BioCentury
ARTICLE | Financial News

Ovid dips in first trading day

May 6, 2017 12:00 AM UTC

Ovid Therapeutics Inc. (NASDAQ:OVID) fell $2.75 (18%) to $12.25 in its first day of trading Friday. The company priced its $75 million IPO after market hours on Thursday (see BioCentury Extra, May 4).

The company's lead candidate, gaboxadol (OV101), is in Phase II testing to treat Angelman syndrome. The small molecule is a selective, extrasynaptic agonist of GABA A receptor delta (GABRD). Ovid has exclusive, worldwide rights to gaboxadol from H. Lundbeck A/S (CSE:LUN)...

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Ovid Therapeutics Inc.

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GABA A receptor delta (GABRD)