Axsome’s stock falls after disclosing Teva’s plans to market generic Auvelity

Shares of Axsome Therapeutics Inc.
AXSM,
-0.27%
tumbled about 10.0% in premarket trading on Monday after the company said in a securities filing that Teva Pharmaceutical Industries Ltd.
TEVA,
+4.48%
is seeking approval from the Food and Drug Administration to market a generic version of Auvelity, Axsome’s depression treatment. Axsome’s stock has gained 95.8% over the past year, while the S&P 500
SPX,
+0.22%
declined 7.6%.

Item 8.01 Other Events.