Why Axsome Therapeutics Stock Is Falling Today

Axsome Therapeutics Inc AXSM shares are trading higher Monday after the company reported it was informed by the U.S. Food and Drug Administration (FDA) that chemistry, manufacturing and control issues identified during the FDA's review of its New Drug Application for its AXS-07 product candidate are unresolved.

Axsome Therapeutics is a biopharmaceutical company developing novel therapies for central nervous system conditions that have limited treatment options. 

The company announced Monday that it will report its first-quarter financial results before the market opens on May 2.

See Also: 26 Stocks Moving in Monday's Pre-Market Session

AXSM 52-Week Range: $19.38 - $74.10

According to data from Benzinga Pro, the stock was down 20.7% at $31.02 at time of publication.

Photo: mohamed_hassan from Pixabay.

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