Axsome Therapeutics has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) regarding its initial public offering (IPO). The company expects to price 4.25 million shares in the range of $11 to $13, with an overallotment option for an additional 637,500 shares. At the maximum price, the entire offering is valued up to $63.54 million. The company intends to list on the Nasdaq Capital Market under the symbol AXSM.
The underwriters for the offering are Ladenburg Thalmann, Cantor Fitzgerald and Brean Capital.
This clinical stage biopharmaceutical company develops novel therapies for the management of pain and other central nervous system (CNS) disorders. By focusing on this therapeutic area, Axsome is addressing significant and growing markets where current treatment options are limited or inadequate.
The product candidate portfolio includes two late-stage candidates, AXS-02 and AXS-05, which are being developed for multiple indications. Axsome recently initiated a Phase 3 trial with AXS-02 in complex regional pain syndrome and plan to initiate a Phase 3 trial with AXS-05 in treatment resistant depression in or before the first quarter of 2016.
The aim is to become a fully integrated biopharmaceutical company that develops and commercializes differentiated therapies that expand the treatment options available to caregivers and improve the lives of patients living with pain and other CNS disorders.
The first product candidate, AXS-02, is a potentially first-in-class, oral, targeted, non-opioid therapeutic for chronic pain. AXS-02 is a potent inhibitor of osteoclasts, which are bone remodeling cells that break down bone tissue. Axsome is initially developing AXS-02 for the treatment of pain in the following three conditions: complex regional pain syndrome, knee osteoarthritis associated with bone marrow lesions, and chronic low back pain associated with Modic changes.
ALSO READ: 4 Key FDA Decisions Expected in November and December
As for the second product candidate, AXS-05 is an innovative fixed-dose combination of dextromethorphan and bupropion. The company is developing AXS-05 initially for the treatment of the following two conditions: treatment resistant depression and agitation in patients with Alzheimer’s.
The company intends to use the proceeds to fund its clinical trials, and for further development of other product candidates, working capital, and general corporate purposes.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
