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Axovant Sciences Ltd. (AXON) is a London-based, clinical-stage biopharmaceutical company.
The firm engages in developing and commercializing medicines for the treatment of dementia and related neurological disorders in the United States and Europe.
Its lead product candidate, intepirdine, a selective 5-HT6 receptor antagonist, which is in Phase III clinical trial for the treatment of Alzheimer's disease; in Phase IIb clinical trial for treating dementia with Lewy bodies (DLB); and in Phase II clinical trial for treating cait and balance in Alzheimer's disease, DLB, and Parkinson's disease dementia.
The company is also developing nelotanserin, a selective 5-HT2A receptor inverse agonist, which is in Phase II clinical trial for the treatment of visual hallucinations in patients with Lewy body dementia (LBD) and REM behavior disorder in patients with LBD.
In addition, it focuses on developing RVT-103, a combination of donepezil and a peripheral muscarinic receptor antagonist; and RVT-104, a combination of rivastigmine and a peripheral muscarinic receptor antagonist as treatments for patients with Alzheimer's disease or DLB.
Shares have formed a bullish "flag" on market expectation that the company's intepirdine will report posiitve results from its Phase III trials. The said results should pave the way for FDA's approval of the drug. Analysts believe such an apprval, if it comes, could add $15-$20 to share prices.
52-Weeks Trading Range: $11.01 - $26.49
Entry Point: $24.75
Stop Loss: $23.40
Target Price: $27.30
AXON closed at $27.60. Please note that we expect shares to had higher. If you elect to stay in the position, raise your stop loss to $27 to protect your gains.
