Axsome data ‘mixed’ but sufficient for approval, says H.C. Wainwright

H.C. Wainwright says Axsome Therapeutics (AXSM)’ AXS-05 pivotal Alzheimer’s-associated agitation program yielded “mixed data,” although these may yet be sufficient for approval. While the data were mixed, “convincing evidence” of AXS-05’s efficacy in Alzheimer’s-associated agitation has been generated and the total data package should be sufficient to warrant regulatory approval, the analyst tells investors in a research note. The firm believes there remains a need for a safe and effective therapy to address chronic agitation in Alzheimer’s patients. The “benign” safety profile of AXS-05 in such elderly and fragile patients “looks promising,” according to H.C. Wainwright. It reiterates a Buy rating on Axsome shares with a $180 price target