Ganaxolone

Ovid Therapeutics Inc. (Nasdaq: OVID), a New York-based biopharmaceutical company developing small molecule therapies for neurological disorders, announced a USD 60 million private placement to fund the expansion of its lead epilepsy candidate, OV329, into two additional indications: tuberous sclerosis complex and infantile spasms. The PIPE financing, expected to close on or about March 19, 2026, follows an earlierprivate placement initiated in October 2025 to raise up to USD 175 million, reflecting the company’s ongoing capital requirements as it broadens OV329’s clinical development program across multiple developmental and epileptic encephalopathies. Under the terms of the securities purchase agreement, Ovid is selling 19,154,321 shares of common stock at USD 2.01 per share alongside pre-funded warrants to purchase up to 10,701,710 additional shares at a purchase price of USD 2.009 per pre-funded warrant. The pre-funded warrants carry an exercise price of USD 0.001 per share and are immediately exercisable. Point72 led the financing, with participation from existing investors Adage Capital Management, ADAR1 Capital Management, Affinity Asset Advisors, Ally Bridge Group, Balyasny Asset Management, Coastlands Capital, Eventide Asset Management, Janus Henderson Investors, and RA Capital Management. Leerink Partners served as lead placement agent, with Oppenheimer & Co. and LifeSci Capital acting as co-placement agents. The press release did not indicate participation by company insiders. Company overview and pipeline Ovid Therapeutics is a New York-based biopharmaceutical company focused on developing targeted small molecule candidates that modulate factors involved in neuronal hyperexcitability across multiple neurological and neuropsychiatric disorders. The company’s lead asset, OV329, is a next-generation GABA-aminotransferase inhibitor under development for treatment-resistant focal onset seizures and developmental and epileptic encephalopathies, including tuberous sclerosis complex (TSC) and infantile spasms (IS). The proceeds from this financing will support the expansion of OV329 into those additional indications. In a separate release, Ovid states it is planning to initiate a TSC-associated seizures study in Q4 2026, and an IS study in 2027. Beyond OV329, Ovid is developing OV4071 and a library of related compounds that directly activate the KCC2 transporter, targeting multiple central nervous system disorders. The KCC2 program originated from an exclusive license agreement with AstraZeneca completed in January 2022, under which Ovid paid USD 5 million in cash and USD 7.5 million in common stock, with AstraZeneca eligible for development and commercial milestones and royalties. Development of OV4071 is initially focused on psychosis associated with Parkinson’s disease and Lewy body dementia. Ovid’s earlier pipeline assets have largely been divested or out-licensed as the company has narrowed its focus toward epilepsy. In June 2025, Ovid sold its worldwide ganaxolone royalty rights and licensing to Immedica Pharma AB for USD 7.0 million. The company’s former collaboration with Takeda on soticlestat (TAK-935/OV935) for Dravet syndrome and Lennox-Gastaut syndrome was restructured in 2021 in a deal valued at up to approximately USD 856 million in milestones and royalties, with Takeda assuming Ovid’s 50% global share. Previously completed clinical trials include a Phase III study of OV101 (gaboxadol) in Angelman syndrome and a Phase II open-label extension of TAK-935 in rare epilepsies. Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Comment * Name * Email * Website

Ovid Therapeutics Inc. (Nasdaq: OVID), a New York-based biopharmaceutical company developing small molecule therapies for brain disorders, announced a USD 60 million private placement to fund the expansion of its lead clinical program, OV329, into additional neurological indications. The PIPE financing, expected to close on or about March 19, 2026, will support development of OV329 in tuberous sclerosis complex and infantile spasms, alongside general research and development activities. The company intends to combine the net proceeds with existing cash, cash equivalents, and marketable securities. Under the terms of the securities purchase agreement, Ovid is selling 19,154,321 shares of common stock at USD 2.01 per share and pre-funded warrants to purchase up to 10,701,710 additional shares at a purchase price of USD 2.009 per pre-funded warrant. The pre-funded warrants carry an exercise price of USD 0.001 per share and are immediately exercisable. Point72 led the financing, with participation from existing investors including Adage Capital Management, ADAR1 Capital Management, Affinity Asset Advisors, Ally Bridge Group, Balyasny Asset Management, Coastlands Capital, Eventide Asset Management, Janus Henderson Investors, and RA Capital Management. Leerink Partners served as lead placement agent, with Oppenheimer & Co. and LifeSci Capital acting as co-placement agents. Company overview and pipeline Ovid Therapeutics is focused on developing targeted small molecule candidates that modulate factors involved in neuronal hyperexcitability across multiple neurological and neuropsychiatric disorders. The company’s lead asset, OV329, is a next-generation GABA-aminotransferase inhibitor being developed as a potential therapy for treatment-resistant focal onset seizures and developmental and epileptic encephalopathies, including tuberous sclerosis complex and infantile spasms. The press release did not specify the current clinical phase of OV329 or provide a timeline for upcoming milestones in these new indications. Ovid’s broader pipeline includes OV4071 and a library of related compounds designed to directly activate the KCC2 transporter, targeting multiple central nervous system disorders. The company has previously advanced OV101 (gaboxadol) through Phase III testing in Angelman syndrome, with a completed randomized, double-blind study enrolling 104 patients and an open-label extension study (ELARA) enrolling 170 patients. OV101 was also evaluated in a completed Phase II trial in Fragile X syndrome. In July 2020, Ovid licensed exclusive European rights to OV101 for Angelman syndrome to Angelini Pharma. On the business development side, Ovid has undergone a period of portfolio restructuring. In June 2024, Takeda secured global development and commercialization rights to soticlestat (TAK-935), a cholesterol 24-hydroxylase inhibitor previously co-developed with Ovid for Dravet syndrome and Lennox-Gastaut syndrome. In June 2025, Ovid sold 100% of its ganaxolone royalty rights to Immedica Pharma AB for USD 7 million in cash. The company also holds a collaboration with Graviton Bioscience, established in May 2023, focused on developing brain-penetrant ROCK2 inhibitors for rare neurological diseases marked by seizures. Leave a Reply Cancel reply Your email address will not be published. Required fields are marked * Comment * Name * Email * Website