Axsome Therapeutics, Inc. 

A securities class action has been filed against Axsome Therapeutics, Inc. (AXSM) on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Axsome securities between December 30, 2019 through April 22, 2022.  This case has been filed in the USDC – S.D.N.Y.

On April 25, 2022, Axsome disclosed in a filing with the U.S. Securities and Exchange Commission that the U.S. Food and Drug Administration informed the Company on April 2, 2022 “that chemistry, manufacturing, and controls (‘CMC’) issues identified during the FDA’s review of the Company’s New Drug Application (‘NDA’) for its AXS-07 product candidate for the acute treatment of migraine are unresolved” and that “[b]ased upon the time remaining in the NDA review cycle, the Company expects to receive a Complete Response Letter with respect to this NDA on or about the Prescription Drug User Fee Act target action date of April 30, 2022.”

On this news, Axsome’s stock price fell $8.60 per share, or 21.99% percent, to close at $30.50 per share on April 25, 2022.