Axsome Therapeutics, Inc.
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Axsome disclosed in a filing with the U.S. Securities and Exchange Commission on July 14, 2021 “that it has been notified by the U.S. Food and Drug Administration (the ‘FDA’) that the FDA is rescinding the Company’s Breakthrough Therapy Designation for its AXS-12 product candidate for the treatment of cataplexy in narcolepsy, due to the FDA approving an additional drug product for the treatment of cataplexy in narcolepsy subsequent to granting AXS-12 Breakthrough Therapy Designation.”
On July 14, 2021, Axsome’s stock price fell $6.60 per share, or 10.41%, on this news, to close at $56.82 per share.