NEW YORK, Nov. 10, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP and The Rosen Law Firm, P.A. announce that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of Axsome Therapeutics, Inc. Common Stock (NASDAQ: AXSM):

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT

To: All persons and entities who purchased or otherwise acquired Axsome Therapeutics, Inc. (“Axsome”) common stock during the period from May 10, 2021 through April 22, 2022, both dates inclusive (the “Class Period”), and were allegedly damaged thereby (the “Settlement Class”).

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Court-appointed Lead Plaintiffs, on behalf of themselves and all members of the proposed Settlement Class, Axsome and certain individual defendants have reached a proposed settlement of the claims in the above-captioned class action (the “Action”) in the amount of $7,750,000 (the “Settlement”).

A hearing will be held before the Honorable Lorna G. Schofield either in person or remotely, at the Court’s discretion, on February 10, 2026, at 2:30 p.m. in Courtroom 1106 of the United States District Court for the Southern District of New York, Thurgood Marshall United States Courthouse, 40 Foley Square, New York, NY 10007 (the “Settlement Hearing”) to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation of Settlement, dated September 19, 2025; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the “Net Settlement Fund”) to Settlement Class Members; and (iv) approve Lead Counsel’s Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another written notice. Information about the hearing will be posted at www.strategicclaims.net/Axsome/. You do NOT need to attend the Settlement Hearing to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Notice of Pendency and Proposed Settlement of Class Action (“Long Notice”) and Proof of Claim and Release Form (“Claim Form”), you may obtain copies of these documents by visiting www.strategicclaims.net/Axsome/ or by contacting the Claims Administrator at:

Axsome Therapeutics, Inc. Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson St., Ste. 205
Media, PA 19063
(Toll-Free) (866) 274-4004
(Fax) (610) 565-7985
info@strategicclaims.net

Inquiries, other than requests for information about the status of a claim, may also be made to Lead Counsel:

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form to the Claims Administrator postmarked to the address above or submitted online at www.strategicclaims.net/Axsome/ no later than February 3, 2026. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Long Notice so that it is received no later than January 13, 2026. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel’s Fee and Expense Application, and/or the proposed Plan of Allocation must be mailed to the Claims Administrator and to counsel for the Parties in accordance with the instructions in the Long Notice, such that they are received no later than January 13, 2026.

PLEASE DO NOT CONTACT THE COURT, DEFENDANTS, OR
DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.

DATED: OCTOBER 27, 2025

BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK