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Why Axsome Therapeutics Stock Is Jumping Today

TheMotleyFool

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Why Axsome Therapeutics Stock Is Jumping TodayPhoto, wide shot, wide-angle lens, Supermarket, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.theapi.app/temp/12c4d93c-5c0e-4e39-8e32-e47404ce9d79.png

Shares of Axsome Therapeutics (NASDAQ: AXSM) were up by 7.5% as of 11:55 a.m. EDT Monday. The gain came after the company announced a delay in the Food and Drug Administration's review of its application for AXS-05 to be approved as a treatment for major depressive disorder.

The FDA had originally set a Prescription Drug User Fee Act (PDUFA) date of Aug. 22 to complete its review of the regulatory filing for AXS-05. However, Axsome said that the agency informed it on Aug. 20 that it wouldn't meet that target date.

Image source: Getty Images.

Source Fool.com

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