SCHEDULE: Affinity Asset Advisors Discloses 9% Stake in Ovid Therapeutics

Affinity Asset Advisors and Affinity Healthcare Fund have reported a 9.0% beneficial ownership stake in Ovid Therapeutics Inc., totaling 12,149,166 shares.

Summary

• Affinity Asset Advisors, LLC and Affinity Healthcare Fund, LP collectively beneficially own 12,149,166 shares of Ovid Therapeutics Inc. common stock.
• This represents 9.0% of the issuer's common stock outstanding.
• The ownership includes 7,150,000 common shares and warrants exercisable for an additional 4,999,166 common shares.
• The percentage is calculated based on 135,183,519 shares outstanding as of December 15, 2025, which includes 130,184,353 existing shares and the 4,999,166 shares from warrants held by the Fund.
• Both reporting persons share voting and dispositive power over all 12,149,166 shares.
• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing control of Ovid Therapeutics Inc.

Sentiment

Score: 7

Explanation: The disclosure of a significant 9.0% stake by a reputable institutional investor like Affinity Asset Advisors in Ovid Therapeutics Inc. is generally a positive signal, indicating confidence in the company's value or future prospects. The passive nature of the investment (no intent to influence control) suggests a belief in current management and strategy.

Positives

• A significant institutional investor, Affinity Asset Advisors, has taken a substantial 9.0% stake in Ovid Therapeutics, potentially signaling confidence in the company's long-term prospects.
• The inclusion of warrants suggests a long-term investment horizon and potential for increased ownership.

Future Outlook

The reporting persons have certified that their acquisition and holding of Ovid Therapeutics Inc. securities are not for the purpose of changing or influencing the control of the issuer, indicating a passive investment stance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

The disclosure of a significant 9.0% stake by a healthcare-focused investment fund in a therapeutics company like Ovid Therapeutics Inc. suggests potential investor interest in the biotechnology or pharmaceutical sector, particularly in companies with promising pipelines or strategic positions. Such an investment can be seen as a vote of confidence in the company's future, potentially attracting further investor attention within the industry.

Stakeholder Impact

• Shareholders: Existing shareholders may view this as a positive signal, potentially increasing confidence and attracting more investors, which could positively impact share price.
• Management: The certification of a passive investment (no intent to influence control) suggests that management's current strategy is supported by this significant investor.

Key Dates

Recommendation

The disclosure of a significant 9.0% stake by Affinity Asset Advisors in Ovid Therapeutics Inc. is a positive indicator, suggesting institutional confidence. However, without additional financial or operational details from the company, a 'hold' recommendation is prudent. This filing primarily signals investor interest rather than providing new fundamental data to warrant a 'buy' or 'sell' decision. Investors should monitor Ovid Therapeutics' future performance and strategic developments.

Keywords

Ovid Therapeutics, Affinity Asset Advisors, Affinity Healthcare Fund, Schedule 13G, beneficial ownership, common stock, warrants, institutional investment, biotechnology, pharmaceuticals