FDA approves Auvelity for Alzheimer's agitation, Axsome shares surge 12%

The FDA has approved Auvelity, an existing depression medication, as the first non-antipsychotic treatment for agitation in Alzheimer's disease. This decision drove Axsome Therapeutics' stock up 12%. Auvelity avoids the black box warning required for the only other approved treatment, making it a safer alternative. The drug is already on the market for major depressive disorder.