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Fly News Breaks for December 30, 2019
Dec 30, 2019 | 12:10 EDT
William Blair analyst Myles Minter said he was less concerned by the ability of Axsome Therapeutics' AXS-07 to beat placebo and MOSEIC meloxicam in the Phase 3 MOMENTUM trial, but he sees it as "impressive" that the drug achieved superiority over rizatriptan on multiple endpoints in a "highly burdened population." Significantly more patients on AXS-07 were able to return to daily function by 24 hours than those on rizatriptan alone, which is "a clinically important milestone," said Minter. He keeps an Outperform rating on shares of Axsome, which are up $5.74, or 5.6%, to $107.72 in early afternoon trading.
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