Shares of biopharmaceutical company Axsome Therapeutics (NASDAQ:AXSM) are rising higher today after its product candidate AXS-05 achieved the primary endpoint as well as key secondary endpoints in a Phase 3 trial for the treatment of Alzheimer’s Disease Agitation.
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The drug statistically significantly delayed the duration of relapse and relapse of agitation in AD patients.
Further, while there are no approved treatments for the treatment of AD Agitation at present, AXS-05 has bagged the breakthrough therapy designation from the U.S. Food and Drug Administration for this indication.
Shares of the company have now gained about 54% over the past year.
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