Ovid Therapeutics Inc. (OVID), Wednesday announced an agreement with with Immedica Pharma AB to sell future royalties related to sales of ganaxolone outside of China for $7 million in cash.
Additionally, Immedica would acquire or license the global ganaxolone intellectual property portfolio from Ovid, and amend the license to include additional indications.
Ovid stated that the capital infusion would support the company's ongoing operations. Meanwhile, the deal would strengthen Immedica's focus on ganaxolone, an adjunctive treatment for epileptic seizures associated with CDKL5 deficiency disorder.
In the pre-market hours, OVID is trading at $0.32, up 7.39 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.