Following Axsome Therapeutics, Inc.’s (NASDAQ: AXSM) appointment of Myrtle Potter to its board of directors, Aegis Capital reiterated its ‘Buy’ rating and price target of $20 on shares of the company’s stock. Calling the appointment “incrementally positive,” the analyst voiced confidence that the appointment of the former Genentech executive, specifically her experience in the commercialization process, adds value to Axsome’s board.
For more information, visit www.axsome.com
About Axsome Therapeutics, Inc.
Axsome Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders for which there are limited treatment options. Axsome’s product candidate portfolio includes two late-stage candidates, AXS-05 and AXS-02. AXS-05 is currently in a phase 3 trial in treatment resistant depression (TRD), and a phase 2/3 trial in agitation in patients with Alzheimer’s disease (AD) is planned. AXS-02 is currently in phase 3 trials in complex regional pain syndrome (CRPS) and knee osteoarthritis (OA) associated with bone marrow lesions (BMLs) with an additional phase 3 trial planned in chronic low back pain (CLBP) associated with Modic changes (MCs). AXS-05 and AXS-02 are investigational drug products not approved by the FDA.
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