Jeremy Levin, Ovid CEO

Ovid gets quick raise off PhII seizure re­sults. Can the re­sults hold up against GW?

Ovid Ther­a­peu­tics in­vestors have most eyes on the Phase III tri­al for their lead drug for An­gel­man syn­drome and whether some con­tro­ver­sial Phase II find­ings will prove a fluke or not.

There are oth­er drugs in the pipeline, though, and on Tues­day, Ovid $OVID was able to tout par­tial­ly pos­i­tive re­sults for their sec­ond-most ad­vanced com­pound: soti­cle­stat, a Take­da-part­nered in­hibitor be­ing de­vel­oped for Dravet’s syn­drome and Lennox-Gas­taut syn­drome, a pair of dis­or­ders that caus­es se­vere seizures ear­ly in child­hood.  They quick­ly used the news to raise more cash, an­nounc­ing the pric­ing of a $50 mil­lion of­fer­ing at $8 per share with­in an hour of the tri­al re­lease.

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