Axsome Therapeutics Shares Rise on Clinical Trial Results

Published on: 07 Jan, 2019

Shares of Axsome Therapeutics Inc.  (NASDAQ: AXSM) are more than doubling after positive trial results for the experimental drug, AXS-05. The result prompted the company’s stock to rise up to 160% in pre-market trading on Monday.

Axsome Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders. On Monday the Company announced that one of there experimental drugs that treats depression, AXS-05, met the prespecified primary endpoint and significantly improved symptoms of depression in the ASCEND Phase 2 trial in major depressive disorder (MDD).

After six weeks of the trial, the experimental drug was able to significantly improve symptoms of depression when compared to bupropion.

AXS-05 rapidly reduced depressive symptoms over those six weeks, demonstrating a statistically significant improvement over bupropion on the Clinical Global Impression-Improvement scale (CGI-I) at Week 1 (p=0.045). Starting at Week 1, AXS-05 achieved numerical superiority over bupropion on the MADRS total score, with statistical significance achieved at Week 2 and maintained at all time points thereafter.

At Week 6, 47% of patients who received AXS-05 achieved remission, prospectively defined as a score of 10 or less on the MADRS, compared with 16% of patients who received bupropion (p=0.004).

After the announcement of the positive results,  Axsome shares rose more than 160% in pre-market trading to USD 7.00 per share. This only comes as the second,  sizable gain for the stock in a week.  Axsome shares climbed 29% last Monday resulting from management release of a year-end clinical update for its drug portfolio. Axsome had a market value of USD 78.4 Million as of Friday’s close.

The experimental drug is making strides in treating depression and has now been granted fast-track status by the FDA. The drug is also being tested a treatment for agitation associated with Alzheimer’s and smoking cessation.

Professor Maurizio Fava, MD, Executive Vice Chair, Department of Psychiatry, Massachusetts General Hospital (MGH) and Associate Dean for Clinical & Translational Research, Harvard Medical School said, "Data show currently marketed antidepressants fail to provide adequate treatment response in about two-thirds of treated patients. An estimated 16 million Americans suffer from major depressive disorder each year. As an oral NMDA receptor antagonist with multimodal activity, AXS-05 could provide a new approach to treating this potentially life-threatening condition."


  • 2200Views
  • 0Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Andy Liao



Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

22 Jun, 2017 4874
07 Aug, 2017 3463
17 Aug, 2017 2812
06 Sep, 2017 3248


There is no comment on this article