Norges Bank acquired 495,456 shares of Axsome Therapeutics. The investment is valued at approximately $90.49 million. This purchase gives Norway's central bank a 0.98% stake in the company.
The disclosure follows several positive developments for the pharmaceutical firm. Axsome is preparing the market launch of its drug Auvelity to treat agitation in Alzheimer's disease.
The company also secured a favorable patent litigation settlement for its drug Sunosi. This agreement prevents generic competition for the treatment until at least 2040.