AXS-12 for Narcolepsy - Phase 3 Results

Axsome Therapeutics released phase 3 results with AXS-12 for patients with Narcolepsy type 1 (NT1). The primary endpoint of the study was to determine if AXS-12 (reboxetine) reduced Cataplexy attacks, after five weeks of dosing. The results were significant, in addition to an earlier phase 2 study.

• Phase 3 significantly reduced cataplexy attacks vs. placebo (p=0.018)
• Phase 2 significantly reduced cataplexy attacks vs. placebo (p=0.001)

Based on these two clinical trials, and prior clinical and non-clinical studies, Axsome plans to submit an NDA (new drug application) with approval for patients with Narcolepsy experiencing Cataplexy attacks. The gating factor will be the long-term safety data, that is still ongoing with an expected completion date by December 2024. 

Weekly chart of Axsome below. Thank you for reading.

Bitcoin and Gold All-Time Highs

Bitcoin and Gold have reached new all-time highs. What is the reason? There was an interesting research note by Bank of America strategist Michael Hartnett that may explain, regarding the current US debt. The summary of their research suggests, that one trillion in new debt inflation is occurring every 100 days, reaching 34 trillion in national debt currently. Alternative assets such as bitcoin and gold, have become attractive for investors seeking non inflationary assets. 

Bitcoin's supply limit known as the hard cap is set at 21 million, which is designed to create scarcity and and prevent inflation. The 21 million is the maximum number of bitcoin that can ever be created. Gold has historically acted as a source of value, during economic uncertainty and inflation. Below are charts of bitcoin, gold and US debt. Thank you for reading.