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Axsome's depression drug enters competitive market after U.S. approval
Amruta KhandekarReuters
19 Aug 2022
Excerpt:
Aug 19 (Reuters) - Axsome Therapeutics Inc (AXSM.O) on Friday gained U.S. approval for its treatment for depression, giving more than 20 million Americans affected by the disorder a new option in a market crowded by older drugs.
Shares of the U.S.-based company, which expects to launch the drug in the fourth quarter, surged 25% in early trade.
The drug, Auvelity, is a new class of treatment that reduces the symptoms of depression as early as one week, giving it a potential edge over older antidepressants, which can take up to six weeks to show effect.