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Axsome Therapeutics Says FDA Approves Auvelity for Alzheimer's Disease Agitation

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Axsome Therapeutics (AXSM) said Thursday the US Food and Drug Administration approved Auvelity for the treatment of agitation associated with Alzheimer's disease dementia.

The approval was supported by two phase 3 clinical trials that showed the drug significantly improved agitation symptoms and resulted in a longer time to relapse compared with placebo.

The medication acts on N-methyl-D-aspartate and sigma-1 receptors in the brain and is also approved for adults with major depressive disorder, the company added.

Shares of Axsome were up more than 12% in Thursday trading.

Price: $206.45, Change: $+22.50, Percent Change: +12.23%

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