Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Adam Eckert

Why Axsome Therapeutics Stock Is Trading Higher

Axsome Therapeutics Inc (NASDAQ:AXSM) is trading higher Monday morning after the company announced it will acquire Sunosi from Jazz Therapeutics PLC (NASDAQ:JAZZ).

Jazz will receive a total upfront payment of $53 million from Axsome and a single-digit royalty on the company’s U.S. net sales of Sunosi.

The transaction is expected to accelerate Axsome’s transition to becoming a global commercial entity and fuel the company's growth as a premier biopharmaceutical company focused on delivering potentially life-changing medicines to people living with serious CNS conditions.

Sunosi is a dual-acting dopamine and norepinephrine reuptake inhibitor indicated to improve wakefulness in adult patients with excessive daytime sleepiness due to narcolepsy or obstructive sleep apnea.

AXSM 52-Week Range: $19.38 - $74.10

The stock was up 11.8% at $39.54 at time of publication.

Photo: fernandozhiminaicela from Pixabay.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.