Is Wall Street wrong about Ovid’s rare disease drug?
Last year, when a rare disease drug from Ovid Therapeutics worked on one metric but failed on a bunch of others, the company called it good news. Investors saw things differently, and Ovid has traded at around $2 ever since.
But scientists at the nation’s biggest neurology conference endorsed Ovid’s data over the weekend, picking the company’s trial as one of three breakthroughs presented at the meeting. Dr. Natalia Rost, a neurologist at Massachusetts General Hospital, said she was “taken aback by the importance of the work” Ovid is doing.
The company has kept the faith all along and plans to start a second study later this year, one Ovid believes will support FDA approval if it’s positive. Whether it can change the narrative on Wall Street remains to be seen.
Read more.
But scientists at the nation’s biggest neurology conference endorsed Ovid’s data over the weekend, picking the company’s trial as one of three breakthroughs presented at the meeting. Dr. Natalia Rost, a neurologist at Massachusetts General Hospital, said she was “taken aback by the importance of the work” Ovid is doing.
The company has kept the faith all along and plans to start a second study later this year, one Ovid believes will support FDA approval if it’s positive. Whether it can change the narrative on Wall Street remains to be seen.
Read more.
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