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Here's Why Axsome Therapeutics Shares Jumped Again Today

TheMotleyFool

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Here's Why Axsome Therapeutics Shares Jumped Again TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Axsome Therapeutics (NASDAQ: AXSM) rose as much as 14.8% today after the company announced the pricing of a public stock offering. The pharma will offer up to 2.3 million shares at $87 apiece and raise up to $200 million in gross proceeds.

Management is wisely taking advantage of a soaring stock price thanks to favorable results for its lead drug candidate. Shares of Axsome Therapeutics have jumped 264% in the last month and 3,460% since the beginning of 2019.

As of 10:19 a.m. EST on Thursday, the pharma stock had settled to an 11.1% gain.

Source Fool.com

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