Why Axsome Therapeutics Stock Is Skyrocketing Today
Shares of Axsome Therapeutics (NASDAQ: AXSM) were skyrocketing 24.6% higher as of 10:08 a.m. EDT on Monday. The huge jump came after the biotech announced positive results from a late-stage clinical study evaluating AXS-05 in treating agitation in patients with Alzheimer's disease.
Axsome reported that AXS-05 met the study's primary endpoint of a statistically significant mean reduction in the Cohen Mansfield Agitation Inventory (CMAI) total score compared to placebo after five weeks. CMAI is a scale on which caregivers rate the frequency of agitation in patients with dementia. AXS-05 achieved a mean percentage reduction from baseline of 48% compared to a 38% reduction for placebo. Also, 73% of patients receiving AXS-05 achieved 30% or greater improvement from baseline versus 57% of patients on placebo to do so.
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Source Fool.com
