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.