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Fly News Breaks for December 17, 2019
Dec 17, 2019 | 07:35 EDT
BTIG analyst Robert Hazlett raised his price target on Axsome Therapeutics to $97 and kept his Buy rating after the company announced positive topline Phase 3 GEMINI data for AXS-05 in major depressive disorder, or MDD, relative to placebo. The analyst adds that based on the management's discussions with the FDA, Axsome intends to file for approval of AXS-05 in MDD as its ASCEND trial vs. Bupropion and its ongoing open-label safety study track toward completion in the back half of 2020. Hazlett concludes that the "consistent, rapid, durable, and significant anti-depressant effects of AXS-05" de-risk the program in MDD.
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