Why Axsome Therapeutics Stock Is Jumping Today
Shares of Axsome Therapeutics (NASDAQ: AXSM) were up by 7.5% as of 11:55 a.m. EDT Monday. The gain came after the company announced a delay in the Food and Drug Administration's review of its application for AXS-05 to be approved as a treatment for major depressive disorder.
The FDA had originally set a Prescription Drug User Fee Act (PDUFA) date of Aug. 22 to complete its review of the regulatory filing for AXS-05. However, Axsome said that the agency informed it on Aug. 20 that it wouldn't meet that target date.
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Source Fool.com