Ovid adds $26M to its cof­fers as Take­da deal clos­es, build­ing a war chest for pipeline con­struc­tion work

(Ed­i­tor’s note: Four days af­ter we pub­lished this sto­ry, Ovid fol­lowed up to say that the Form D fil­ing was for the shares it is­sued to Take­da for their mi­nor­i­ty stake in the com­pa­ny af­ter strik­ing a 50/50 deal on de­vel­op­ing one of Take­da’s pro­grams. “At the time you reached out, we were con­strained by our agree­ment with Take­da from dis­cussing the num­bers you re­port­ed,” he not­ed in an e-mail to me. “Af­ter speak­ing with Take­da, we can now tell you that the $25.8m was not in con­nec­tion with a fi­nanc­ing. The shares were is­sued to Take­da in con­nec­tion with our li­cense of OV935. We did not re­ceive any cash.”)

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