Axsome Therapeutics Announces Closing of $200 Million Public Offering of Common Stock, Including Full Exercise of Underwriter...
December 23 2019 - 4:19PM
Axsome Therapeutics, Inc. (NASDAQ: AXSM) (“Axsome” or the
“Company”), a clinical-stage biopharmaceutical company developing
novel therapies for the management of central nervous system (CNS)
disorders, today announced the closing of its previously announced
underwritten public offering of 2,300,000 shares of its common
stock, including the full exercise of the underwriters’ option to
purchase additional shares, at the public offering price of $87.00
per share. The aggregate gross proceeds to Axsome, before deducting
underwriting discounts and commissions and other estimated offering
expenses, were $200.1 million.
SVB Leerink acted as lead bookrunning manager
for the offering. Morgan Stanley acted as joint bookrunning manager
for the offering. Cantor Fitzgerald & Co., Ladenburg Thalmann
& Co. Inc., SunTrust Robinson Humphrey, Inc. and William Blair
& Company, L.L.C. acted as co-lead managers for the offering.
BTIG, LLC and H.C. Wainwright & Co. acted as co-managers for
the offering.
A shelf registration statement on Form S-3
relating to the public offering of the shares of common stock
described above was filed with the Securities and Exchange
Commission (the “SEC”) and became effective on December 5, 2019. A
prospectus supplement relating to the offering has been filed with
the SEC. Copies of the prospectus supplement and accompanying
prospectus may be obtained from the offices of SVB
Leerink, Attention: Syndicate Department, One Federal Street,
37th Floor Boston, MA, 02110, by telephone at
1-800-808-7525, ext. 6132, or by email at syndicate@svbleerink.com
and Morgan Stanley & Co. LLC, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York, NY 10014.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
other jurisdiction in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Axsome Therapeutics,
Inc. Axsome Therapeutics, Inc. is a clinical-stage
biopharmaceutical company developing novel therapies for the
management of central nervous system (CNS) disorders for which
there are limited treatment options. Axsome’s core CNS product
candidate portfolio includes four clinical-stage candidates,
AXS-05, AXS-07, AXS-09, and AXS-12. AXS-05 is currently in a Phase
3 trial in treatment resistant depression (TRD), a Phase 2/3 trial
in agitation associated with Alzheimer’s disease (AD), and is being
developed for major depressive disorder (MDD). AXS-05 is also being
developed for smoking cessation treatment. AXS-07 is currently in
two Phase 3 trials for the acute treatment of migraine. AXS-12 is
being developed for the treatment of narcolepsy. AXS-05, AXS-07,
AXS-09, and AXS-12 are investigational drug products not approved
by the FDA.
Forward Looking Statements
Certain matters discussed in this press release are
“forward-looking statements”. We may, in some cases, use terms such
as “predicts,” “believes,” “potential,” “continue,” “estimates,”
“anticipates,” “expects,” “plans,” “intends,” “may,” “could,”
“might,” “will,” “should” or other words that convey uncertainty of
future events or outcomes to identify these forward-looking
statements. In particular, the Company’s statements regarding
trends and potential future results are examples of such
forward-looking statements. The forward-looking statements include
risks and uncertainties, including, but not limited to, the
anticipated final terms, timing and completion of the proposed
offering; the success, timing and cost of our ongoing clinical
trials and anticipated clinical trials for our current product
candidates, including statements regarding the timing of initiation
and completion of the trials; the timing of and our ability to
obtain and maintain U.S. Food and Drug Administration or other
regulatory authority approval of, or other action with respect to,
our product candidates; the Company’s ability to successfully
defend its intellectual property or obtain the necessary licenses
at a cost acceptable to the Company, if at all; the successful
implementation of the Company’s research and development programs
and collaborations; the success of the Company’s license
agreements; the acceptance by the market of the Company’s product
candidates, if approved; and other factors, including general
economic conditions and regulatory developments, not within the
Company’s control. The factors discussed herein could cause actual
results and developments to be materially different from those
expressed in or implied by such statements. The forward-looking
statements are made only as of the date of this press release and
the Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstance.
Axsome Contact:
Mark Jacobson Senior Vice President, Operations
Axsome Therapeutics, Inc. 200 Broadway, 3rd Floor New York, NY
10038 Tel: 212-332-3243 Email: mjacobson@axsome.com
www.axsome.com
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