Axsome Therapeutics, Inc. (AXSM) Officers and Directors Face Shareholder Investigation for Alleged Securities Law Violations

Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) relating to securities law violations and unlawful business practices.

Axsome Therapeutics is a biopharmaceutical manufacturer that develops therapies for central nervous system disorders. Axsome is currently named in a securities class action lawsuit filed in the U.S. District Court for the Southern District of New York, in which the plaintiffs allege that (a) Axsome’s chemistry, manufacturing, and controls (CMC) processes with their AXS-07 manufacturing were deficient; (b) because of the deficiencies, Axsome was unable to file its AXS-07 New Drug Application (“NDA”) in its originally published timeline; (c) the foregoing CMC issues remained in existence at the time the U.S. Food and Drug Administration (“FDA”) reviewed the AXS-07 NDA; (c) the FDA was therefore never likely to approve the AXS-07 NDA; (d) as a result, Axsome has overstated AXS-07’s regulatory and commercial capabilities; and (e) accordingly, Axsome’s positive statements to the market were materially false and misleading.

The Schubert Firm is investigating potential breaches of fiduciary duty by Axsome’s officers and directors in connection with these allegations.

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