Why Axsome Therapeutics Stock Is Sinking Today
Axsome Therapeutics(AXSM) The Motley Fool·2024-06-12 00:35
A short-seller report is causing a sell-off of the biotech stock.Shares of Axsome Therapeutics (AXSM -6.68%) were sinking 6.8% lower as of 11:19 a.m. ET on Tuesday. The decline came after Culper Research announced a short position in the biotech stock before the market open.Culper alleged that Axsome's commercialization of depression drug Auvelity "has been aided by undisclosed consignment deals with dodgy mail-order pharmacies that subvert prior authorizations." It also claimed that these deals are "inflat ...