Axsome Q1 2023 Earnings Report
Key Takeaways
Axsome Therapeutics reported a total revenue of $94.6 million for Q1 2023, driven by net product sales of $28.6 million and license revenue of $65.7 million. Auvelity net product sales were $15.7 million, and Sunosi net product sales were $12.9 million. The company's net loss for the quarter was $11.2 million, or $(0.26) per share.
Total revenue for the first quarter of 2023 was $94.6 million, consisting of net product sales of $28.6 million, license revenue of $65.7 million, and royalty revenue of $0.3 million.
Auvelity net product sales were $15.7 million for the first quarter of 2023.
Sunosi net product sales were $12.9 million for the first quarter of 2023, including $1.7 million in international net sales booked by Axsome.
Net loss for the first quarter of 2023 was $11.2 million or $(0.26) per share.
Axsome
Axsome
Forward Guidance
Axsome believes that its current cash, along with the remaining committed capital from the $350 million term loan facility, is sufficient to fund anticipated operations into cash flow positivity, based on the current operating plan.