Here's Why Axsome Therapeutics Stock Is Surging Today
Shares of Axsome Therapeutics (NASDAQ: AXSM), a clinical-stage biotech company, were up 8% as of 2:10 p.m. EDT on Wednesday. The company hasn't had anything to say about its lead candidate, and that's a lot better than the devastating news that investors had feared.
At the beginning of the summer, investors had been expecting the Food and Drug Administration to issue an approval decision for AXS-05, the company's experimental new treatment for major depressive disorder. On July 30, though, the agency told Axsome that it had identified deficiencies in the application that preclude discussion of labeling and post-marketing requirements at the time.
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Source Fool.com
