Fly News Breaks for December 24, 2019
Dec 24, 2019 | 07:14 EDT
H.C. Wainwright analyst Raghuram Selvaraju says Axsome Therapeutics, following last week's equity financing, should be able to fund its operations for at least the next three years and support the launches of AXS-05 and AXS-07, which may both be filed for approval in late 2020. There is no longer a financing overhang and the "healthy demand" for the company's shares, as evidenced by the full exercise of the over-allotment, underscores the degree to which Axsome can access capital from the public equities markets, Selvaraju tells investors in a research note. He reiterates a Buy rating on the shares with a $170 price target.
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