Axsome declines after mixed data from Alzheimer's-related drug

Axsome Therapeutics

30/12/2024 12:44

** Shares of Axsome Therapeutics  AXSM.O  fall 8.2% to
$79.60 premarket
    ** AXSM says its experimental drug failed to meet the main
goal in one of two late-stage studies in patients with
Alzheimer's disease related agitation 
        ** The drug, AXS-05, did not show statistically
significant improvement in delaying relapse time of agitation in
patients compared to placebo 
  
        ** However, AXSM said the results "numerically favoured"
the drug over placebo across main and secondary goals 
  
        ** In the other study, AXS-05 helped delay relapse time
in patients compared to placebo
  
    ** Agitation is a symptom that causes emotional distress as
well as verbal and physical aggressiveness
    ** Co plans to submit its marketing application to U.S. FDA
in H2 2025
    ** As of last close, stock has risen ~9% since December 2023

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))