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Rare neurological disorder biotech Ovid Therapeutics sets terms for $80 million IPO

Ovid Therapeutics, a clinical-stage biotech developing treatments for rare neurological disorders, announced terms for its IPO on Tuesday.

The New York, NY-based company plans to raise $80 million by offering 5 million shares at a price range of $15 to $17. Insiders intend to purchase $20 million worth of shares (25%) in the offering. At the midpoint of the proposed range, Ovid Therapeutics would command a fully diluted market value of $428 million.

Ovid Therapeutics was founded in 2014 and it plans to list on the Nasdaq under the symbol OVID. Citi, Cowen & Company, William Blair and JMP Securities are the joint bookrunners on the deal. No timing information was available.

The article Rare neurological disorder biotech Ovid Therapeutics sets terms for $80 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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