Ovid Therapeutics’ Cybersecurity Challenges: Navigating IT Risks and Third-Party Dependencies

Ovid Therapeutics (OVID) has disclosed a new risk, in the Cyber Security category.

Ovid Therapeutics faces significant business risks stemming from its reliance on information technology systems and infrastructure, which are vulnerable to evolving cybersecurity threats. The company’s dependence on third-party vendors, who may subcontract further, complicates its ability to monitor information security practices. Security incidents, such as past business email compromises, highlight potential financial, legal, and reputational consequences, including breaches of data protection obligations. Increased global tensions and the rise of hybrid work models further exacerbate these risks, potentially leading to loss of customers and adverse business outcomes.

Overall, Wall Street has a Moderate Buy consensus rating on OVID stock based on 1 Buy.

To learn more about Ovid Therapeutics’ risk factors, click here.