Here's Why Ovid Therapeutics Stock Popped Higher Today

By Lee Samaha – Mar 18, 2026 at 2:17PM ESTKey PointsOV329 may be safer and more potent than existing treatments.A $60M private placement will fund further development. Ovid Therapeutics (OVID +12.93%) stock rose by more than 18% as of 12 a.m. today. The biopharmaceutical company is devoted to developing medicines for people with epilepsy and other brain conditions, and today's rise follows some positive newsflow on its most exciting pipeline program, OV329. A next-generation treatment The company defines OV329 as a "next-generation GABA-aminotransferase (GABA-AT) inhibitor being developed as a potential medicine for rare and treatment-resistant forms of epilepsy and seizures." Inhibiting the enzyme GABA aminotransferase (GABA-AT) activity increases γ-aminobutyric acid (GABA) levels, thereby reducing hyperexcitability, brain activity, and seizures. Image source: Getty Images. The key part of that statement that healthcare investors should take away from the passage above is "next-generation," because management believes OV329 is not only more potent than the first-generation GABA-AT inhibitor Vigabatrin (Sabril) but also has a better safety and tolerability profile. The latter is a big issue because Vigabatrin has the unfortunate side effect of potentially causing permanent vision loss. The latest results The big news came today with the release of data from a Phase 1 study of OV329 using a 7 mg dose (it had previously been tested at 3mg and 5mg), which reported "no treatment-related adverse events in the 7 mg cohort." In addition, after ophthalmic assessments, "no evidence of ophthalmic or retinal changes associated with OV329." ExpandNASDAQ: OVIDOvid TherapeuticsToday's Change(12.93%) $0.26Current Price$2.27Key Data PointsMarket Cap$262MDay's Range$2.22 - $2.5052wk Range$0.24 - $2.50Volume1.3MAvg Vol1.7MGross Margin93.90% Where next for Ovid Therapeutics The safety and tolerability data are exciting, and management announced a $60 million private placement , from which it intends to support developing OV329 in other indications, namely tuberous sclerosis complex seizures and infantile spasms, on top of a Phase 2 trial for focal onset seizures in drug-resistant patients. These are exciting steps forward for the company, but, as ever with pharmaceutical companies and trials, there is a significant element of risk involved. Read NextDec 2, 2020 •By Prosper Junior BakinyWhy Ovid Therapeutics Stock Is Imploding TodayJul 25, 2020 •By Zhiyuan Sun3 Top Biotech Stocks to Buy NowJul 14, 2020 •By Prosper Junior BakinyIs Ovid Therapeutics Stock a Buy?Jun 18, 2020 •By Prosper Junior BakinyWhy Ovid Therapeutics Stock Is Soaring TodayAbout the AuthorLee Samaha is a contributing Stock Market Analyst at The Motley Fool covering industrials, electricals, energy, materials, transportation, and infrastructure stocks. Prior to The Motley Fool, Lee was a Civil Engineer and Investment Manager. He holds a Bachelor of Civil and Structural Engineering from Southampton University and a Certificate in Investment Management from Chartered Institute for Securities & Investment. Lee first cut his investing teeth on The Motley Fool bulletin boards (commonly referred to as the “Fool Boards,”) and he’s infinitely grateful to all of the investors he learned from in this powerful investing community.TMFSaintGermainX@LeeSamahaStocks MentionedOvid TherapeuticsNASDAQ: OVID$2.27(+12.93%)+$0.26*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.