Cision PR Newswire

AXSM Investors Have Opportunity to Lead Axsome Therapeutics, Inc. Securities Fraud Lawsuit

Shareholders with $500,000 losses or more are encouraged to contact the firm. 

LOS ANGELES, June 22, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Axsome Therapeutics, Inc. ("Axsome" or the "Company") (NASDAQ: AXSM).

Class Period: December 30, 2019April 22, 2022
Lead Plaintiff Deadline: July 12, 2022

If you wish to serve as lead plaintiff of the Axsome lawsuit, you can submit your contact information at www.glancylaw.com/cases/axsome-therapeutics-inc/You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Axsome's CMC practices were deficient with respect to AXS-07 and its manufacturing process; (2) as a result, Axsome was unlikely to submit the AXS-07 NDA on its initially represented timeline; (3) the foregoing CMC issues remained unresolved at the time that the FDA reviewed the AXS-07 NDA; (4) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (5) as a result of all the foregoing, Axsome had overstated AXS-07's regulatory and commercial prospects; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.  If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Glancy Prongay & Murray LLP