Concerns about higher inflation and economic growth have weighed on investors' minds this year. But Axsome Therapeutics (NASDAQ: AXSM) has been defying the bear market. The biotech company's shares have climbed nearly 170% over the past three months.

The excitement stems from some pretty good news. Axsome won regulatory approval of its treatment for major depressive disorder (MDD). And the company has started generating revenue from a recently acquired sleep-disorder drug. All of this sounds promising. But after the company's recent gains, is it too late to get in on the story? Let's find out.

Axsome is a specialist in neuroscience. And the company's pipeline includes five candidates for various disorders -- from fibromyalgia to migraine. Most recently, the U.S. Food and Drug Administration (FDA) approved Auvelity for adults suffering from MDD.

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Source Fool.com