Axsome Therapeutics, Inc. AXSM announced mixed top-line data from the phase III STRIDE-1 study evaluating its pipeline candidate AXS-05 to address patients with treatment resistant depression (TRD).The primary endpoint following the week six of treatment did not reach any statistical significance in the above-mentioned study.Nevertheless, the candidate met key secondary endpoints by demonstrating rapid and statistically significant improvements in depressive symptoms, per the Montgomery-Åsberg Depression Rating Scale (MADRS) measure at week one and for the overall six-week treatment period compared to the active comparator bupropion in the given patient population.This randomized, double-blind, active-controlled study is assessing the safety and efficacy of AXS-05 for the aforementioned patient population. Based on results from the STRIDE-1 study, Axsome plans to initiate a second phase III study on AXS-05 in the third quarter of 2020 for addressing patients with TRD.Shares of Axsome have skyrocketed 326.2% in the past year against the industry’s decline of 11.8%.AXS-05 is a novel, oral, investigational non-competitive N-methyl-D-aspartate (NMDA) receptor antagonist with multimodal activity under development for treating central nervous system (CNS) disorder. Apart from the STRIDE-1 study, Axsome is conducting a phase III GEMINI study on AXS-05 for treating major depressive disorder (MDD) as well as a phase II/III ADVANCE-1 study on agitation associated with Alzheimer's disease (AD).Per the company, positive outcomes from GEMINI study on MDD along with the previously-completed ASCEND study will be sufficient to support the filing of a new drug application (NDA) for AXS-05 to treat MDD. The NDA is expected to be filed in the fourth quarter of 2020.In March 2020, Axsome announced that it is accelerating the completion time of the phase II/III ADVANCE-1 study on AXS-05. As a result, top-line findings from the study are now expected in early second-quarter 2020, which were previously awaited in the third. The study is currently enrolling patients aged 65 years and above.Zacks Rank & Stocks to ConsiderAxsome currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the biotech sector include Acorda Therapeutics, Inc. ACOR, Regeneron Pharmaceuticals, Inc. REGN and Trevena, Inc. TRVN, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Acorda’s loss per share estimates have narrowed 8.8% for 2020 over the past 60 days.Regeneron’s earnings estimates have been revised 6% upward for 2020 over the past 60 days. The stock has rallied 14.3% in the past year.Trevena’s loss per share estimates have narrowed 26.4% for 2020 over the past 60 days.Zacks Top 10 Stocks for 2020In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2020 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Regeneron Pharmaceuticals, Inc. (REGN): Free Stock Analysis Report Acorda Therapeutics, Inc. (ACOR): Free Stock Analysis Report Axsome Therapeutics, Inc. (AXSM): Free Stock Analysis Report Trevena, Inc. (TRVN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research