Axsome Therapeut - AXSM STOCK NEWS

Axsome Therapeutics (NASDAQ: AXSM) announced positive results from the Phase 3 MOVEMENT trial of AXS-07, a novel migraine treatment. Over 21,000 migraine attacks were treated, showcasing a rapid pain relief rate of approximately 70% at two hours and about 40% achieving pain freedom. Durable relief was noted, with 85% of patients not requiring rescue medications within 48 hours. The long-term safety profile was consistent with earlier controlled trials. The company expects to submit a New Drug Application (NDA) for AXS-07 in Q1 2021.

Axsome Therapeutics reported promising results from the open-label Phase 2 COMET-SI trial of AXS-05, targeting major depressive disorder (MDD) with suicidal ideation. The trial showed a 67.6% reduction in MADRS-SI scores by Week 1, with 60% of patients achieving resolution of suicidal ideation. By Week 4, reductions reached 82.4% and 78% of patients were free of suicidal thoughts. Functional improvements were notable with 51.4% of patients improving significantly by Week 1. AXS-05 was well tolerated and has FDA Breakthrough designation for MDD treatment, enhancing its market potential.

Axsome Therapeutics announced positive results from the Phase 2 COMET-TRD trial for AXS-05 in patients with treatment-resistant depression (TRD). The trial demonstrated that after 6 weeks, 67% of patients showed a response in depressive symptoms, measured by the Montgomery-Åsberg Depression Rating Scale (MADRS). Furthermore, 64% reported significant improvements in functioning per the Sheehan Disability Scale. AXS-05 was well-tolerated, with a safety profile consistent with past studies. The positive outcomes underscore AXS-05's potential as a novel treatment for TRD.

Axsome Therapeutics (NASDAQ: AXSM) reported positive results from the Phase 3 COMET trial of AXS-05 in major depressive disorder (MDD). After 12 months, 73% of patients showed a substantial improvement in depressive symptoms, with 55% showing improved functioning at 2 weeks. Long-term efficacy was sustained, with a favorable safety profile and no new safety signals detected. The company plans to submit a New Drug Application (NDA) for AXS-05 in January 2021. AXS-05, an NMDA receptor antagonist, demonstrated overall efficacy even in patients unresponsive to prior antidepressants.

Axsome Therapeutics (NASDAQ: AXSM) announced significant advancements in its clinical pipeline, with NDA submissions for AXS-05 in major depressive disorder (MDD) expected in January 2021 and for AXS-07 in migraine slated for 1Q 2021. Positive results were reported from several Phase 2 trials, with expected efficacy data for AXS-05 by 4Q 2020. The company secured a $225 million term loan, enhancing its financial position with nearly $400 million in available resources. The launch readiness of its Digital-Centric Commercialization platform aims to optimize market engagement for upcoming product launches.

Axsome Therapeutics has announced a strategic partnership with Veeva Systems to enhance its Digital-Centric Commercialization (DCC™) platform. This collaboration aims to support the potential launch of two CNS investigational drugs, AXS-05 for depression and AXS-07 for migraine, expected next year. Veeva will provide its cloud solutions, including Veeva CRM and MyVeeva for Doctors, to improve customer engagement. The partnership will also grant Axsome early access to new digital technologies and industry insights, positioning it to optimize physician-patient interactions and promotional efforts.

Axsome Therapeutics (NASDAQ: AXSM) announced data presentation from the ADVANCE-1 trial of AXS-05 for Alzheimer's disease agitation at the 13th Clinical Trials on Alzheimer’s Disease conference, scheduled for November 4-7, 2020. AXS-05, an investigational NMDA receptor antagonist, aims to address critical needs in CNS disorders. The oral presentation will detail the efficacy and safety of AXS-05, with a follow-up Q&A. AXS-05 holds multiple regulatory designations, emphasizing its potential to improve treatment outcomes for Alzheimer's patients.

Axsome Therapeutics (NASDAQ: AXSM) will release its third quarter 2020 financial results on November 5, 2020, prior to the U.S. market opening. The management team will host a conference call at 8:00 AM Eastern Time to discuss these results and provide a business update. Axsome develops therapies for central nervous system disorders and has five clinical-stage candidates, including AXS-05 for major depressive disorder and AXS-07 for migraine. The company emphasizes the potential for accelerated approval of its products, pending successful clinical trials.

Axsome Therapeutics, Inc. (NASDAQ: AXSM) has secured a $225 million term loan facility with Hercules Capital, strengthening its balance sheet ahead of the commercial launches of AXS-05 for major depressive disorder and AXS-07 for migraine. This non-dilutive capital extends Axsome's cash runway into at least 2024. The loan includes an initial $60 million drawdown, with further funds contingent on product approvals and sales criteria. Interest starts at 9.15%, with maturity in October 2025. This financing will support Axsome's ongoing CNS product development.