Here's Why Ovid Therapeutics Stock Popped Higher Today

Ovid Therapeutics (NASDAQ: OVID) stock rose by more than 18% as of 12 a.m. today. The biopharmaceutical company is devoted to developing medicines for people with epilepsy and other brain conditions, and today's rise follows some positive newsflow on its most exciting pipeline program, OV329.

The company defines OV329 as a "next-generation GABA-aminotransferase (GABA-AT) inhibitor being developed as a potential medicine for rare and treatment-resistant forms of epilepsy and seizures." Inhibiting the enzyme GABA aminotransferase (GABA-AT) activity increases γ-aminobutyric acid (GABA) levels, thereby reducing hyperexcitability, brain activity, and seizures.

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Source Fool.com