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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