NEW YORK, Jan. 07, 2019 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ: AXSM), a clinical-stage
biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, announced that
today it raised approximately $23.3 million through the sale of 2,881,066 shares under its existing at-the-market (ATM) facility
with Leerink Partners LLC.
Axsome intends to use the proceeds from this offering to continue to fund the ongoing clinical development of
its late stage product candidates and for other general corporate purposes, including funding existing and potential new clinical
programs and product candidates.
Sales of the shares of common stock in the ATM offering are made pursuant to a prospectus supplement to Axsome’s
previously filed and currently effective registration statement on Form S-3 (File No. 333-214859). This press release shall not
constitute an offer to sell, or the solicitation of an offer to buy the securities discussed herein, nor shall there be any sale of
these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or jurisdiction.
Other than this announcement, Axsome does not intend to provide regular updates on ATM financing activity
outside of standard quarterly reporting requirements.
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 core CNS product
candidate portfolio includes four clinical-stage candidates, AXS-05, AXS-07, AXS-09, and AXS-12. AXS-05 is currently in a Phase 3
trial in treatment resistant depression (TRD), a Phase 2/3 trial in agitation associated with Alzheimer’s disease (AD), a Phase 2
trial in Major Depressive Disorder (MDD), and a Phase 2 trial in smoking cessation. AXS-07 is being developed for the acute
treatment of migraine. AXS-12 is being developed for the treatment of the symptoms of narcolepsy. The Axsome Pain and Primary Care
business unit (Axsome PPC) houses Axsome’s pain and primary care assets, including AXS-02 and AXS-06, and intellectual property
which covers these and related product candidates and molecules being developed by Axsome and others. AXS-02 is being developed for
osteoporosis, the pain of knee osteoarthritis, and chronic low back pain. AXS-06 is being developed for osteoarthritis and
rheumatoid arthritis. AXS-02, AXS-05, AXS-06, AXS-07, AXS-09, and AXS-12 are investigational drug products not approved by the FDA.
For more information, please visit the Company’s website at axsome.com. The Company may occasionally disseminate material,
nonpublic information on the company website.
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
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, futility analyses and receipt of interim
results, which are not necessarily indicative of the final results of our ongoing clinical trials; our ability to fund additional
clinical trials to continue the advancement of our product candidates; the timing of and our ability to obtain and maintain U.S.
Food and Drug Administration (“FDA”) or other regulatory authority approval of, or other action with respect to, our product
candidates (including, but not limited to, FDA’s agreement with the Company’s plan to discontinue the bupropion treatment arm of
the ADVANCE-1 study in accordance with the independent data monitoring committee’s recommendations); the potential for the ASCEND
clinical trial to provide a basis for approval of AXS-05 for the treatment of major depressive disorder and accelerate its
development timeline and commercial path to patients; 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
Senior 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
