Ovid Therapeutics Inc. 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk The primary objectives of our investment activities are to ensure liquidity and to preserve capital. As of June 30, 2022, we had cash, cash equivalents and marketable securities totaling $152.4 million. Our primary exposure to market risk is interest rate sensitivity, which is affected by changes in the general level of U.S. interest rates. Due to the short-term maturities of our cash equivalents and marketable securities and the low risk profile of our investments, an immediate 100 basis point change in interest rates would not have a material effect on the fair market value of our cash equivalents and marketable securities. To minimize the risk in the future, we intend to maintain our portfolio of cash equivalents and marketable securities in institutional market funds that are comprised of U.S. Treasury and U.S. Treasury-backed repurchase agreements as well as treasury notes and high quality short-term corporate bonds.