Why Is Ovid Therapeutics (OVID) Stock Down 69% Today?

Takeda Pharmaceutical Company Limited announced the results of its trial of soticlestat as a treatment for Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS). The bad news is that the treatment narrowly missed its primary endpoints in both of these cases. Dr. Jeremy Levin, chairman and CEO of Ovid Therapeutics, said the following about the news. Heavy trading is pulling down OVID stock on Monday. That has more than 13 million shares changing hands as of this writing. This is well above the company's dai ...