Full Press Release Details
Announces Proposed Public Offering of Common Stock
NEW YORK, NY, December
18, 2019 -- 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
that it intends to offer and sell shares of its common stock, subject to market and other conditions, in an underwritten
public offering. In addition, Axsome intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the
shares of its common stock offered in the public offering, on the same terms and conditions. All of the shares in the offering
are to be sold by Axsome.
Axsome intends to use
the proceeds from this offering to continue to fund the ongoing clinical development of its late stage product candidates and for
other general corporate purposes, including funding existing and potential new clinical programs and product candidates. Additional
indications may be explored with the use of proceeds.
SVB Leerink is acting
as sole bookrunning manager for the offering.
The shares of common stock
described above are being offered by Axsome pursuant to its shelf registration statement on Form S-3ASR previously filed and declared
effective by the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement
and the accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website
at www.sec.gov. The offering may be made only by means of a prospectus supplement and accompanying prospectus, copies of which
may be obtained by contacting SVB Leerink LLC, 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.
This press release shall
not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
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.
Vice President, Operations
Axsome Therapeutics, Inc.
200 Broadway, 3rd Floor
Email: mjacobson@axsome.com