Axsome Therapeutics (AXSM) IPO Opens, Trades Flat

Today's IPO for Axsome Therapeutics, Inc. (NASDAQ: AXSM) opened for trading earlier at $9 after pricing 5,666,667 shares of its common stock at a public offering price of $9.00 per share.

Axsome Therapeutics has granted the underwriters a 30-day option to purchase up to an aggregate of 850,000 additional shares of common stock at the initial public offering price to cover any over-allotments.

The sole book-running manager for the offering is Ladenburg Thalmann & Co. Inc. Cantor Fitzgerald & Co. is acting as lead manager and Brean Capital, LLC is acting as co-manager.

Axsome Therapeutics, Inc. is a clinical stage biopharmaceutical company developing novel therapies for the management of pain and other central nervous system (CNS) disorders. By focusing on this therapeutic area, Axsome is addressing significant and growing markets where current treatment options are limited or inadequate. Axsome’s product candidate portfolio includes two late-stage candidates, AXS-02 and AXS-05, which are being developed for multiple indications. Axsome Therapeutics aims to become a fully integrated biopharmaceutical company that develops and commercializes differentiated therapies that expand the treatment options available to caregivers and improve the lives of patients living with pain and other CNS disorders.

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