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AXSM is one of the more volatile tickers in this sector, and as such is likely to experience a strong runup period. Also, this is the 2nd attempt, with the first one coming back with “deficiencies that preclude discussions of labelling and post-marketing.”
When a company spends an entire year fixing the deficiencies going into an event, traders can get especially optimistic ahead of time. Dips during the runup period are likely to attract buying from runup players, and possibly even from “Event Day” traders.
Risks of further delays do exist, as they always do. More research is always suggested!
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