NEW YORK, New York — October 3, 2025 — Leads & Copy — Ovid Therapeutics Inc. (Nasdaq: OVID) announced it has entered a securities purchase agreement for a private investment in public equity (PIPE) financing expected to yield up to $175 million. The initial gross proceeds are approximately $81 million, before fees.
The PIPE financing, expected to close around October 6, 2025, involves new investors such as Janus Henderson Investors and RA Capital Management, along with existing investors like ADAR1 Capital Management.
According to the terms, Ovid is selling 57,722 shares of Series B non-voting convertible preferred stock, Series A warrants to purchase 38,481,325 common stock shares, and Series B warrants to purchase 28,861,000 common stock shares. The sale price is $1,400.00 per security.
The company plans to use the net proceeds for research and development, general expenses, and working capital, which is expected to fund its operating plan into 2028.
TD Cowen, Leerink Partners, and Oppenheimer & Co. are joint placement agents for the PIPE financing.
The securities have not been registered under the Securities Act of 1933 and may not be reoffered or resold in the United States without registration or an applicable exemption.
Ovid Therapeutics is a biopharmaceutical company based in New York, focused on developing small molecule medicines for brain conditions.
Contact:
Victoria Fort
VFort@ovidrx.com
202.361.0445
Source: Ovid Therapeutics Inc.
