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Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 5:06 PM
| This Slide: #162 of 609 |
Slide #162. Ovid Therapeutics Inc. — Preferred Stock Offering
Company:
Ovid Therapeutics Inc. (NASDAQ:OVID)
Date announced:
2/19/2019
Shares Offered:
2,500
Date of Pricing:
2/20/2019
Price Per Share:
$2,000.00
Preferred Stock Offering Details:
Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced that it intends to offer and sell shares of its common stock and Series A convertible preferred stock ("Series A stock") in two concurrent but separate underwritten public offerings. Neither of the proposed common stock offering or the Series A stock offering (together, the "Offerings") are contingent upon the consummation of the other. The Offerings are subject to market and other conditions, and there can be no assurance as to whether or when the Offerings may be completed, or the actual size or terms of the Offerings. -updated 2/20- Ovid Therapeutics Inc. (Nasdaq: OVID), a biopharmaceutical company committed to developing medicines that transform the lives of people with rare neurological diseases, today announced the pricing of underwritten public offerings of (i) 12,500,000 shares of its common stock and (ii) 2,500 shares of its non-voting Series A Convertible Preferred Stock ("Series A stock") (together, the "Offerings"). The public offering price of each share of common stock is $2.00 and the public offering price of each share of Series A stock is $2,000.00. In addition, Ovid Therapeutics has granted the underwriters a 30-day option to purchase additional shares of common stock of up to 15% of the number of shares offered in the common stock offering. The Offerings are expected to close on February 22, 2019, subject to customary closing conditions.
Ovid Therapeutics is a biopharmaceutical company focus on reducing seizures and epilepsies and seizure-related neurological disorders. Co.'s pipeline has produced two epilepsy programs with potential mechanisms of action (MoA), and one epilepsy program with a potential MoA. These programs include soticlestat, which is a cholesterol 24 hydroxylase inhibitor. OV350 is a potential direct activator of the K-Cl co-transporter (KCC2) transporter, and is one among many KCC2 activator compounds in its portfolio. OV329 is a GABA aminotransferase inhibitor. Co.'s genetic research programs include OV815, which focuses on the mutations associated with KIF1A-associated neurological disorder.
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Avg. Broker Rec.
 
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Strong Buy (3.50 out of 4) 59th percentile
(ranked higher than approx. 59% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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