BUZZ-Axsome Therapeutics rises after co resolves patent litigation for sleep disorder drug

Axsome Therapeutics, Inc.

Axsome Therapeutics, Inc.

AXSM

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** Shares of Axsome Therapeutics AXSM.O rise 6.2% to $236 premarket

** Co says it has resolved all patent litigation related to its product Sunosi

** The litigations resulted from companies seeking approval to market a generic version of Sunosi in the U.S.

** Sunosi is a prescription medicine approved to improve wakefulness in adults with excessive daytime sleepiness due to narcolepsy or obstructive sleep apnea

** As part of the resolution of these lawsuits, Axsome will grant five companies the right to sell generic versions of Sunosi beginning on or after September 1, 2040, if pediatric exclusivity is granted, or on or after March 1, 2040, if no pediatric exclusivity is granted, subject to FDA approval - AXSM

** No other patent litigation relating to Sunosi remains pending, co says

** Up to last close, stock up 21.6% YTD


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