Axsome Therapeutics Shakes Off Post-Earnings Tumble, With Data Barrage on the Way
Investors initially reacted harshly to news earlier this month that Axsome Therapeutics (NASDAQ: AXSM) had to delay the data readout for a late-stage study involving its lead drug candidate. It apparently took longer than expected to enroll a sufficient number of patients into a long-term safety database, which pushed the study's expected completion date from the end of 2019 to early 2020. But following their initial shock, investors quickly saw the opportunity in the plunging pharma stock, which ushered in a hasty recovery in the share price.
Even after taking the delay into account, Axsome Therapeutics expects to report data from two phase 3 trials and one phase 2 trial before the end of the year. Results from two additional phase 3 studies and one phase 2/3 trial are expected in the first half of next year.
In total, the company should have results from three unique pipeline assets and six studies within the next seven months. Here's what investors need to know about the updated development timeline.
Source Fool.com
