AXSM News: Why Axsome Therapeutics Stock Is Skyrocketing
Axsome Therapeutics (NASDAQ:AXSM) stock was flying high on Monday following some good AXSM news.
The new bit of AXSM news from the company that has Axsome Therapeutics stock on the rise today has to do with recent results from a study. This comes from a Phase 2 trial of using its AXS-05 to treat major depressive disorder.
The Phase 2 trail saw Axsome Therapeutics distributing two different doses of AXS-05 to patients with major depressive disorder ranging from moderate to severe. This includes 45 mg dextromethorphan or 105 mg of the active comparator bupropion twice a day for six weeks.
The good AXSM news from the Phase 2 trial is that AXS-05 was able to meet its primary endpoints. This saw 17.2 point reduction on the the Montgomery-Åsberg Depression Rating Scale. In comparison, patients on bupropion saw a 12.1 point reduction on the same scale.
Axsome Therapeutics also notes that AXS-05 also worked more quickly in patients that bupropion did. This includes patients seeing significant improvement as soon as the second week of taking the drug.
Also among the AXSM news is that patients taking AXS-05 didn’t suffer from any serious adverse events during the trial. Side effects of the drug that did occur were nausea, dizziness, dry mouth, decreased appetite, and anxiety.
“These results build on the positive interim futility analyses for the Phase 3 trial of AXS-05 in treatment resistant depression and the Phase 2/3 trial of AXS-05 in Alzheimer’s disease agitation,” Herriot Tabuteau, MD, CEO of Axsome Therapeutics, said in a statement.
AXSM stock was up 185% as of Monday afternoon.
As of this writing on January 7, 2019, William White did not hold a position in any of the aforementioned securities.
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Category: Biotech Stocks
