10/28/2025 | Press release | Distributed by Public on 10/28/2025 04:04
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material Pursuant to §240.14a-12
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No fee required.
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Fee paid previously with preliminary materials
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
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(1)
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To approve an amendment to our Amended and Restated Certificate of Incorporation, as amended to date, to increase the number of authorized shares of common stock from 125,000,000 to 315,000,000.
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(2)
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To approve, in accordance with Nasdaq Listing Rule 5635(d), the issuance of shares of our common stock upon the conversion of our Series B Preferred Stock and the exercise of our Series A Warrants and Series B Warrants.
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(3)
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To approve, in accordance with Nasdaq Listing Rule 5635(c), the issuance and sale of securities to our Chief Executive Officer pursuant to the Securities Purchase Agreement, dated October 2, 2025, by and between the Company and the investors party thereto.
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QUESTIONS AND ANSWERS ABOUT THESE PROXY MATERIALS AND VOTING
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1
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DESCRIPTION OF PIPE FINANCING
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7
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PROPOSAL 1: APPROVAL OF THE INCREASE IN AUTHORIZED SHARES OF COMMON STOCK
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10
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PROPOSAL 2: APPROVAL OF THE CONVERSION OF SERIES B PREFERRED STOCK AND EXERCISE OF THE SERIES A WARRANTS AND SERIES B WARRANTS
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14
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PROPOSAL 3: APPROVAL OF THE ISSUANCE OF SECURITIES TO EXECUTIVE OFFICER, IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(C)
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15
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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
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OTHER INFORMATION FOR STOCKHOLDERS
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OTHER MATTERS
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APPENDIX A
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A-1
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Proposal 1: To approve an amendment to our Amended and Restated Certificate of Incorporation, as amended to date, to increase the number of authorized shares of common stock from 125,000,000 to 315,000,000;
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Proposal 2: To approve, in accordance with Nasdaq Listing Rule 5635(d), the issuance of shares of our common stock upon the conversion of our Series B Preferred Stock and the exercise of our Series A Warrants and Series B Warrants;
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Proposal 3: To approve, in accordance with Nasdaq Listing Rule 5635(c), the issuance and sale of securities to our Chief Executive Officer pursuant to the Securities Purchase Agreement, dated October 2, 2025, by and between the Company and the investors party thereto; and
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By Internet. To vote through the internet, go to www.proxyvote.com to complete an electronic proxy card. You will be asked to provide the company number and control number from your proxy card. Your internet vote must be received by 11:59 p.m. Eastern Time on December 10, 2025 to be counted.
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By Telephone. Call 1-800-690-6903 toll-free from the United States, U.S. territories and Canada and follow the recorded instructions. You will be asked to provide the company number and control number from the enclosed proxy card. Your telephone vote must be received by 11:59 p.m. Eastern time on December 10, 2025 to be counted.
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By Proxy Card. Complete and mail the enclosed proxy card and return it promptly in the envelope provided. If you return your signed proxy card to us and we receive the proxy card before the Special Meeting, we will vote your shares as you direct.
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Online During the Special Meeting. Access the Special Meeting by visiting www.virtualshareholdermeeting.com/OVID2025SM and providing your control number from your proxy card or the instructions that accompanied your proxy materials, as applicable.
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by submitting another properly completed proxy with a later date;
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by transmitting a subsequent vote over the internet or by telephone prior to 11:59 p.m. Eastern Time on December 10, 2025;
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by attending the virtual Special Meeting and voting online during the meeting; or
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by sending a timely written notice to our Corporate Secretary in writing to 441 Ninth Avenue, 14th Floor, New York, New York 10001 or by email to [email protected], indicating that you are revoking your proxy.
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Proposal Number
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Proposal Description
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Vote Required for Approval
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Effect of
Abstentions
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1
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Approval of an amendment to our Amended and Restated Certificate of Incorporation, as amended to date, to increase the number of authorized shares of common stock
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"For" votes from the majority of the votes cast for such proposal at the Special Meeting
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No effect
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2
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Approval of the issuance of shares of our common stock upon the conversion of our Series B Preferred Stock and the exercise of our Series A Warrants and Series B Warrants
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"For" votes from the majority of the votes cast for such proposal at the Special Meeting
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No effect
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3
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Approval of the issuance of securities to our Chief Executive Officer
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"For" votes from the majority of the votes cast for such proposal at the Special Meeting
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No effect
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Stockholders may experience further dilution of their ownership.
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Stockholders will not have any preemptive or similar rights to subscribe for or purchase any additional shares of Common Stock that may be issued in the future, and therefore, future issuances of Common Stock, depending on the circumstances, will have a dilutive effect on the earnings per share, voting power and other interests of our existing stockholders.
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The additional shares of Common Stock for which authorization is sought in this proposal would be part of the existing class of Common Stock and, if and when issued, would have the same rights and privileges as the shares of Common Stock presently outstanding.
