Why Axsome Therapeutics Stock Cratered in August

Axsome Therapeutics (NASDAQ: AXSM), a clinical-stage biotech focused on the development of drugs for central nervous system disorders, had a seriously rough August. The biotech's shares slipped by an eye-popping 47.1% last month, according to data provided by S&P Global Market Intelligence.

Axsome's stock cratered last month for two interrelated reasons:

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Source Fool.com