Ovid Therapeutics Announces Addition to the Nasdaq Biotechnology Index

Rhea-AI Summary

Ovid Therapeutics Inc. (NASDAQ: OVID) has been added to the Nasdaq Biotechnology Index, effective December 21, 2020. The Nasdaq Biotechnology Index includes securities listed on the NASDAQ that are classified as biotechnology or pharmaceutical. Ovid is focused on developing treatments for rare neurological diseases, with OV935 (soticlestat) expected to enter pivotal trials in 2021. Additionally, they are evaluating OV101 (gaboxadol) for Angelman and Fragile X syndromes.

Positive

• Inclusion in the Nasdaq Biotechnology Index could enhance visibility and attract more institutional investors.
• OV935 (soticlestat) is poised to enter pivotal clinical trials in 2021, indicating progress in drug development.
• The company's focus on rare neurological diseases positions it in a niche market with potential high demand.

Negative

• None.

NEW YORK, Dec. 16, 2020 (GLOBE NEWSWIRE) -- 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 has been added to the Nasdaq Biotechnology Index (Nasdaq: NBI). The addition will become effective prior to market open on Monday, December 21, 2020.

The NASDAQ Biotechnology Index is designed to track the performance of a set of securities listed on the NASDAQ Stock Market® (NASDAQ®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB). The NASDAQ Biotechnology Index is re-ranked annually and all securities in the index are listed on the NASDAQ Global Market or the NASDAQ Global Select Market, and meet minimum market value and share volume requirements among other criteria. The NASDAQ Biotechnology Index is the basis for the iShares NASDAQ Biotechnology Index^SM Fund. In addition, options based on the iShares NASDAQ Biotechnology Index Fund trade on various exchanges. For more information about the NASDAQ Biotechnology Index visit https://indexes.nasdaqomx.com/Index/Overview/NBI.

About Ovid Therapeutics

Ovid Therapeutics Inc. is a New York-based biopharmaceutical company using its BoldMedicine^® approach to develop medicines that transform the lives of patients with rare neurological disorders. The Company is developing OV935 (soticlestat) in collaboration with Takeda Pharmaceutical Company Limited, which is expected to initiate its pivotal clinical trials in 2021 for the potential treatment of rare developmental and epileptic encephalopathies (DEEs). OVID is evaluating the results of the NEPTUNE trial of OV101 (gaboxadol) for the treatment of Angelman syndrome  and Fragile X syndrome. For more information on Ovid, please visit www.ovidrx.com.

Contacts

Investors and Media:
Ovid Therapeutics Inc.
Investor Relations & Public Relations
irpr@ovidrx.com

OR

Investors:
Argot Partners
Maeve Conneighton/Dawn Schottlandt
212-600-1902
ovid@argotpartners.com

Media:
Dan Budwick
1AB
dan@1abmedia.com

FAQ

When will Ovid Therapeutics be added to the Nasdaq Biotechnology Index?

Ovid Therapeutics will be added to the Nasdaq Biotechnology Index before the market opens on December 21, 2020.

What is the significance of the Nasdaq Biotechnology Index for Ovid Therapeutics?

Being added to the Nasdaq Biotechnology Index increases Ovid Therapeutics' visibility and may attract more institutional investors.

What clinical trials is Ovid Therapeutics planning for OV935?

Ovid Therapeutics plans to initiate pivotal clinical trials for OV935 (soticlestat) in 2021.

What neurological diseases is Ovid Therapeutics targeting?

Ovid Therapeutics is developing treatments for rare neurological diseases, including Angelman syndrome and Fragile X syndrome.

What is the role of the Nasdaq Biotechnology Index?

The Nasdaq Biotechnology Index tracks the performance of biotechnology and pharmaceutical securities listed on the NASDAQ, serving as a benchmark for the sector.