News of the approval sent Axsome's shares soaring—from $42.46 at close on Thursday to $58.00 by mid-morning on Friday for a 36.6% increase. RELATED: Axsome sees depression drug decision delayed as FDA kicks expected CRL can down the road As an N-methyl D-asparate (NMDA) receptor antagonist, Auvelity is the first oral MDD drug to enter the market with a new mechanism of action in more than 60 years, the press release noted. In 2020, Johnson & Johnson's nasal spray Spravato was sanctioned as the first NMDA receptor antagonist for MDD.