Axsome Therapeutics (NASDAQ: AXSM) shares surged as the company announced FDA priority review for its AXS-05 drug for Alzheimer’s disease agitation. Sales of their depression drug grew by 69% in Q3. Investors reacted positively, with shares rising over 20%. The FDA set a target action date of April 30, 2026.

AXS-05, previously granted FDA Breakthrough Therapy designation, is showing promise. Another drug in the pipeline, AXS-12 for narcolepsy, also received positive news. The FDA indicated acceptance of Axsome’s regulatory data package for AXS-12’s NDA submission next month. Investors are optimistic about these developments leading to stock growth.

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Read more at Yahoo Finance: Why Axsome Therapeutics Stock Rocketed Higher to End 2025