Axsome soars as narcolepsy drug meets goals
US biotech firm Axsome Therapeutics (Nasdaq: AXSM) yesterday announced that its AXS-12 (reboxetine) met the prespecified primary endpoint and significantly reduced the number of cataplexy attacks as compared to placebo in patients with narcolepsy in the CONCERT Phase II trial.
AXS-12 also significantly reduced excessive daytime sleepiness (EDS), and improved cognitive function, sleep quality and sleep-related symptoms, the company noted.
Investors excited about the latest addition to Axsome's late-stage pipeline pushed the stock 19.2% higher at the beginning of Tuesday's session, and the stock of the central nervous system (CNS) disorders specialist closed up 15.12% at $45.61.
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