Ovid Therapeutics Announces Addition to the Nasdaq Biotechnology Index
Ovid Therapeutics Inc. (NASDAQ: OVID) has been added to the Nasdaq Biotechnology Index, effective December 21, 2020.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
Details
News Market Reaction – OVID
The recorded move for OVID in the trading session of this news was +6.59%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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 IndexSM 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
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