Axsome Therapeutics Announces Proposed Public Offering of Common Stock
March 20, 2017 - 4:06pm
NEW YORK, March 20, 2017 (GLOBE NEWSWIRE) -- Axsome Therapeutics, Inc. (NASDAQ:AXSM), 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 in an underwritten public offering. Axsome intends to grant the underwriter a 30-day option to purchase up to an additional 15\% of the shares of its common stock offered in the public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Ladenburg Thalmann is acting as sole book-running manager for the offering.
Axsome intends to use the net proceeds from the offering to fund its ongoing clinical programs, including its clinical trials with AXS-05 and AXS-02, Axsome's two late-stage product candidates, as well as for working capital and other general corporate purposes.
The shares of common stock described above are being offered by Axsome pursuant to its shelf registration statement on Form S-3 previously filed and declared effective by the Securities and Exchange Commission (the SEC). A preliminary prospectus supplement relating to the offering will be filed with the SEC. Copies of the preliminary ...Full story available on Benzinga.com
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