Axsome Therapeutics, Inc.

Rosen Law Firm announces the reopening of the lead plaintiff appointment process in a class action lawsuit against Axsome Therapeutics, Inc. (“Axsome” or the “Company”) (NASDAQ: AXSM) and certain of its officers.   The Class Action, filed in the United States District Court for the Southern District of New York, and docketed under 22-cv-03925 (LGS), is proposed to be brought on behalf of a Class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Axsome common stock between May 10, 2021 and April 22, 2022, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. Excluded from the Class will be any persons who sold all of the shares acquired during the Class Period prior to April 25, 2022.

If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2023.

If you purchased Axsome common stock between May 10, 2021 and April 22, 2022 and would like to join the action, please click “Join This Class Action.”

Class Period:May 10, 2021 through April 22, 2022
If you purchased Axsome common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:

  • Axsome’s chemistry, manufacturing, and control (“CMC”) practices were deficient with respect to AXS-07 and its manufacturing process;
  • Axsome was unable to resolve these CMC problems or complete stability studies on additional batches of AXS-07 before it belatedly (after repeated delays in the initially represented timeline) submitted its AXS-07 NDA in June 2021;
  • accordingly, the FDA was unlikely to approve the AXS-07 NDA;
  • as a result of all the foregoing, Axsome had overstated AXS-07’s regulatory and commercial prospects; and
  • as a result, the Company’s public statements were materially false and misleading at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Axsome Therapeutics, Inc.
Stock Symbol: AXSM
Class Period: May 10, 2021 through April 22, 2022
Court: United States District Court for the Southern District of New York

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Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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