Axsome Therapeutics Joins the American Migraine Foundation to Highlight Unmet Treatment Needs During Migraine & Headache Awareness Month

Rhea-AI Summary

Axsome Therapeutics (NASDAQ: AXSM) announced its participation in the American Migraine Foundation's efforts for Migraine & Headache Awareness Month in June 2024. This initiative aims to raise awareness about unmet treatment needs for the 37 million Americans suffering from migraines, which cause significant physical, emotional, and economic impacts. The American Migraine Foundation emphasizes the importance of education, support, community, and research to improve patient outcomes and societal attitudes toward migraines. Notably, 70% of migraine sufferers are dissatisfied with current treatments, and nearly 80% are open to trying new therapies.

Positive

• Axsome Therapeutics joins a respected foundation for a high-visibility awareness campaign.
• Increased awareness of migraine treatment needs could drive demand for novel therapies, potentially benefiting AXSM.
• Axsome’s involvement aligns with its mission to address CNS disorders, enhancing its reputation.
• The company could benefit from partnerships and collaborations within the migraine advocacy community.

Negative

• No direct financial or clinical data provided about Axsome's products or performance.
• High patient dissatisfaction with current treatments could indicate significant unmet needs, which may challenge treatment efficacy.

NEW YORK, June 04, 2024 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a biopharmaceutical company developing and delivering novel therapies for the management of central nervous system (CNS) disorders, announced today it is joining the migraine advocacy community to raise awareness of unmet patient needs during Migraine & Headache Awareness Month this June.

“Education plays a crucial role in addressing the stigma associated with migraine, a complex neurological disorder often misunderstood as just a headache. By increasing awareness and understanding of migraine's true nature and its potential to cause significant physical, emotional, and economic impact, education can foster empathy and improve societal attitudes towards those affected,” said Nim Signh Vice Chair of American Migraine Foundation (AMF). “The American Migraine Foundation, whose mission is focused on education, support, community, and research, believes those pillars, when working in conjunction with one another, have the most impact on the lives of those impacted by migraine. AMF's programs focus on removing barriers to timely and effective medical treatment, education to support patients to foster effective conversations with their loved ones, employers, and healthcare providers, and research that can hopefully drive the field forward towards precision medicine so that treatments are matched accurately to the individual. Ensuring accessible healthcare is essential for enabling proactive management of migraine and minimizing its extensive impacts on individuals' health and well-being.”

More than 37 million Americans suffer from migraine according to the Centers for Disease Control, and it is the leading cause of disability among neurological disorders in the United States according to the American Migraine Foundation. Migraine is characterized by recurrent attacks of pulsating, often severe and disabling head pain associated with nausea, and sensitivity to light and or sound. It is estimated that migraine accounts for $78 billion in direct (e.g. doctor visits, medications) and indirect (e.g. missed work, lost productivity) costs each year in the United States.¹ Published surveys of migraine sufferers indicate that more than 70% are not fully satisfied with their current treatment, that nearly 80% would try a new therapy, and that they desire treatments that work faster, more consistently, and result in less symptom recurrence.^2,3

To learn more about migraine advocacy organizations and the resources they provide, please visit the following websites:

• American Migraine Foundation (https://americanmigrainefoundation.org/). American Migraine Foundation provides free support for millions of Americans living with migraine.
• Association of Migraine Disorders (https://www.migrainedisorders.org/). Association of Migraine Disorders strives to expand the understanding of migraine by supporting research, education and awareness.
• CHAMP (https://headachemigraine.org/). The Coalition for Headache and Migraine Patients brings together the patient advocacy organizations to more effectively fight stigma and help people achieve fair access to treatments. 
• Miles for Migraine (https://www.milesformigraine.org/). Miles for Migraine is dedicated to improving the lives of individuals with migraine and headache disease by creating a supportive community for patients and their families.
• National Headache Foundation (https://headaches.org/). National Headache Foundation increases public awareness regarding headache disorders and the impact it has on the individual, their families, and society.
  

About Axsome Therapeutics, Inc.

