SCHEDULE: Takeda Amends Ovid Therapeutics Stake to 12.3%

Takeda Pharmaceutical Company Limited and its subsidiary Takeda Pharmaceuticals U.S.A., Inc. have filed an amendment to their beneficial ownership of Ovid Therapeutics Inc., reporting an aggregate stake of 12.3%.

Summary

• Takeda Pharmaceutical Company Limited and its subsidiary, Takeda Pharmaceuticals U.S.A., Inc., have filed an Amendment No. 4 to their Schedule 13G regarding beneficial ownership of Ovid Therapeutics Inc. common stock.
• Takeda Pharmaceutical Company Limited beneficially owns an aggregate of 8,781,996 shares, representing 12.3% of Ovid Therapeutics Inc.'s common stock.
• This ownership is comprised of 1,781,996 shares held directly by Takeda Pharmaceutical Company Limited and 7,000,000 shares held by Takeda Pharmaceuticals U.S.A., Inc. (TPUSA).
• TPUSA is a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited through an intermediate holding company.
• Takeda Pharmaceuticals U.S.A., Inc. beneficially owns 7,000,000 shares, representing 9.8% of Ovid Therapeutics Inc.'s common stock, with shared voting and dispositive power.
• The percentage of class is based on 71,212,353 shares of Common Stock issued and outstanding as of November 7, 2025, as reported in Ovid Therapeutics Inc.'s Quarterly Report on Form 10-Q filed on November 12, 2025.

Sentiment

Score: 6

Explanation: The filing is a factual report of beneficial ownership. The continued significant stake by a major pharmaceutical company like Takeda in Ovid Therapeutics can be interpreted as a moderately positive signal, indicating ongoing strategic interest or confidence, but it does not provide new operational or financial performance data.

Positives

• Significant ownership by a major global pharmaceutical company (Takeda) may signal confidence in Ovid Therapeutics Inc.'s long-term prospects or strategic value.
• The continued substantial stake by Takeda could imply ongoing collaboration or strategic alignment, which can be beneficial for Ovid.

Future Outlook

The filing is a factual report of beneficial ownership and does not contain forward-looking statements or guidance regarding Ovid Therapeutics Inc.'s future performance or Takeda's future intentions beyond the certification that the shares were not acquired for the purpose of changing or influencing control.

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

This Schedule 13G filing indicates a significant, ongoing institutional investment by a major global pharmaceutical company, Takeda, in Ovid Therapeutics, a biotechnology firm. Such substantial stakes are common in the pharmaceutical and biotech sectors, often stemming from strategic collaborations, licensing agreements, or prior equity investments. Takeda's continued beneficial ownership of over 12% suggests a sustained interest in Ovid's pipeline or technology, which can be a positive signal for the smaller biotech company, potentially indicating future partnership opportunities or a long-term strategic alliance.

Related Party Transactions

• Takeda Pharmaceutical Company Limited's beneficial ownership includes 7,000,000 shares held by its indirect wholly-owned subsidiary, Takeda Pharmaceuticals U.S.A., Inc., demonstrating an intra-group ownership structure.

Stakeholder Impact

• Shareholders: The continued significant stake by Takeda, a major pharmaceutical company, could be viewed positively, potentially signaling long-term strategic alignment or confidence in Ovid's value, which might support share price stability or growth.
• Employees: A stable, significant institutional investor might contribute to perceived company stability, which can positively impact employee morale and retention.
• Customers/Partners: For Ovid, Takeda's continued involvement could enhance its credibility and attractiveness for future partnerships or collaborations.

Key Dates

Recommendation

This Schedule 13G Amendment primarily reports a factual update on Takeda's beneficial ownership in Ovid Therapeutics Inc. While Takeda's continued substantial stake (12.3%) is a positive signal of strategic interest, the filing itself does not provide new operational or financial performance data for Ovid Therapeutics Inc. that would warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate, maintaining current positions while awaiting further fundamental news or financial results from Ovid Therapeutics Inc.

Keywords

Ovid Therapeutics, Takeda Pharmaceutical, Schedule 13G, Beneficial Ownership, Common Stock, Pharmaceuticals, Biotechnology, Institutional Investor, Equity Stake