Axsome Therapeutics (AXSM) is a biopharmaceutical company with multiple Phase 3 trials nearing interim data readouts, a market cap of approximately $112 million, and cash anticipated to last until 2019. When I last wrote about AXSM in May, I discussed the three Phase 3 clinical trials which are nearing data readouts (Figure 1). Since that time, AXSM has made further progress initiating another clinical trial and reporting Phase 1 data. The recent earnings report also provides us with an opportunity to review the company’s financials.
Figure 1: AXSM company pipeline. Data from AXS-02 in Q3 and Q4 are interim data whereas data with AXS-05 in treatment resistant depression are top-line data from the completion of the study.
Source: August 2017 corporate presentation. Dates of data readouts added by Biotech Beast.
AXS-05 has potential in Alzheimer's disease agitation
On July 17, 2017, AXSM issued a press release stating that the first patient had been enrolled in the ADVANCE-1 study, a Phase 2/3 trial of AXS-05 in Alzheimer’s disease agitation.
