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Axsome Therapeutics, Inc.

AXSM

Health Care

2

exclusion reasons

1 theme

Animal Welfare (2)
AXSM Health Care Current as of March 2026

Axsome Therapeutics, Inc. is screened out under 2 exclusion reasons spanning 1 issue category.

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.

Animal Exploitation
Since Jan 3, 2022

Axsome Therapeutics is a biopharmaceutical company whose business model inherently relies on animal testing for drug development and regulatory approval. The company’s pipeline and approved products, including treatments for major depressive disorder and migraine, are developed through preclinical and clinical research stages that require animal experimentation as a standard component of the FDA approval process. This places the company within the broad pharmaceutical sector practice of using animals in research, which is captured under the animal_exploitation exclusion category.

Available evidence from public sources does not specify the scale, species, or protocols of Axsome's animal testing activities. The company’s SEC filings and other disclosures focus on clinical outcomes and regulatory milestones without detailing preclinical animal research. The exclusion is based on the company's operational model in an industry where animal testing is a foundational, required step for bringing new drugs to market.

Animal Testing & Research
Since Jul 28, 2021

Axsome Therapeutics is a clinical-stage biopharmaceutical company whose product development pipeline relies on animal testing as a standard component of regulatory compliance. The company’s public filings and regulatory submissions explicitly reference conducting animal studies as part of the preclinical testing required for FDA approval. For example, the prescribing information for its approved drug AUVELITY includes warnings based on findings from animal studies, and FDA review documents for its product AXS-05 detail specific repeat-dose toxicity studies in mice.

This reliance on animal testing is inherent to its business model of developing central nervous system therapeutics. The company’s annual reports state that its drug candidates must undergo preclinical laboratory tests and animal studies in accordance with FDA Good Laboratory Practice regulations. While the available evidence does not specify the scale or internal protocols of Axsome’s animal testing, its regulatory filings confirm that animal data is a foundational element of its product development and submission process.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.