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Jun 30, 2023
Axsome Q2 2023 Earnings Report
Axsome demonstrated strong financial performance and pipeline advancement.
Key Takeaways
Axsome Therapeutics reported a total product revenue of $46.7 million for Q2 2023, driven by Auvelity sales of $27.6 million and Sunosi revenue of $19.1 million. The company is expanding its Auvelity sales force and advancing its CNS pipeline with new indications for solriamfetol. They anticipate multiple clinical trial readouts and initiations in the near term.
Total product revenue reached $46.7 million, including $46.0 million in net product sales and $0.7 million in royalty revenue.
Auvelity net product sales were $27.6 million, representing a 76% sequential increase.
Sunosi net product revenue was $19.1 million, consisting of $18.4 million in net product sales and $0.7 million in royalty revenue.
The FOCUS Phase 3 trial of solriamfetol in ADHD was initiated, with Phase 3 trials planned for binge eating disorder and shift work disorder.
Revenue by Segment
Forward Guidance
Axsome believes that its current cash is sufficient to fund anticipated operations into cash flow positivity, based on the current operating plan.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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