Deal Flow
Letter · prints on one page
Transaction tear sheetData as of Nov 7, 2026
M&A · Healthcare · Pharmaceutical Preparations

Avenue Therapeutics, Inc. to acquire Axsome Therapeutics, Inc.

Announced Nov 6, 2025 · Announced

Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationNot disclosed

Transaction

Acquirer
Avenue Therapeutics, Inc. (ATXI)
Target
Axsome Therapeutics, Inc. (AXSM)
Buyer type
Strategic
Offer price per share
—
Enterprise value
—
Status
Announced

Deal protections

Not yet read from the merger agreement.

Advisors

To the acquirer
Not disclosed
To the target
Not disclosed

Sector context · Healthcare

Comparable deals
96 in the prior 24 months
Premium
Sector median 59.5%
EV / Adj. EBITDA
Sector median 14.5x
Break fee
Sector median 3.4%

Timeline

  1. AnnouncedNov 6, 2025
  2. ClosedPending
Sources
  • 8-K (EX-99.1) · Nov 12, 2025

Adj. EBITDA is operating income + D&A + impairment, restructuring, deal costs and stock compensation, less any large gain on a sale, last twelve months, from the target's filings. Calculated by Castle, so it can differ from a bank's adjusted figure.

Prepared with Castle from public SEC EDGAR filings. Figures are extracted automatically; verify against the source documents. Not investment advice.