AXSM - AXSOME ALERT: Bragar Eagel & Squire P.C. is Investigating Axsome Therapeutics Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, March 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Axsome Therapeutics, Inc. (NASDAQ:AXSM) on behalf of long-term stockholders following a class action complaint that was filed against Axsome on May 13, 2022 with a Class Period from December 30, 2019 to April 22, 2022. Our investigation concerns whether the board of directors of Axsome have breached their fiduciary duties to the company.
Axsome is a biopharmaceutical company that engages in the development of novel therapies for central nervous system disorders in the United States. The Company is developing, among other product candidates, AXS-07, a novel, oral, rapidly absorbed, multi-mechanistic, and investigational medicine for the acute treatment of migraine.
Axsome consistently touted AXS-07's regulatory and commercial prospects in anticipation of the Company's submission a New Drug Application ("NDA") to the U.S. Food and Drug Administration ("FDA") for AXS-07 for the acute treatment of migraine (the "AXS-07 NDA") based on the drug's positive results in two Phase 3 trials. However, unbeknownst to investors, the Company's preparation and eventual submission of the AXS-07 NDA was plagued with chemistry, manufacturing, and control ("CMC") issues.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or ...