On Dec. 18, 2019, Axsome Therapeutics (NASDAQ:AXSM) a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, revealed that it intends to offer and sell shares of its common stock, subject to market and other conditions, in an underwritten public offering. In addition, Axsome intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering, on the same terms and conditions. All of the shares in the offering are to be sold by Axsome.
Axsome intends to use the proceeds from this offering to continue to fund the ongoing clinical development of its late stage product candidates and for other general corporate purposes, including funding existing and potential new clinical programs and product candidates. Additional indications may be explored with the use of proceeds.
About Axsome Therapeutics
Axsome Therapeutics is a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders for which there are limited treatment options. Axsome’s core CNS product candidate portfolio includes four clinical-stage candidates, AXS-05, AXS-07, AXS-09, and AXS-12. AXS-05 is currently in a Phase 3 trial in treatment resistant depression (TRD), a Phase 2/3 trial in agitation associated with Alzheimer’s disease (AD), and is being developed for major depressive disorder (MDD). AXS-05 is also being developed for smoking cessation treatment. AXS-07 is currently in two Phase 3 trials for the acute treatment of migraine. AXS-12 is being developed for the treatment of narcolepsy. AXS-05, AXS-07, AXS-09, and AXS-12 are investigational drug products not approved by the FDA.
On Wednesday Axsome Therapeutics (NASDAQ:AXSM) traded with change of 10.62% on volume of 1515 shares in the last session as compared to average volume of 1505064 shares. During last trade its minimum price was $80.61 and it gained highest price of $89.64. AXSM has total market capitalization of $3090971119. Its closing value stands at $89.57.