Axsome Therapeutics, Inc.
AXSM · Healthcare
$202.83
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PVG Sends Open Letter to Anavex Stockholders Detailing the Need for Change at the Company
PVG Asset Management, a significant shareholder of Anavex Life Sciences, has launched a proxy contest calling for complete board reconstitution, citing operational failures, governance issues, and failure to deliver shareholder value. PVG has nominated six biotechnology-experienced directors to replace the current board, criticizing the company's underperformance relative to peers, delayed clinical trials for its lead drug blarcamesine, significant executive departures, and recent stock decline amid broader biotech sector gains.
Axsome Begins Phase III Study on AXS-05 for Smoking Cessation
Axsome Therapeutics has dosed the first patient in the phase III SUMMIT study evaluating AXS-05 for smoking cessation. The randomized, double-blind, placebo-controlled trial will compare AXS-05 against bupropion and placebo over 12 weeks, with smoking abstinence as the primary endpoint. Axsome's lead drug Auvelity continues to drive strong revenue growth, generating $333 million in H1 2026 (up 54.2% YoY), while the company's diversified portfolio includes Sunosi and newly launched Symbravo.