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No Conversion of Series B
Preferred Stock/Exercise of
Warrants
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Full Conversion of Series B
Preferred Stock/Exercise of
Warrants
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Shares of
Common Stock
Beneficially
Owned
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Percent of
Common
Stock
Beneficially
Owned
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Shares of
Common Stock
Beneficially
Owned
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Percent of
Common
Stock
Beneficially
Owned
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Greater than 5% Stockholders:
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Takeda Pharmaceutical Company Limited(1)
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8,781,996
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8,781,996
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Entities affiliated with Janus Henderson Biotech Innovation Master Fund Limited(2)
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-
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23,213,666
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ADAR1 Partners, L.P(3)
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-
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9,284,166
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Affinity Healthcare Fund, LP(4)
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-
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9,284,166
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Mutual Fund Series Trust, on behalf of EventideHealthcare & Life Sciences Fund(5)
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-
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9,284,166
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Federated Hermes Kaufmann Small Cap Fund(6)
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-
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7,737,166
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Directors and Named Executive Officers:
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Jeremy M. Levin, DPhil, MB BChir(7)
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7,644,440
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7,798,273
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Margaret Alexander(8)
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667,298
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667,298
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Jeffrey Rona(9)
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1,504,148
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1,504,148
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Karen Bernstein, PhD(10)
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250,656
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250,656
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Barbara Duncan(11)
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172,037
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172,037
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Kevin Fitzgerald, PhD(12)
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120,000
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120,000
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Bart Friedman, JD(13)
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230,656
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230,656
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Stelios Papadopoulos, PhD(14)
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222,500
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222,500
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All current executive officers and directors as a group (8 persons)(15)
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10,811,735
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10,965,568
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*
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Represents beneficial ownership of less than 1%.
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(1)
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Based on a Schedule 13G/A filed with the SEC on February 3, 2023, Takeda Pharmaceutical Company Limited ("Takeda") holds sole
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(2)
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Includes (a)(i) 9,069,000 shares of Common Stock underlying the Series B Preferred Stock, (ii) 6,046,000 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (iii) 4,534,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by Janus Henderson Biotech Innovation Master Fund Limited, and (b)(i) 1,645,000 shares of Common Stock underlying the Series B Preferred Stock, (ii) 1,096,666 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (iii) 822,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by Janus Henderson Biotech Innovation Master Fund II Limited.
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(3)
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Includes (a) 4,285,000 shares of Common Stock underlying the Series B Preferred Stock, (b) 2,856,666 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (c) 2,142,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by ADAR1 Partners LP.
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(4)
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Includes (a) 4,285,000 shares of Common Stock underlying the Series B Preferred Stock, (b) 2,856,666 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (c) 2,142,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by Affinity Healthcare Fund, LP.
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(5)
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Includes (a) 4,285,000 shares of Common Stock underlying the Series B Preferred Stock, (b) 2,856,666 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (c) 2,142,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by Mutual Fund Series Trust, on behalf of EventideHealthcare & Life Sciences Fund.
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(6)
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Includes (a) 3,571,000 shares of Common Stock underlying the Series B Preferred Stock, (b) 2,380,666 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (c) 1,785,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held by Federated Hermes Kaufmann Small Cap Fund.
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(7)
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Includes (a)(i) 3,616,715 shares of Common Stock, (ii) 3,992,264 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025, (iii) 71,000 shares of Common Stock underlying the Series B Preferred Stock, (iv) 47,333 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (v) 35,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case held directly by Dr. Levin, and (b) 35,461 shares held by Divo Holdings, LLC, a limited liability company managed by Margery Feldberg, Dr. Levin's spouse.
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(8)
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Includes (a) 16,373 shares of Common Stock and (b) 650,925 shares of Common Stock issuable upon the exercise of stock options within 60 days October 31, 2025, in each case held by Ms. Alexander.
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(9)
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Includes (a) 38,319 shares of Common Stock and (b) 1,465,829 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025, in each case held by Mr. Rona.
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(10)
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Includes (a) 20,000 shares of Common Stock and (b) 230,656 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025, in each case held by Dr. Bernstein.
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(11)
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Includes solely 172,037 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025 held by Ms. Duncan.
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(12)
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Includes solely 120,000 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025 held by Dr. Fitzgerald.
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(13)
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Includes solely 230,656 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025 held by Mr. Friedman.
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(14)
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Includes (a) 200,000 shares of Common Stock and (b) 22,500 shares of Common Stock issuable upon the exercise of stock options within 60 days of October 31, 2025, in each case held by Dr. Papadopoulos.
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(15)
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Consists of (a) 3,926,868 shares of Common Stock, (b) 6,884,867 shares issuable upon the exercise of stock options, (c) 71,000 shares of Common Stock underlying the Series B Preferred Stock, (d) 47,333 shares of Common Stock issuable upon the exercise of Series A Warrants within 60 days of October 31, 2025 and (e) 35,500 shares of Common Stock issuable upon the exercise of Series B Warrants within 60 days of October 31, 2025, in each case beneficially owned by our executive officers and directors as a group.
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By Order of the Board of Directors
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Jeffrey Rona
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Chief Business & Financial Officer and Corporate Secretary
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1:
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The original name of this corporation was Ovid Therapeutics Inc. and the date of filing the original Certificate of Incorporation of this corporation with the Secretary of State of the State of Delaware (the "Secretary") was April 1, 2014.
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2:
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A resolution was duly adopted by the Board of Directors of the Corporation pursuant to Sections 141 and 242 of the General Corporation Law proposing this amendment of the Corporation's Amended and Restated Certificate of Incorporation and declaring the advisability of this amendment of the Amended and Restated Certificate of Incorporation, which resolution setting forth the proposed amendment is as follows.
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"A.
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The Corporation is authorized to issue two classes of stock to be designated, respectively, "Common Stock" and "Preferred Stock." The total number of shares which the Corporation is authorized to issue is three hundred twenty-five million (325,000,000) shares. Three hundred fifteen million (315,000,000) shares shall be Common Stock, each having a par value of one-tenth of one cent ($0.001) and ten million (10,000,000) shares shall be Preferred Stock, each having a par value of one-tenth of one cent ($0.001)."
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3:
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Thereafter, pursuant to a resolution of the Board of Directors, this Certificate of Amendment was submitted to the stockholders of the Corporation for their approval and was duly adopted at an annual meeting of the stockholders of the Corporation, in accordance with the provisions of Section 242 of the General Corporation Law of the State of Delaware.
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Ovid Therapeutics Inc.
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By:
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