Ovid's snap­shot of broad ef­fi­ca­cy da­ta for their PhII An­gel­man syn­drome tri­al can't stop a rout -- shares crushed

Ovid Ther­a­peu­tics $OVID says it picked up a snap­shot of broad, pos­i­tive ef­fi­ca­cy in its Phase II study of a new drug for rare cas­es of An­gel­man syn­drome and will now turn to the FDA to see about map­ping out a reg­is­tra­tional path­way with the FDA for a piv­otal test. But the biotech has to clear some hur­dles ahead if it ex­pects to con­vince an­a­lysts of the drug’s po­ten­tial. And its share price was crushed Mon­day morn­ing as skep­tics pounced.

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