,234$55.9M0.0%New
Eventide Asset Management, LLC11,812,241$31.8M0.4%+1,895,330
BlackRock, Inc.10,823,480$29.1M0.0%+9,290,197
Ra Capital Management, L.P.10,500,968$28.2M0.2%−213,032
Affinity Asset Advisors, LLC10,144,562$27.3M1.4%−491,756
State Street Corp7,900,765$21.3M0.0%+7,380,482
Vanguard Capital Management LLC7,760,114$20.9M0.0%+2,501,868
ADAR1 Capital Management, LLC7,417,479$20.0M0.9%+2,873,366
Balyasny Asset Management L.P.6,719,076$18.1M0.0%+1,186,003
Adage Capital Partners Gp, L.l.c.6,163,781$16.6M0.0%No change
Federated Hermes, Inc.5,951,666$16.0M0.0%+2,380,666
Braidwell LP5,919,464$15.9M0.6%New
Geode Capital Management, LLC4,072,653$11.0M0.0%+2,754,562
Silverarc Capital Management, LLC3,101,129$8.3M0.9%+2,101,129
Stempoint Capital LP2,417,283$6.5M1.1%New
Ikarian Capital, LLC2,269,704$6.1M1.0%−625,000
Point72 Asset Management, L.P.1,945,727$5.2M0.0%+625,117
Sphera Funds Management Ltd.1,353,000$3.6M0.5%−269,828
Northern Trust Corp1,246,139$3.4M0.0%+991,335
Vanguard Fiduciary Trust Co1,140,753$3.1M0.0%+447,497
Propel Bio Management, LLC1,115,538$3.0M1.6%+194,081
Rosalind Advisors, Inc.1,107,994$3.0M1.1%No change
Vanguard Portfolio Management LLC1,030,943$2.8M0.0%New
Sio Capital Management, LLC1,005,334$2.7M0.5%−247,047
Ensign Peak Advisors, Inc988,084$2.7M0.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Ovid Therapeutics Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAROvid Therapeutics Inc.1
  • CIK0001636651
  • Employer ID (EIN)46-52708954
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address441 Ninth Avenue, 14Th Floor, New York, NY 100011
  • Phone212-776-43811
  • Shares outstanding195,297,857 as of Aug 11, 202612
  • Public float$22.2M as of Jun 30, 20254
  • AuditorKPMG LLP, New York, New York PCAOB ID 185; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 18, 20151
  • Filings532 in all: 4 (157), 8-K (137), SC 13G/A (33), 10-Q (29), 3 (21), SC 13G (17), SCHEDULE 13G/A (15), 424B5 (12)1
    All 38 form types

    DEF 14A (10), SCHEDULE 13G (10), 10-K (9), DEFA14A (9), S-8 (9), CORRESP (7), EFFECT (6), S-3 (5), 4/A (4), ARS (4), S-1/A (4), SC 13D/A (4), UPLOAD (4), 8-K/A (3), CT ORDER (3), D (3), 144 (2), 424B3 (2), PRE 14A (2), 10-K/A (1), 424B4 (1), 8-A12B (1), CERTNAS (1), DRS (1), DRS/A (1), DRSLTR (1), PREM14A (1), S-1 (1), S-8 POS (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 18, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Apr 27, 2026
    Latest 8-K (8-K) Aug 13, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareOVIDThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 18, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Ovid Therapeutics Inc. names in Item 1A of its 10-K filed Mar 18, 2026: 58 risks under these headings, as written.4

