Ovid Therapeutics Inc. Form 8-K Filing

Ovid Therapeutics Inc. has entered into a Securities Purchase Agreement and a Registration Rights Agreement on March 17, 2026. The company agreed to issue and sell approximately 19.15 million shares of common stock at $2.01 per share and pre-funded warrants to purchase up to 10.7 million shares at $2.009 per warrant. This private placement, a PIPE financing, is expected to raise $60.0 million in gross proceeds. The funds will be used to advance the development of OV329 for tuberous sclerosis complex and infantile spasms, and for general R&D expenses. Leerink Partners, Oppenheimer & Co., and LifeSci Capital are acting as placement agents. The closing is anticipated around March 19, 2026. Additionally, the company issued a press release on March 18, 2026, announcing new OV329 data, Phase 1 clearance for OV4071, and its fourth quarter and full year 2025 financial results. The securities were offered under Section 4(a)(2) of the Securities Act, with an exemption from registration.