Axsome Therapeutics Stock Jumps 22% As The Co. Anticipates FDA Approval Of Its Depression Drug In Q2

Shares of Axsome Therapeutics, Inc. (AXSM) jumped over 22% on Tuesday morning after the company said it agreed to the Food and Drug Administration's requirements for approving its depression drug.

AXSM is currently trading at $40.20, up $7.50 or 22.94%, on the Nasdaq.

Axsome Therapeutics announced that it has received and agreed to Postmarketing Requirements/Commitments proposed by the FDA with respect to the New Drug Application for its AXS-05 product candidate for the treatment of major depressive disorder.

The company said it anticipates potential FDA action on the NDA in the second quarter of 2022.

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