Categories Health Care, Research Summary

Axsome Therapeutics almost doubles on positive outcome from Alzheimer’s disease trial

Clinical stage biopharmaceutical company Axsome Therapeutics (AXSM) announces positive outcome for ADVANCE-1 trial associated with the treatment of Alzheimer’s disease. Shares of Axsome Therapeutics jumped about 180% in the pre-market trading on Monday.

An independent data monitoring committee (IDMC) analyzed and recommended the continuation of AXS-05, an investigational drug to treat central nervous system disorders, in the ADVANCE-1 trial. Axsome’s AXS-05 drug has got FDA’s Fast Track designation for the treatment of Alzheimer’s disease agitation.

“The positive recommendation by the IDMC to continue the ADVANCE-1 trial is an important milestone for the Alzheimer’s disease agitation program and we look forward to the continued development of AXS-05 for this indication,” said CEO Herriot Tabuteau.

In the last week of December, Axsome provided a clinical update for the year 2018. The company anticipates to start Phase 3 trial of its migraine treatment drug AXS-07 in the current quarter. The New York-based firm also anticipates initiating Phase 2 trial of AXS-12 study for the treatment of narcolepsy in January 2019, with topline results in the first half of 2019.

According to Alzheimer’s Association, Alzheimer’s disease is the sixth leading cause of death in the US and one in three seniors dies with Alzheimer’s or another dementia. It is estimated that 5.7 million Americans are living with Alzheimer’s and this figure is projected to increase to nearly 14 million by 2050.

Eli Lilly to collaborate with AC Immune for the treatment of Alzheimer’s disease

Axsome stock, which closed down 0.75% at $2.63 on Friday, achieved a new 52-week high in the morning trading session. The stock had dropped 28% in the last three months and 53% in the last 12 months.


Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Add Comment
Viewing Highlight