08:40 AM EDT, 05/13/2025 (MT Newswires) -- Axsome Therapeutics ( AXSM ) said Tuesday that it has entered into a $570 million term loan and revolving credit facility with funds managed by Blackstone (BX) Life Sciences and Blackstone Credit & Insurance.

Axsome said it has concurrently retired its previous term loan with Hercules Capital.

The company said the financial terms for the new $500 million term loan facility and $70 million revolving credit facility are expected to result in a "significant" reduction of its interest expenses while expanding available credit by more than $200 million.

Axsome shares were 0.8% higher in premarket trading.