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Why Axsome Therapeutics Stock Is Bolting Higher Today

TheMotleyFool

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Why Axsome Therapeutics Stock Is Bolting Higher 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 the clinical-stage biotech Axsome Therapeutics (NASDAQ: AXSM) are up by a healthy 14.3% as of 1:22 p.m. ET on Tuesday. The drugmaker's shares are pushing higher today in response to the company's 2021 fourth-quarter and full results.

What's the primary reason behind today's double-digit move higher? Axsome's Q4 earnings report and management's accompanying conference call this morning both suggested that the experimental major depression disorder (MDD) drug AXS-05 could be approved within a matter of weeks from now.

Image source: Getty Images.

Source Fool.com

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