NEW YORK, March 29, 2017 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM), a clinical-stage
biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, today announced
that the underwriter of the Company’s previously announced public offering has exercised in full its option to purchase an
additional 561,497 shares. With the exercise of the underwriter’s option, total gross proceeds from the offering of an aggregate
4,304,813 shares at a price to the public of $3.74 per share are expected to be approximately $16.1 million, before deducting
underwriting discounts and commissions and estimated offering expenses payable by Axsome. All shares in the offering were sold by
Axsome.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT:LTS), acted
as the sole book-running manager for the offering.
The closing of the sale of 3,743,316 shares was completed on March 24, 2017 and the closing of the option
exercise is expected to occur on March 30, 2017, subject to customary closing conditions.
The shares of common stock described above are being offered by Axsome pursuant to its shelf registration
statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (the SEC). A final
prospectus supplement relating to the shares of common stock sold in this offering was filed with the SEC on March 21, 2017. Copies
of the final prospectus supplement and the accompanying prospectus may be obtained from Ladenburg Thalmann & Co. Inc., 570
Lexington Avenue, 11th Floor, New York, New York 10022, or by email at prospectus@ladenburg.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Axsome Therapeutics, Inc.
Axsome Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel therapies for the management of central
nervous system (CNS) disorders for which there are limited treatment options. Axsome’s product candidate portfolio includes two
late-stage candidates, AXS-05 and AXS-02. AXS-05 is currently in a Phase 3 trial in treatment resistant depression (TRD), and a
Phase 2/3 trial in agitation in patients with Alzheimer’s disease (AD) is planned. AXS-02 is currently in Phase 3 trials in complex
regional pain syndrome (CRPS) and knee osteoarthritis (OA) associated with bone marrow lesions (BMLs) with an additional Phase 3
trial planned in chronic low back pain (CLBP) associated with Modic changes (MCs). AXS-05 and AXS-02 are investigational drug
products not approved by the FDA.
Forward Looking Statements
Certain matters discussed in this press release are “forward-looking statements”. We may, in some cases, use terms such as
“predicts,” “believes,” “potential,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,”
“might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking
statements. In particular, the Company’s statements regarding trends and potential future results are examples of such
forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the
completion, timing and proceeds of the public offering; the success, timing and cost of our ongoing clinical trials and anticipated
clinical trials for our current product candidates, including statements regarding the timing of initiation and completion of the
trials; the timing of and our ability to obtain and maintain U.S. Food and Drug Administration or other regulatory authority
approval of, or other action with respect to, our product candidates; the Company’s ability to successfully defend its intellectual
property or obtain the necessary licenses at a cost acceptable to the Company, if at all; the successful implementation of the
Company’s research and development programs and collaborations; the success of the Company’s license agreements; the acceptance by
the market of the Company’s product candidates, if approved; and other factors, including general economic conditions and
regulatory developments, not within the Company’s control. The factors discussed herein could cause actual results and developments
to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as
of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to
reflect subsequent events or circumstance.
Axsome Contact: Mark Jacobson Vice President, Operations Axsome Therapeutics, Inc. 25 Broadway, 9th Floor New York, NY 10004 Tel: 212-332-3243 Email: mjacobson@axsome.com www.axsome.com
