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Benzinga
Benzinga
Business
Wayne Duggan

Axsome Therapeutics Rallies 40% On FDA Product Label Proposal, But Analyst Remains Skeptical

Axsome FDA Nasdaq Depression

Axsome Therapeutics Inc (NASDAQ:AXSM) shares rallied 40% on Monday morning after the company received some positive news from the U.S. Food and Drug Administration regarding its AXS-05 novel treatment for MDD (depression).

What Happened? Axsome filed an 8K on Monday morning reporting the FDA has proposed a product label for ASX-05. While the market's initial reaction to the news was extremely positive, Bank of America analyst Jason Gerberry remains skeptical about ASX-05's potential commercial success.

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