Why Axsome Therapeutics Stock Is On Fire Today

Axsome Therapeutics (NASDAQ: AXSM), a clinical-stage biopharmaceutical company developing novel treatments for central nervous system disorders, saw its shares gain as much as 84% in pre-market trading Monday morning.

The spark? Axsome's shares burst higher in pre-market action today in response to a positive late-stage readout for its NMDA receptor antagonist, AXS-05, as a treatment for major depressive disorder (MDD). Major depressive disorder is a serious behavioral disorder that can lead to suicide in extreme cases. Unfortunately, most patients do not adequately respond to the current regimen of therapies on the market, underscoring the need for new treatment options.

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Source Fool.com