Axsome Therapeutics Gains After Initiation Of Paradigm Phase 3 Trial Of Solriamfetol

(RTTNews) - Shares of Axsome Therapeutics, Inc. (AXSM) are gaining over 5 percent on Tuesday morning after the announcement of initiation of paradigm phase 3 trial of Solriamfetol for the treatment of major depressive disorder or MDD.

MDD is a debilitating, chronic, biologically based disorder, which impairs social, occupational, educational, or other important functioning. The paradigm trial will study the efficacy and safety of Solriamfetol in around 300 patients for 6 weeks with primary endpoint being the change in the Montgomery Asberg Depression Rating Scale.

Following the announcement, Axsome's stock is climbing 5.38 percent, to $76.44 over the previous close of $72.54 on the Nasdaq.