It’s only in mid -February, but as in this writing biotechnical company AXSOME therapeutics (NASDAQ: AXSM) The increase is 55% to the present. Significant gain on the market on chairs during short periods are not so rare in the industry. For those who missed Axsome’s set this year, the question is whether the company can work in the long run. If this is the case, its shares may still be worth investing even after their climb.
Let’s find out if there is more forward for Axsome Therapeutics.
Let’s start with a development recently sent by Axsome’s stock rise by about 25% in one day. The company solved a patent lawsuit regarding Auverity, a cure for a major depressing disorder (MDD), with a generic drug manufacturer Teva pharmaceutical industry. Auveality was first approved in 2022; It is one of only three drugs AxSome has on the market. If Teva had launched a generic version of the auveality, it would have been a significant wind for Axsome and completely changed his prospects.
Fortunately, the Teva settlement with AxSome now means that he will not be able to launch the generic version of AUVENTITY first to the earliest 2038. AxSome will approve of the TEVA license to launch Generic auverity, but it’s still 13 or more. This is great news for Axsome Therapeutics and its shareholders.
In addition to the alence, the AxSome line contains treatment of narcolepsy, sunosy and new approved migraine therapy, Symbravo. Sunni and auveality drive strong revenue growth. Although AxSome has yet to publish its financial results in the fourth quarter and the entire year of 2024, it has a peek at the investors. Is expecting a $ 385.2 million products for 2024, compared to total revenue of $ 270.6 million last year.
Thus, Axsome’s upper line 2024 should grow by at least 42% compared to 2023. Adding Symbravo will affect the financial results this year. Furthermore, the company should achieve clinical and regulatory progress.
He plans to surrender to the Augustics to the American Food and Drug Administration (FDA) as a potential treatment for the agitation of Alzheimer’s disease (AD) in the second half of the year. In December, AxSome published data from two clinical tests of phase 3 from his leading medicine in this indication; In the first study, Auveality hit her main end point, but missed her in the second.
However, given that there is a great dissatisfied need in ADA, very little treatments for the disease have been approved in the last two decades-there is always a great chance that the FDA will give preference.