  • Risks Related to Our Financial Position and Need for Additional Capital
  • We will require additional capital to finance our operations, which may not be available on acceptable terms, if at all. Failure to obtain this necessary capital when needed will force us to delay, limit or terminate certain of our drug development efforts or other operations.
  • We expect to continue to incur substantial operating losses for the foreseeable future and may never achieve or maintain profitability.
  • Our operating history may make it difficult to evaluate the success of our business to date and to assess our future viability.
  • Our business could be adversely affected by economic downturns, changes in inflation and interest rates, changes in trade policy (including tariffs), natural disasters, political crises, geopolitical events, or other macroeconomic conditions, which may in the future negatively impact our business and financial performance.
  • We may sell additional equity or debt securities or enter into other arrangements to fund our operations, which may result in dilution to our stockholders and impose restrictions or limitations on our business.
  • Sales of a substantial number of shares of our common stock in the public market could cause the market price of our common stock to drop significantly.
  • Risks Related to the Development and Commercialization of Our Drug Candidates
  • We are early in our drug development efforts. If we are unable to successfully develop, receive regulatory approval for and commercialize our drug candidates, or successfully develop any other drug candidates, or experience significant delays in doing so, our business will be harmed.
  • Our future success is dependent on the successful clinical development, regulatory approval and commercialization of our current and future drug candidates. If we, or our licensees or collaborators, are not able to obtain the required regulatory approvals, we, or our licensees or collaborators, will not be able to commercialize our drug candidates, and our ability to generate revenue will be adversely affected.
  • Because the results of preclinical studies or earlier clinical trials are not necessarily predictive of future results, our drug candidates may not have favorable results in planned or future preclinical studies or clinical trials, or may not receive regulatory approval.
  • Interim topline and preliminary results from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures, which could result in material changes in the final data.
The other 48 risks
  • Preclinical studies and clinical trials are very expensive, time-consuming and difficult to design and implement and involve uncertain outcomes. Further, we may encounter substantial delays in our clinical trials or we may fail to demonstrate safety and efficacy in our preclinical studies and clinical trials to the satisfaction of applicable regulatory authorities.
  • If we are not successful in discovering, developing and commercializing additional drug candidates, our ability to expand our business and achieve our strategic objectives would be impaired.
  • Enrollment and retention of patients in clinical trials is an expensive and time-consuming process and could be made more difficult or rendered impossible by multiple factors outside our control.
  • Our drug candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval, limit the commercial potential or result in significant negative consequences following any potential marketing approval.
  • If the market opportunities for our drug candidates are smaller than we believe they are, even assuming approval of a drug candidate, our business may suffer. Because the patient populations in the market for our drug candidates may be
  • small and difficult to assess, we must be able to successfully identify patients and acquire a significant market share to achieve profitability and growth.
  • We face substantial competition, which may result in others developing or commercializing drugs before or more successfully than us.
  • Even if our current or future drug candidates receive marketing approval, they may fail to achieve market acceptance by physicians, patients, third-party payors or others in the medical community necessary for commercial success.
  • Even if we obtain and maintain approval for our current or future drug candidates from the FDA, we may never obtain approval for our current or future drug candidates outside of the United States, which would limit our market opportunities and could harm our business.
  • If we seek approval to commercialize our current or future drug candidates outside of the United States, a variety of risks associated with international operations could harm our business.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any drug candidate that we may develop.
  • Risks Related to Licensing and Collaboration Arrangements
  • We may be required to relinquish important rights to and control over the development and commercialization of our drug candidates to any future collaborators.
  • If we engage in future acquisitions or strategic partnerships, this may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities and subject us to other risks.
  • We may explore additional strategic collaborations that may never materialize or may fail.
  • Risks Related to Regulatory Compliance
  • Our relationships with customers, physicians, and third-party payors may be subject, directly or indirectly, to federal and state healthcare fraud and abuse laws, false claims laws, health information privacy and security laws, and other healthcare laws and regulations. If we are unable to comply, or have not fully complied, with such laws, we could face substantial penalties.
  • Coverage and adequate reimbursement may not be available for our current or any future drug candidates, which could make it difficult for us to sell profitably, if approved.
  • Healthcare legislative reform measures may have a negative impact on our business and results of operations.
  • We may not be able to obtain or maintain orphan drug designations or exclusivity for our drug candidates, which could limit the potential profitability of our drug candidates.
  • Even if we obtain regulatory approval for our current or future drug candidates, they will remain subject to ongoing regulatory oversight.
