Why Shares of Axsome Therapeutics Slumped Today
Shares of biopharmaceutical company Axsome Therapeutics (NASDAQ: AXSM) had declined 6% at 11 a.m. ET today. The slump comes after the company announced the results of a phase 3 trial of solriamfetol (brand name Sunosi) in major depressive disorder (MDD).
The trial was somewhat complicated, so bear with me. It was a six-week proof-of-concept phase 3 trial for MDD "with and without severe excess daytime sleepiness (EDS)."
The primary aim of the trial was to demonstrate significant improvement in the overall population (consisting of 51 patients with severe EDS and 295 without severe EDS) using solriamfetol. The degree of severity of EDS was assessed with the Epworth Sleepiness Scale (ESS), and the trial used the Montgomery-Asberg Depression Rating Scale (MADRS).
Source Fool.com
