Axsome Product Revenue Climbs 52% as Quarterly Loss Narrows
Axsome reported $259.7 million in third-quarter net product revenue and a $12.9 million net loss, while advancing a smoking-cessation trial.
Key takeaways
- Third-quarter net product revenue rose 52% year over year to $259.7 million.
- AUVELITY sales increased 53% to $207.6 million.
- Axsome reported a $12.9 million quarterly net loss, compared with $47.2 million a year earlier.
- The company initiated a Phase 3 trial of AXS-05 for smoking cessation.
Axsome Therapeutics reported third-quarter net product revenue of $259.7 million, up 52% from a year earlier, as sales grew across its three products. The company’s net loss narrowed to $12.9 million from $47.2 million.
AUVELITY sales rose 53% year over year to $207.6 million. SUNOSI revenue increased 47% to $48.2 million, while SYMBRAVO sales climbed 88% to $3.9 million.
Research and development expenses were $50.6 million, compared with $40.2 million in the same quarter last year. Selling, general and administrative expenses rose to $203.1 million from $150.2 million, which Axsome said primarily reflected commercialization activities for AUVELITY and SYMBRAVO.
Axsome had $313.9 million in cash and cash equivalents at September 30. The company said its current cash is sufficient to fund anticipated operations into cash flow positivity, based on its current operating plan.
In its pipeline, Axsome said it initiated the Phase 3 SUMMIT trial of AXS-05 for smoking cessation in August. It anticipates topline results in the second half of 2027.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
