Axsome plans Phase III trial for narcolepsy therapy following positive Phase II data

Axsome is readying for a Phase III trial next year of narcolepsy therapy AXS-12 after the candidate met the primary endpoint of a Phase II trial, sending the company's stock up $5.99 (15%) to $45.61 Tuesday.

Axsome Therapeutics Inc. (NASDAQ:AXSM) said that in the Phase II CONCERT trial, AXS-12 (reboxetine) reduced cataplexy attacks by 48.8% from baseline vs. 8.6% for placebo (p=0.002). The trial treated 21 narcolepsy patients with twice-daily oral AXS-12 for two weeks. ...