Ovid's Shares Surge In Pre-Market Trading After New Clinical Data And $60 Million Financing Deal

Shares of Ovid Therapeutics jumped more than 26% pre-market after the company released new clinical data, announced expansion of its epilepsy programs, and disclosed a $60 million private placement. The combined clinical progress and financing materially de-risks near-term funding for program advancement and likely prompted the sharp intraday move by investors.

Analysis

Shares of Ovid Therapeutics jumped more than 26% pre-market after the company released new clinical data, announced expansion of its epilepsy programs, and disclosed a $60 million private placement. The combined clinical progress and financing materially de-risks near-term funding for program advancement and likely prompted the sharp intraday move by investors.