Axsome Therapeutics, Inc. is a biopharmaceutical company developing and delivering novel therapies for central nervous system (CNS) conditions that have limited treatment options. Through development of therapeutic options with novel mechanisms of action, we are transforming the approach to treating CNS conditions. At Axsome, we are committed to developing products that meaningfully improve the lives of patients and provide new therapeutic options for physicians. For more information, please visit the Company’s website at axsome.com. The Company may occasionally disseminate material, nonpublic information on the company website.

Forward Looking Statements

Certain matters discussed in this press release are “forward-looking statements”. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. In particular, the Company’s statements regarding trends and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the continued commercial success of our Sunosi^® and Auvelity^® products and the success of our efforts to obtain any additional indication(s) with respect to solriamfetol and/or AXS-05; the success, timing and cost of our ongoing clinical trials and anticipated clinical trials for our current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including our ability to fully fund our disclosed clinical trials, which assumes no material changes to our currently projected revenues or expenses), futility analyses and receipt of interim results, which are not necessarily indicative of the final results of our ongoing clinical trials, and/or data readouts, and the number or type of studies or nature of results necessary to support the filing of a new drug application (“NDA”) for any of our current product candidates; our ability to fund additional clinical trials to continue the advancement of our product candidates; the timing of and our ability to obtain and maintain U.S. Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, our product candidates, including statements regarding the timing of any NDA submission; whether issues identified by FDA in the complete response letter may impact the potential approvability of the Company’s NDA for AXS-07 for the acute treatment of migraine in adults with or without aura, pursuant to our special protocol assessment for the MOMENTUM clinical trial; the Company’s ability to successfully defend its intellectual property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the Company’s research and development programs and collaborations; the success of the Company’s license agreements; the acceptance by the market of the Company’s products and product candidates, if approved; the Company’s anticipated capital requirements, including the amount of capital required for the continued commercialization of Sunosi and Auvelity and for the Company’s commercial launch of its other product candidates, if approved, and the potential impact on the Company’s anticipated cash runway; unforeseen circumstances or other disruptions to normal business operations arising from or related to geo-political conflicts or a global pandemic and other factors, including general economic conditions and regulatory developments, not within the Company’s control. The factors discussed herein could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstance.

Axsome Contacts:

Investors:
Mark Jacobson
Chief Operating Officer
Axsome Therapeutics, Inc.
One World Trade Center, 22^nd Floor
New York, NY 10007
Tel: 212-332-3243
Email: mjacobson@axsome.com
www.axsome.com

Media:
Darren Opland
Director, Corporate Communications
Axsome Therapeutics, Inc.
One World Trade Center, 22^nd Floor
New York, NY 10007
Tel: 929-837-1065
Email: dopland@axsome.com
www.axsome.com

References:

1. Gooch CL, Pracht E, Borenstein AR. The burden of neurological disease in the United States: A summary report and call to action. Ann Neurol. 2017 Apr; 81(4):479-484.
2. Smelt AF, Louter MA, Kies DA, Blom JW, Terwindt GM, van der Heijden GJ, De Gucht V, Ferrari MD, Assendelft WJ. What do patients consider to be the most important outcomes for effectiveness studies on migraine treatment? Results of a Delphi study. PLoS One. 2014 Jun 16;9(6):e98933.
3. Lipton RB, Stewart WF. Acute migraine therapy: do doctors understand what patients with migraine want from therapy? Headache. 1999;39(suppl 2):S20-S26
   

FAQ

What is Axsome Therapeutics' stock symbol?

Axsome Therapeutics' stock symbol is AXSM.

What event is Axsome Therapeutics participating in during June 2024?

Axsome Therapeutics is participating in the Migraine & Headache Awareness Month in June 2024.

Why is Axsome Therapeutics joining the American Migraine Foundation's efforts?

Axsome Therapeutics is joining to raise awareness about the unmet treatment needs of migraine sufferers and to support the foundation's mission of education, support, community, and research.

How many Americans suffer from migraines?

According to the Centers for Disease Control, more than 37 million Americans suffer from migraines.

What percentage of migraine sufferers are dissatisfied with current treatments?

Over 70% of migraine sufferers are not fully satisfied with their current treatments.

What is the economic impact of migraines in the United States?

Migraines account for $78 billion in direct and indirect costs each year in the United States.

What is the mission of the American Migraine Foundation?

The mission of the American Migraine Foundation is focused on education, support, community, and research to improve the lives of those impacted by migraines.