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Axsome Therapeutics Inc. (AXSM) Stock: Better Than You Think

Axsome Therapeutics Inc. (NASDAQ: AXSM) received FDA clearance for its neurological candidate last week, causing the company’s stock to rise by more than 60% in a few days. On August 26, the AXSM share was valued $67.13 in trade.

Previously, Ffin.Ru discussed the intriguing development of Axsome Therapeutics Inc. (AXSM) named AXS-05, which is now being researched for the treatment of specific types of neurological illnesses.

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Despite the normal risks connected with medication development and research, the medicine’s regulatory clearance was very likely. The FDA has now formally approved the use of Auvelity (commercial name AXS-05) to treat major depressive disorder.

Auvelity’s regulatory procedure took more than a year, and several Wall Street investors thought Axsome Therapeutics would be denied.

However, in April 2022, the SEC announced that Axsome Therapeutics Inc. (AXSM) has agreed to a number of new FDA requirements for its medicine AXS-05, which is being readied for approval as a treatment for major depressive disorder. This might indicate that the regulator’s decision favors biotech.

Auvility is planned to be extensively promoted as a rapid-start treatment for people suffering from major depression. Globaldata released a report last week estimating that the drug’s yearly sales will reach $1.3 billion by 2029. Axsome Therapeutics Inc. (AXSM) is specifically testing this medication for effectiveness in the treatment of arousal in Alzheimer’s disease.

Axsome Therapeutics Inc. (NASDAQ: AXSM) shares are up 77.69% year to date (YTD) and are down -3.89% or -$2.72 in the most recent trading session. The stock’s trailing 12-month performance, on the other hand, is roughly 188.61% higher. The stock is up 138.13% in the last six months and 178.20% in the last three months. When we look at the week’s performance, it is up 12.73% and 74.18% over the month.

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