At $6.75/share, Ovid Therapeutics Inc. (OVID) has a fully diluted market cap of ~$430MM. After recent receipt of $20MM as an upfront payment from a new commercial partner, OVID has an approximate cash balance of $50MM. With $0 debt, OVID's enterprise valuation is therefore approximately $380MM. Should OVID's Phase 3 clinical trial of OV101 lead to FDA approval to treat Angelman Syndrome (perhaps as soon as Q42021), OV101 could be a Blockbuster therapy with estimated potential peak annual revenues well in excess of $1 billion. OVID expects to release OV101's Phase 3 top-line