Why Axsome Therapeutics Stock Rocketed Higher This Week
Shares of the developmental-stage biotech Axsome Therapeutics (NASDAQ: AXSM) vaulted higher by a healthy 25% through Thursday's close this week, according to data from S&P Global Market Intelligence. The biotech's shares broke their recent downward trend this week for two key reasons:
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Axsome's shares lost a significant chunk of their value not long ago because the FDA said that it had identified deficiencies in AXS-05's regulatory application. That's understandable given that this kind of regulatory news is generally followed by a Complete Response Letter (a rejection).
Source Fool.com
