Ovid Therapeutics Inc. (NASDAQ:OVID) shares are up during Wednesday’s session following the company’s announcement of new data regarding OV329 and the initiation of a Phase 1 trial for OV4071.

Epilepsy Data

Ovid Therapeutics reported favorable topline safety and tolerability findings from a 7 mg dose cohort of OV329 for drug-resistant epilepsies.

There were no treatment-related adverse events in the 7 mg cohort, and 19 unrelated adverse events, all of which were mild and transient.

Additionally, the company plans to expand OV329’s development to include tuberous sclerosis complex seizures and infantile spasms, with a proof-of-concept study for TSC expected to begin in the fourth quarter of 2026.

The company also received clearance to begin Phase 1 clinical trials for OV4071, a potential first-in-class oral activator of potassium-chloride cotransporter 2 (KCC2), following approval from the Australian Therapeutic Goods Administration.

OV4071 is initially focused on psychosis associated with Parkinson’s disease and Lewy body dementia.

Equity Raise And Cash Runway Into 2028

On Wednesday, Ovid Therapeutics announced a private investment of $60 million via 19.15 million shares at $2.01 per share and pre-funded warrants to purchase up to 10.7 million shares at $2.009.

The company reported $90.4 million in cash, cash equivalents, and marketable securities as of Dec. 31, 2025, expected to fund key studies for OV329 and OV4071 and operations into late 2028.

It also added that exercise of outstanding warrants may further extend the runway into 2029.

Ovid Technical Analysis

The company’s stock is trading 36.2% above its 20-day SMA ($1.77) and 51.2% above its 100-day SMA ($1.59), keeping the trend firmly pointed higher across short- and intermediate-term timeframes.

The combination of RSI above 50 (63.49) and a bullish MACD (0.1210 vs. 0.0976) suggests mixed momentum.

  • Key Resistance: $2.50
  • Key Support: $2.00

OVID Price Action: Ovid Therapeutics shares were up 14.42% at $2.29 at the time of publication on Wednesday, according to Benzinga Pro data.

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