Ovid Therapeutics' New Epilepsy Trial Data Ignites Rally

Ovid Therapeutics Inc (NASDAQ: OVID) shares rose 14.42% to $2.29 following the announcement of favorable topline safety data for OV329 in drug-resistant epilepsies and the initiation of a Phase 1 trial for OV4071, a potential treatment for psychosis associated with Parkinson's disease. The company secured a $60 million private investment through the sale of 19.15 million shares at $2.01 each, which, along with $90.4 million in cash and equivalents, is expected to fund operations into late 2028. Ovid plans to expand OV329's development to include tuberous sclerosis complex seizures and infantile spasms, with a proof-of-concept study anticipated to start in Q4 2026.