Marketdash

Big Movers: Axsome Therapeutics Surges 16% on FDA News as Markets Dip

MarketDash Editorial Team
4 hours ago
While major indexes declined Wednesday, several stocks found reasons to rally. Axsome Therapeutics led gains with a 16% jump after positive FDA feedback, while Vanda Pharmaceuticals soared on drug approval news.

It wasn't a pretty day for the overall market. The Dow Jones index dropped more than 100 points on Wednesday, and stocks broadly traded lower. But while the indexes struggled, a handful of companies found plenty of reasons to rally.

Leading the charge was Axsome Therapeutics, Inc. (AXSM), which posted impressive gains after delivering a double dose of positive FDA news. The company announced it plans to file a new drug application in January for AXS-12 after receiving feedback from the FDA. Even better, the FDA granted Priority Review to AXS-05 for Alzheimer's Agitation, potentially accelerating its path to market.

Investors responded enthusiastically, pushing Axsome Therapeutics shares up 16.1% to $172.90 on Wednesday.

But Axsome wasn't alone in defying the downward market trend. Here are the other notable gainers from Wednesday's session:

Big Movers: Axsome Therapeutics Surges 16% on FDA News as Markets Dip

MarketDash Editorial Team
4 hours ago
While major indexes declined Wednesday, several stocks found reasons to rally. Axsome Therapeutics led gains with a 16% jump after positive FDA feedback, while Vanda Pharmaceuticals soared on drug approval news.

It wasn't a pretty day for the overall market. The Dow Jones index dropped more than 100 points on Wednesday, and stocks broadly traded lower. But while the indexes struggled, a handful of companies found plenty of reasons to rally.

Leading the charge was Axsome Therapeutics, Inc. (AXSM), which posted impressive gains after delivering a double dose of positive FDA news. The company announced it plans to file a new drug application in January for AXS-12 after receiving feedback from the FDA. Even better, the FDA granted Priority Review to AXS-05 for Alzheimer's Agitation, potentially accelerating its path to market.

Investors responded enthusiastically, pushing Axsome Therapeutics shares up 16.1% to $172.90 on Wednesday.

But Axsome wasn't alone in defying the downward market trend. Here are the other notable gainers from Wednesday's session: