Bitcoin has put in a nice move higher this week. I'm inserting an article from Crypto Presales, Nigeria Blocks Access to Crypto Exchanges. The main driver of the article relates to currency, as citizens try to move money out of a sliding currency, in this case the Naira, and into crypto, such as bitcoin, seeking less inflation. The government intends to block the on-line exchange of companies like Binance, Coinbase, and Kraken. Weekly chart below of Bitcoin, below.
Axsome released their fourth quarter financial results today. Just a few highlights from the just completed impressive quarter, are below.
Alzheimer's Disease Agitation, is an unmet medical need. Three companies have addressed potential therapy for these patients. Otsuka and partner Lundbeck with Brexpiprazole, has already achieved FDA approval as the first and only approved drug, but carries a Black Boxed Warning. Another candidate from Otsuka again, is AVP-786. AVP-786 has yet to achieve two meaningful positive clinical trial readouts, and has two clinical trials scheduled to complete in 2026. Axsome's AXS-05 has completed one successful clinical trial known as ADVANCE-1. AVANCE-2 is scheduled to read out in the first half of 2024. If successful, the company will pursue an sNDA filing with the FDA for approval. Click on chart below for a larger version. Thank you for reading.
Knowing a companies pipeline of drug candidates, might give us a view of future products of commercialization, should everything work out favorable in clinical trials. With the 4th quarter of 2023 almost completed, a check on the pipeline of Axsome Therapeutics heading into 2024, is below.
The important readout will the AXS-05 phase 3, Alzheimer's Agitation clinical trial, to be completed in the first half of 2024. Another notable readout, will be the Solriamfetol phase 3 for Attention Deficit Hyperactivity Disorder (ADHD), scheduled in the second half of 2024. Thank you for reading.
Ethereum, the second largest cryptocurrency behind Bitcoin, is having a solid year to the upside, thus far, up around 65%. The weekly chart looks bullish on an intermediate basis, (weeks to months) with higher lows occurring, prior to the previous low. The current move higher has been strong, but met with an older resistance point, around the 2120 level, where ETH pulled back from there back in May. A breakout above that 2120 resistance level, could take it higher 18% to my target point of 2500, per weekly chart below. Thank you for reading.
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Axsome released their third quarter financial results on Monday. Just a few highlights from the just completed impressive quarter, are below.
With the 3rd quarter of 2023 just completed, a quick check on the performance of what different assets, have returned to date. What's notable is the sharp fall of bonds going negative, as interest rates have surged. Interest rates and the price of bonds have a negative correlation. Cryptocurrency, including bitcoin and ethereum, along with stocks are still in the green end of third quarter. Chart below, thank you for reading.
Ethereum is a volatile cryptocurrency asset. Just like other assets have their correlations, or non-correlations for price movement, the same goes with Ethereum. The ten year treasury yield has been spiking along with interest rate increase. Ethereum has a high non-correlation, with the ten year bond yield, symbol $TNX. Because higher interest rates, mean higher borrowing costs, people could potentially start spending less, investing and speculating less. The chart below shows this non-correlation, in other words, as interest rates rise on the ten year yield, ETH goes down in price. A -1.00 is a perfect non-correlation and a 1.00 is perfect correlation. Currently the correlation is a -68. Chart below, has ETH in white and the ten year in red. Thank you for reading.
Axsome released their second quarter financial results on Monday August 7th. Just a few highlights from the just completed impressive quarter, are below.
Below are weekly prescriptions of Auvelity for MDD. Thank you for reading.
With the 2nd quarter of 2023 just completed, a quick check on the performance of different assets, have returned to date. Cryptocurrency, including bitcoin and ethereum, along with stocks put in a strong first half performance, chart below. All five assets tracked were in positive territory. Click on chart for larger image. Thanks for reading.
Up until this week, Axsome Therapeutics has not given long-term peak revenue guidance for each of their future indications. Here's a quick glimpse of the numbers that they have provided the investment community. I am only posting the companies low estimate of revenue expectations.
