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Axsome Therapeutics raises $23.3M from stock offering to fund drug programs

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Axsome Therapeutics raises $23.3M from stock offering to fund drug programs

Axsome Therapeutics Inc. raised about $23.3 million from a stock offering carried out with Leerink Partners LLC.

The New York-based biopharmaceutical company sold 2,881,066 shares in the offering.

Axsome intends to use the proceeds to fund the ongoing clinical development of its late-stage product candidates and for other general corporate purposes.

Just recently, the company, which develops therapies for managing central nervous system disorders, reported positive data from a mid-stage study, which showed that its medicine AXS-05 helped reduce depression symptoms in patients.