Apr. 23 at 12:06 PM
$OVID was just reading up on that offering, which took place in March, but was formally filed a few days. Here’s my positive takeaway:
Although it might be bearish for short term traders, it looks to be a significant win for the co. because it secures financial future for several years. It also looks like “smart money”. The investors behind these 29.8 million shares aren't just random traders, they include major institutional healthcare funds like Point72 Asset Management, RA Capital, and Adage Capital. Their decision to excercise warrants and hold these shares is a strong vote of confidence in Ovid’s drug pipeline.
