Exhibit 5.1
Jaime L. Chase
+1 202 728
7096
jchase@cooley.com
May 14, 2024
Ovid Therapeutics Inc.
441 Ninth Avenue, 14th Floor
New York, New York 10001
Ladies and Gentlemen:
We have acted as counsel to Ovid Therapeutics Inc., a Delaware corporation (the Company), in connection with the filing by the
Company of a registration statement on Form S-8 (the Registration Statement) with the Securities and Exchange Commission (the Commission) covering the
offering of up to 3,534,599 shares (the Shares) of the Companys common stock, par value $0.001 per share, issuable pursuant to the Companys 2017 Equity Incentive Plan (the Plan).
In connection with this opinion, we have examined and relied upon (a) the Registration Statement and the related prospectuses, (b) the
Companys certificate of incorporation and bylaws, each as currently in effect, (c) the Plan and (d) such other records, documents, opinions, certificates, memoranda and instruments as in our judgment are necessary or appropriate to
enable us to render the opinion expressed below. We have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to originals of all documents submitted to us as copies, the accuracy,
completeness and authenticity of certificates of public officials and the due authorization, execution and delivery of all documents by all persons other than the Company where authorization, execution and delivery are prerequisites to the
effectiveness thereof. As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not independently verified such matters.
Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion to the extent that any other laws
are applicable to the subject matter hereof and express no opinion and provide no assurance as to compliance with any federal or state securities law, rule or regulation.
On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Plan, the
Registration Statement and the related prospectus, will be validly issued, fully paid, and nonassessable (except as to Shares issued pursuant to deferred payment arrangements, which will be fully paid and nonassessable when such deferred payments
are made in full).
Cooley LLP 1299 Pennsylvania Avenue, NW, Suite 700 Washington, DC 20004-2400
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