Axsome Therapeutics Doubles in Nine Months, Falls 1.76% After Short Seller Report
AXSM•Axsome Therapeutics shares have doubled over the past nine months, propelled by the addition of a new Phase III neurological therapy and a growing oncology pipeline. On July 1, shares slipped 1.76% after a short seller accused Tarsus of an illegal Medicare copay scheme, triggering profit-taking in healthcare stocks.
1. Pipeline Progress Drives Nine-Month Rally
Over the past nine months, Axsome Therapeutics shares doubled as investors responded to clinical milestones, including a novel neurological therapy advancing to Phase III trials and expansion of its oncology portfolio. The company’s focused R&D investment and anticipated data readouts have underpinned sustained market confidence.
2. Short-Seller Report Triggers Temporary Pullback
On July 1, Axsome shares dipped 1.76% following a short-seller report accusing peer Tarsus of an illegal Medicare copay scheme, prompting sector-wide profit-taking. Although Axsome was not directly implicated, the broader healthcare selloff briefly weighed on its stock performance.
