Axsome Therapeutics Falls After Pricing 3 Mln Share Offering

Shares of Axsome Therapeutics, Inc. (AXSM) are falling more than 10% Wednesday morning after the company priced its public offering of 3 million shares at $75 per share.

The company plans to use the proceeds of nearly $225 million from the offering to fund its clinical studies, to expand commercialization efforts, and for other general corporate purposes.

The offering is expected to close by June 30.

AXSM, currently at $75, has traded in the range of $35.16 – $91.29 in the last 1 year.

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