  • Disruptions at the FDA and other government agencies caused by layoffs, funding shortages or global health concerns could negatively impact our business.
  • Risks Related to Our Intellectual Property
  • If we are unable to obtain and maintain patent protection for our current or any future drug candidates, or if the scope of the patent protection obtained is not sufficiently broad, we may not be able to compete effectively in our markets.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by government patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • Patent terms may be inadequate to protect our competitive position on our drug candidates for an adequate amount of time.
  • Intellectual property rights do not necessarily address all potential threats to our business.
  • Third parties may initiate legal proceedings alleging that we are infringing their intellectual property rights, the outcome of which would be uncertain and could have a negative impact on the success of our business.
  • We may be subject to claims asserting that our employees, consultants or advisors have wrongfully used or disclosed alleged trade secrets of their current or former employers or claims asserting ownership of what we regard as our own intellectual property.
  • We may be involved in lawsuits to protect or enforce our patents, the patents of our licensors or our other intellectual property rights, which could be expensive, time consuming and unsuccessful.
  • Changes in U.S. patent law or the patent law of other countries or jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our current and any future drug candidates.
  • We may not be able to protect our intellectual property rights throughout the world, which could negatively impact our business.
  • Reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed.
  • Risks Related to Our Dependence on Third Parties
  • We do not have our own manufacturing capabilities and will rely on third parties to produce clinical and commercial supplies of our current and any future drug candidates.
  • We rely on third parties to conduct, supervise and monitor our preclinical studies and clinical trials, and if those third parties perform in an unsatisfactory manner, it may harm our business.
  • Risks Related to Our Business Operations, Employee Matters and Managing Growth
  • We are highly dependent on the services of our senior management team, including our President and Chief Executive Officer, Margaret “Meg” Alexander, and our Executive Chairman, Dr. Jeremy M. Levin, and if we are not able to retain these members of our management team or recruit and retain additional management, clinical and scientific personnel, our business will be harmed.
  • We may need to expand our organization, and we may experience difficulties in managing this growth, which could disrupt our operations.
  • Our employees, principal investigators, consultants and commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
  • If our information technology systems or data, or those of the third parties upon with whom we work, are or were compromised, we could experience adverse impacts resulting from such compromise, including, but not limited to, regulatory investigations or actions, litigation, fines and penalties, interruptions to our operations such as our clinical trials, claims that we breached our data protection obligations, harm to our reputation, and a loss of future customers or sales and other adverse consequences.
  • We and the third parties with whom we work are subject to stringent and evolving privacy and security laws, regulations, contractual obligations, industry standards, policies, and other obligations, and our failure or perceived failure to comply with such obligations could result in regulatory investigations or actions, litigation (including class actions), fines and penalties, disruptions of our business operations, loss of revenue or profits, reputational damage and other adverse business consequences.
  • Our ability to use our net operating loss (“NOL”) carryforwards and certain other tax attributes to offset future taxable income may be subject to limitation.
  • Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition, or results of operations.
  • Risks Related to Being a Public Company
  • We are a “smaller reporting company” and the reduced disclosure requirements applicable to such companies may make our common stock less attractive to investors.
  • We have previously identified material weaknesses in our internal control over financial reporting. If we fail to maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately report our financial condition, results of operations or cash flows, which may adversely affect investor confidence in us and, as a result, the value of our common stock.
  • Risks Related to the Ownership of Our Common Stock and Other General Matters
  • The market price of our common stock has been and will likely remain volatile and fluctuate substantially, which could result in substantial losses for holders of our common stock.
  • Concentration of ownership of our common stock among our executive officers, directors and principal stockholders may prevent new investors from influencing significant corporate decisions.
  • If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.
  • Because we do not anticipate paying any dividends on our capital stock in the foreseeable future, capital appreciation, if any, will be stockholders’ sole source of gain.
  • Provisions in our organizational documents and under Delaware law could make an acquisition of us, which may be beneficial to our stockholders, more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • We may be subject to securities litigation, which is expensive and could divert management attention.
  • Some provisions of our organizational documents and the DGCL may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would benefit our stockholders and may prevent attempts by our stockholders to replace or remove our current management.

Legal proceedings

From time to time, we may become subject to various legal proceedings and claims that arise in the ordinary course of our business activities. We are not currently subject to any material legal proceedings.

The opening of Item 3, Legal Proceedings.4

Sources

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