Axsome Therapeutics (AXSM) Prices 2M Share Offering at $87

Axsome Therapeutics, Inc. (Nasdaq: AXSM) announced the pricing of an underwritten public offering of 2,000,000 shares of its common stock at a public offering price of $87.00 per share. The proceeds from the offering, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Axsome, are expected to be $174.0 million. In addition, Axsome has granted the underwriters a 30-day option to purchase up to 300,000 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about December 23, 2019, subject to customary closing conditions.

Axsome intends to use the proceeds from this offering to continue to fund the ongoing clinical development of its late stage product candidates and for other general corporate purposes, including funding existing and potential new clinical programs and product candidates. Additional indications may be explored with the use of proceeds.

SVB Leerink is acting as lead bookrunning manager for the offering. Morgan Stanley is acting as joint bookrunning manager for the offering. Cantor Fitzgerald & Co., Ladenburg Thalmann & Co. Inc., SunTrust Robinson Humphrey, Inc. and William Blair & Company, L.L.C. are acting as co-lead managers for the Offering. BTIG, LLC and H.C. Wainwright & Co. are acting as co-managers for the Offering.

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.

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