BUZZ-Axsome declines after mixed data from Alzheimer's-related drug
Shares of Axsome Therapeutics AXSM.O fall 8.2% to $79.60 premarket
AXSM says its experimental drug failed to meet the main goal in one of two late-stage studies in patients with Alzheimer's disease related agitation
The drug, AXS-05, did not show statistically significant improvement in delaying relapse time of agitation in patients compared to placebo
However, AXSM said the results "numerically favoured" the drug over placebo across main and secondary goals
In the other study, AXS-05 helped delay relapse time in patients compared to placebo
Agitation is a symptom that causes emotional distress as well as verbal and physical aggressiveness
Co plans to submit its marketing application to U.S. FDA in H2 2025
As of last close, stock has risen ~9% since December 2023
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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