Axsome Therapeutics Stock Soars on Proposed FDA Labeling for Depression Drug

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Updated June 27, 2022 11:12 am ET / Original June 27, 2022 10:28 am ET

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Shares of Axsome Therapeutics were soaring Monday after the biopharmaceutical company announced some good news in an attempt to gain Food and Drug Administration approval of AXS-05, its drug for major depressive disorder.

In a filing with the Securities and Exchange Commission, Axsome (ticker: AXSM) said it had received proposed labeling from the FDA last Friday related to its new drug application for AXS-05.

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