Axsome Therapeutics (AXSM) has settled all patent litigation regarding Sunosi, its treatment for excessive daytime sleepiness, the company said Wednesday.
Under the deal, Axsome said it has granted five companies the right to market generic versions of Sunosi, starting Sept. 1, 2040, if pediatric exclusivity is granted for Sunosi, or on March 1, 2040, if no exclusivity is granted. The settlement is subject to Food and Drug Administration approval and conditions.
The company said no other patent litigation regarding the product remains pending.
Shares of the company were up nearly 9% in Wednesday premarket activity.
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