Shares of Axsome Therapeutics (NASDAQ: AXSM) lost 9.75% of their value through Thursday's closing bell this week, according to data from S&P Global Market Intelligence. The biotech's shares are currently well off of their 52-week highs due to a regulatory delay for its experimental major depressive disorder drug AXS-05. What's important to understand is that this regulatory hiccup reportedly centers around two issues with the company's analytical methods in the Chemistry, Manufacturing, and Controls section of the New Drug Application submitted to the Food and Drug Administration (FDA).
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